Biden Speaks on Suspending Gas Tax but Even CNN Busts His Bad Idea

AP Photo/Susan Walsh

Joe Biden called on Congress to suspend the federal gas tax for three months, through September, and he called on states to take similar action to suspend their own gas taxes. The present federal gas tax is about 18 cents and 24 cents for diesel.

He claimed the idea that he was restricting domestic oil production was “nonsense.”

But he has been attacking and restricting the industry ever since he came in, and gas prices have been rising ever since he came into office, long before Putin attacked Ukraine. Yet he keeps blaming Putin and he did again during his remarks.

He kept showing pictures of Ukraine behind him on the screen as he spoke, then pictures of electric vehicles. It was astonishing. They were trying hard to sell this, knowing this is hurting them big time. He acted as if not supporting the gas tax holiday was the equivalent of throwing Ukraine to the wolves.

But, even now, with all the harm that his policies have caused, Biden still won’t give up on phasing out fossil fuels. He said that while companies had to increase the supply in the near term, in the medium and long term that we still needed to transition from fossil fuels.

Biden claimed that he was “doing his part.”

Yes, doing his part to make everything worse.

But it’s not clear that he even has all the Democrats in Congress on board with this idea of pausing the gas tax.

As I noted earlier, it in fact could make things worse because it would increase the demand while not increasing the supply.

Biden has been in political office since the invention of the wheel, but he doesn’t seem to understand that. He hasn’t even absorbed that his former boss Barack Obama called it a gimmick back in 2008.

“For us to suggest 30 cents a day for three months is real relief, that that’s a real energy policy, means that we are not tackling the problem that has to be tackled,” Obama said.

Even CNN wasn’t going for it. Matt Egan gets that it could increase demand and is raising the alarm that it could make inflation worse. It polls well, but it doesn’t mean it’s good to do, Egan said.

Journalist Jean Chatzky called it “optics” and explained it wasn’t worth much, if anything.

But if it polls well, Biden thinks it will help him, even if the ultimate result is bad for Americans and just makes everything worse.

Meanwhile, Biden has been leaning on the oil companies to increase their production (while still saying he wants to phase out fossil fuels) and he did that again during his speech. He again touted releasing oil from the Strategic Petroleum Reserve which hasn’t done anything to slow rising prices. Chevron’s CEO pointed out how bad this mixed message and constant attack on them was to stable production. Biden noted part of the problem was refineries. The industry also noted that they are at close to peak refinery capacity already, that they would have had more capacity but that nearly half of the capacity was taken off-line because of the facilities converting to renewable energy production. So who’s responsible for that? Staring right at you, Biden and Democrats.