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Elizabeth Warren Says the Solution to High Gas Prices Is Higher Taxes on Oil Companies

Ron Bailey of Reason reports that Sen. Warren believes that higher taxes will reduce gas prices.

The C3 Take
  • A higher tax on oil companies is short sighted and would harm domestic energy and shift production overseas.
  • It will require a multifaceted approach that includes empowering the private sector, reducing regulations, and building out key infrastructure to reduce the price at the pump
  • Hamstringing domestic production will negatively impact our economic competitiveness and will expand the world’s carbon footprint.

“Warren’s proposal would doubtlessly achieve the same results: Less domestic production, more dependence on foreign oil, higher prices at the pump, and negligible tax revenue.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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