Both McCain and Obama Are Actually Seeking Higher Gas Prices
August 15, 2008
You've heard all the advertisements from both sides. Obama accuses McCain of supporting "big oil." McCain accuses Obama of wanting higher taxes on energy, as a newly released ad does again. But what both sides won't tell you is that each supports a policy that is designed (intentionally) to raise the price of motor gasoline.
McCain says he wants offshore drilling to expand supply, yet at the same time, he supports a "cap-and-trade" system that is an implicit tax designed to raise the price at the pump in order to encourage conservation and the substitution to alternative fuels (thereby supposedly improving the environment). Obama says he'll go after "big oil" and speculators in an effort to lower prices, yet he too supports a "cap-and-trade" program to combat global warming that will end up raising the price at the pump.
Overall, this ad war over who can lower gas prices is merely part of the continual deception that both campaigns are constantly playing, appealing to the economic biases of the American public. But I guess when 62 percent of Americans say they would be more likely to support a candidate who favors price controls, it's no wonder we continue to receive this continual onslaught of economic (and tax) nonsense from both campaigns. (But which came first, the chicken or the egg?)