America must transition to cleaner and greener sources of energy that emit less carbon. Diversifying America’s energy portfolio is a national imperative. What Washington must not do is assault the American oil and gas industry as part of that transition during a time of war, sanctions, inflation and broader economic uncertainty.
This crisis requires a pragmatic response from policymakers. More Republicans must seriously engage on climate change and more Democrats must stop their relentless attacks on the American oil and gas industry.
Understandably, Biden plans to meet the Saudis to open the oil spigot. Better that than the loud whispers of allowing more Iranian and Venezuelan oil to be exported. Like Russia, Iran and Venezuela are criminal, corrupt regimes dedicated to destroying the American-led international order and undermining American power and influence. Better to produce the oil ourselves — and ask both democratic and non-democratic oil suppliers that support the international order to increase production — to put downward pressure on price.
All of this leads back to the ill-considered gas tax holiday.
Further, there is no guarantee any savings from the gas tax holiday would be passed on to the motoring public. Prices at the pump might rise anyway depending on unforeseen factors further limiting supply which are outside the control of Washington.
The federal gas tax holiday is a terrible idea whose time, once again, has come and gone. Congress must scrap this dumb gimmick and focus on real solutions that seriously address our current predicament.