Free Markets, Free People

$7 gas in our near future?

While Senators Graham, Kerry and Lieberman scramble around telling you how bright the energy future will be if they are able to pass their carbon tax bill, here’s a sober reminder of what it will actually bring to working Americans:

To meet the Obama administration’s targets for cutting greenhouse gas emissions, some researchers say, Americans may have to experience a sobering reality: gas at $7 a gallon.

To reduce carbon dioxide emissions in the transportation sector 14 percent from 2005 levels by 2020, the cost of driving must simply increase, according to a forthcoming report by researchers at Harvard’s Belfer Center for Science and International Affairs.

Not might increase. Must. Those targets are 10 years in the future. So “must” has to begin to take effect pretty soon if they’re to be met, wouldn’t you say?

As for that promise that 95% of Americans won’t see their taxes increased by a dime? Well, Obama’s agnostic about that now.

Take a good look at the figure and try to visualize the impact on your family’s budget. Also remember the transportation sector uses 70% of carbon based fuels. So not only is gas going to cost you about $4.50 more a gallon in taxes, every single necessity and consumer good you purchase will cost you more as well. Factor that in as well. Now try to imagine the impact on a struggling economy.

There are different ways to skin the taxation cat – and income taxes are only one of them. Of course it really doesn’t matter to you how they do it, the result remains the same: less money for you to use on your priorities and needs.



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6 Responses to $7 gas in our near future?

  • I doubt that it’ll make it much past $5 a gallon, but that by itself would be devastating.
    At the moment I just wish I could find gas without f’ing ethanol mixed in, what a scam.

  • When this happens, I expect and demand an apology from the morons who voted for Imeme (and Grahamnesty, for that matter).  A public badge of shame would also be appropriate.

    We told you so.

  • It’s as if they don’t get it.  It doesn’t matter whether you call this a tax or not.  When the economy is going badly and people are feeling its effects directly, that is when the electorate votes in anger.  Raising the price of gas is probably the worst way to make that economic pain felt.  Not only is it felt directly by everyone (in that their expenses increase and they get less out of each dollar spent) but it’s also spread all around, which means that they are more likely to blame elected representatives (as opposed to a particular sector of the economy).
    If gas prices rise appreciably in the next few months, November will be even bloodier than anticipated.

  • Prediction: They won’t make that target.
    Remember that this is a study from a Harvard group, not a statement from the EPA as to their intended methods of achieving their notional target.
    If they try, Congress will simply stop them (assuming that the EPA can even attempt to change fuel taxes or fees all by itself; I’m not sure they have authority), either by passing laws specifically preventing that, or by amending the Environmental Protection Act to exclude “greenhouse gases” (the preferred route, in my opinion).
    Congress will do that because the alternative is to get kicked out of office in the next election, and replaced with people who will do it.

  • If these Bozos ram healthcare through and allow the EPA to drive up energy prices, they will be lucky to survive until November much less win reelection.

    • Of course, they’ll blame the evil BigOil companies for jacking the prices to those levels because they made $$billions in profit, which they’ll conveniently ignore was 30 cents a gallon, while the states and Fed made $4 a gallon.
      The LapDog media and the ragingly ignorant 3/4ths of populace will slurp it up.