Prices at the pump have come down significantly which translates into a $550 per year savings for consumers, according to the U.S. Energy Information Agency (EIA). That and a higher U.S. dollar is a welcome break for Americans, but Dan Dicker, Senior Energy Contributor at TheStreet, tells Jill Malandrino now is the time to promote the idea of implementing a $0.50 per gallon gasoline tax. Dicker admits this concept is politically toxic, but we are at a moment in time to take advantage of this because oil prices are depressed and they won't be this low forever. Extra gasoline savings have not provided a major boost to the economy as some analysts expected, just as there was not a major drag when prices were high. Dicker says the U.S. will never make it to a renewable future unless there is an enormous amount of government investment. We also have an infrastructure system that is absolutely stressed. Dicker says it is estimated that there is $2 trillion in infrastructure rebuild that needs to be done over the next 10 years. He argues that a $0.50 gas tax will have a minimal impact to the consumer and will be barely noticed relative to levels when gas was nearly $5.
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