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In case you haven't noticed....McCain, Clinton, and Obama aren't in a position to do anything about energy prices right now.
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If three members of congress aren't, who is? Unless you're referring to a presidential executive order. (See ucsd_ucla_dad's post 55.)
That's what irks me when reporters ask questions like this and expect a sound bite answer. The gasoline tax is complicated. The federal portion is earmarked for certain mandated funds. States set their own tax structures, which vary widely. Oil companies receive preferential tax breaks. Oil is a commodity we import, and the price is sensitive to the strength of our currency and our own refining capacity--not to mention our stomach as a nation for developing sources like Anwar, offshore drilling in the Gulf, and shale.
The price of oil is but one component of overall energy policy, which has to take into account the tax structure, the development and commercialization of alternative sources of energy, foreign policy, and the financial markets. Suggesting something like a limited tax holiday or a windfall tax on producers strikes me as a kind of "chicken in every pot" election season pandering. Which is my tedious way of saying I agree with kluge. I pick the candidate behind door #3, the one with the strongest semblance of a backbone.
Now I want to hear what all three have to say about increasing transparency for the financial markets for the benefit of investors. Let's start with hedge and private equity funds.