Economists: Gas tax cut won’t save money.  Voters: Whatever.

Sat, May 03, 2008 - 12:27 PM

WAKE FOREST, NC – Energy economists think Sen. Hillary Clinton’s proposal to suspend the federal gas tax this summer will do nothing to lower gas prices.

Because oil supplies are so tight, The complex market forces that drive the international petroleum markets will likely send prices almost immediately back to pre-tax cut levels.

But the vast majority of voters aren’t energy economists. And those flocking to Clinton’s campaign events as she crosses North Carolina this weekend aren’t hearing the economic message, or choosing to ignore it.

At a get out the vote event in this growing bedroom community north of Raleigh this morning, her tax proposal drew by far the loudest cheers from the crowd.

“I think it’s imperative that we try to obtain some immediate relief, and what I’ve proposed would do just that. There’s a big disagreement in this campaign. You see it in the headlines, about where sen. Obama and I stand about the immediate crisis we face on the energy front,” she said. Obama opposes the move, agreeing with energy economists who think it will do little or nothing.

The message hit home with commuters like Tommy Barham. He commutes 45 minutes in traffic every day commuting from Wake Forest to his job in Raleigh. His gas bill has doubled to $500 over the last few years. Despite what economists say, he’s convinced it will help.

“The gas tax is a good start. We’ve got to do something for the working man driving to work every day,” he said.

--Sean Mussenden