Letters to the Editor: Why Rep. Schiff’s federal gas tax holiday is exactly the wrong approach

To the editor: I find it interesting how Rep. Adam Schiff (D-Burbank) and many politicians comment on Big Oil’s greed when gasoline prices are up. Did these companies somehow forget to be greedy when prices are down? Have farmers also become greedy because food prices are up? (“Give drivers a gas tax holiday. Tax windfall profits from oil companies instead,” Opinion, June 4)

Schiff discusses the huge profits that the oil companies are currently realizing, which he believes should be taxed away. Should we then subsidize commodity producers when their profits are down? Even with the strong performance of energy stocks this year, they have significantly lagged the market over longer time periods.

Suspending the federal gas tax is the wrong approach. If anything, this tax is too low, as it has not kept up with inflation. Besides the cost of roads, gasoline usage creates significant environmental costs.

That is why it is better to have higher gasoline taxes, or a carbon tax to reduce demand.

Allen Wisniewski, Redondo Beach

..

To the editor: Schiff’s’ op-ed article on the excess profits of the oil industry lacks objectivity. He compares the 2022 year-to-date profits with the same period in 2021.

If I recall correctly, 2021 was in the middle of a pandemic, and people were not driving as much as prior years. Many people even received refunds on auto insurance because of reduced driving.

Schiff should compare the data on profits before the pandemic to get an accurate picture.

Paul Salerno, Riverside

..

To the editor: As Schiff says, “We need to build a green new economy that phases out our reliance on petroleum and dramatically expands the use of renewable sources of energy. Otherwise, future generations will literally pay the price.”

His suggestion of a federal gas tax holiday is an excellent short-term solution to help us pay for gas now. But we need a long-term solution to reduce our fossil fuel usage, such as a gradually increasing fees on carbon dioxide emissions at the mine or well that would be paid as a “pollution fee” and returned to consumers.

Oil companies would pay for the damage they’ve been doing to our health and that of our planet, and we’d be encouraged to go green.

Let’s invest in renewable energy sources and encourage automakers to ramp up electric vehicle production and make these cars affordable.

Maggie Wineburgh-Freed, Los Angeles