Bloomberg Tax
June 22, 2022, 4:30 PM

Warring Oil and Green Groups Unite to Blast Biden’s Gas Gambit

Jennifer A. Dlouhy
Jennifer A. Dlouhy
Bloomberg News

President Joe Biden’s latest plan to attack high gasoline prices is uniting normally warring environmentalists and oil industry leaders who have found common ground blasting it as a political gimmick.

Biden is set Wednesday to call on Congress to suspend the 18.4 cents-per-gallon federal tax, though it’s unclear he could muster enough support from his own Democratic party for the pause. Opposition from across the political spectrum is only complicating the push.

Environmentalists say a gas tax holiday would only stoke more demand for fossil fuels while delaying a necessary pivot away from them.

It would amount “to little ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.