Shortly after I released an article on how OPEC was having difficulty raising oil production to stave off higher prices, another story came out with more details on exactly what this means for the economy. Though gas is climbing steadily higher, North Carolina’s lawmakers have a real chance to minimize its cost for citizens.
This rise in gas prices is not a theoretical possibility, the OPEC Secretary General says it is on the way, at least for the foreseeable future. Lawmakers need to be proactive about protecting our wallets, and move quickly to cap what would be an increase on an already expensive commodity. If not, many people will be forced to chose between transportation and such things as healthcare, housing, or even food. Companies that find themselves hard-pressed due to our gas tax may soon find it necessary to cross the border and pay another state for their gas, robbing the state of much needed revenue and hurting small NC businesses in the process.
The Republican majority has worked hard this legislative session to minimize the government footprint and reduce the tax burden on North Carolinians. I can think of few better ways to do so than by capping the gas tax. Not only is it a highly popular idea, it’s the right thing to do.