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Obama: Rail in Lieu of Gas Tax Holiday « The Washington Independent

Jul 31, 2020
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The lone holdout in the much-hyped campaign pushto scrap the 18.4-cent-per-gallon federal gas tax for the summer has been Barack Obama. The Illinois senator saysit won’t save much at the pump, and the oil companies are likely to eat the benefit anyways. (Economistshappen to agree).
Yesterday, campaigning in Indiana, Obama wonderedwhy skyrocketing gas costs haven’t prompted a stronger move away from car travel:
The irony is with the gas prices what they are, we should be expanding rail service … We are going to be having a lot of conversations this summer about gas prices. And it is a perfect time to start talk about why we don’t’ have better rail service. We are the only advanced country in the world that doesn’t have high speed rail. We just don’t’ have it. And it works on the Northeast corridor. They would rather go from New York to Washington by train than they would by plane. It is a lot more reliable and it is a good way for us to start reducing how much gas we are using. It is a good story to tell.
It didn’t take long for the environmentalists to pick up on the words. Colin Peppard, transportation policy coordinator for Friends of the Earth, said, "Rail is an efficient, cost-effective way to travel that also happens to limit global warming. Senator Obama deserves a lot of credit for his foresight and candor."
Not that environmentalism has a chance of trumping economics as voters choose their candidates (Clinton is already running adscalling Obama "out of touch" with the American people.) But as an experiment in political responsibility, Obama’s standwill be interesting to watch.
Camilo Wood

Camilo Wood

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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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