Tom Brokaw, on Meet the Press, brought up an interesting option to Obama this Sunday. The idea isn't new.... Kerry brought the same idea up after the 70's oil embargo. In a nutshell, impose a higher gasoline tax at the pump to keep the consumer paying at a level that would insure continued conserving of gasoline.



Certainly there is a lot wrong with this idea, but it does have merits worth exploring. Think about how good we feel now when we fill up and "save" $30 plus each time. We were paying that $30 to foreign oil producing states just a couple of months ago. Wouldn't it be better to pay part of that $30 to our government instead of foreign governments? Especially if the higher price would keep a focus on alternative sources of fuel.



One could say that we need the break in prices now to offset the bad economy. That is very true. However, temporary rebates or incentive packages directly to the taxpayers could offset those taxes at the pump. Also the increased taxes could go a long way in funding the incentive plan proposed by Obama to rebuild our infrastructure including our highway system and bridges.



It's a pay me now or pay me later issue. Gas prices will go up as we build demand due to these lower prices. If we do nothing we will just make the foreign oil producing nations richer at our expense.



I've read that oil companies need $70 oil to justify drilling. If that is true then set the tax at a level to allow prices to be at the $70 level before the tax begins. In other words if our driving resistance is at about $3.75 at the pump and oil companies need a price at about $2.00 (equates to $70 oil) then the tax should be the difference or about $1.75 per gal. There would need to be some consideration or equalization of state taxes but that could be worked out.



Don't you agree that we need to do something? Aren't you a little concerned that these low gas prices will take the focus away from conservation and alternative fuel? Just look at what has happened to the stock prices of alternative energy companies since the gas prices have tanked, their stock tanked at a corresponding rate.



We need to move quickly while we still feel and remember the pain. What do you think?