More on Really Stupid Ideas

Just to provide yet more real-world evidence of the vapid stupidity of McCain’s gas tax, now endorsed by Clinton, here, via Atrios, comes confirmation of the fact (surprise!), that price affects consumption.

Short form: gas consumption and traffic are down. The Feds predict a .4 percent fall in gas consumption this summer (when the proposed gas tax holiday would, if any savings made it to the pump, reverse that long-sought outcome). Money quote:

ā€œSustained higher gasoline prices are beginning to show up in lower gasoline consumption,ā€ said Tancred Lidderdale, an analyst for the Energy Information Administration.

That’s the market in action, folks. Doing what it should. Is there a problem here?

John, Hilary: pay attention. Good on ya’ Barack for figuring this out.

Image: Lesser Ury, “Hackney in Rainy Weather, (Pferdedroshke im Regenwetter),” 1924. Source, Wikimedia Commons.

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Explore posts in the same categories: bad ideas, bad science, Climate follies, Clinton, Economic follies, Energy follies, McCain, Obama, political follies, Politics, Stupidity

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