It was reported on Fox News this morning that 58% of Americans are increasing their credit card debt because they cannot afford to pay gasoline prices. Americans will have the extra money for this tax...how ?
My driving habits are pretty average, I think. 10-12 gallons a week, 200-250 miles, plus or minus. Locally, gas has gone up roughly 40 cents a gallon off its lows last year. That translates to 4 or 5 dollars a week. Hardly enough to break the bank. Even doubling that figure shouldn't translate into bankruptcy for most people.
I wonder if the same Americans whining about the cost of gas pick up a $2.50 cup of coffee and a $1 doughnut while they're tanking their car up in the morning on the way to work.
Gas prices will find their natural low, eventually. It'll just take awhile - the price needs to get high enough so that people park their cars. So long as everyone is willing to pay the price, Oil companies are willing to charge it.