| President Bush said Tuesday that he has no "magic wand" to affect gas prices. In reality, gas price is "all about government policy." As the United States has some of the lowest gas taxes in the world, the price at the pump is dominated by the cost of oil: 72% of what you pay at the pump goes to crude oil. Clinton and McCain's summer oil tax break will only impact the taxpayers' coffers - not oil company profits. |
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At thinkprogress.org
At thinkprogress.org
