The downside to lower gas prices:
people are driving more. Which is why I always say that if you really want to tackle the environmental consequences of automobile gas consumption and
emissions, the ONLY way is through higher gas prices. A tax is appropriate in the
Pigouvian sense, and is more palatable right now than when gas was $4 a gallon. It will be $4 a gallon again in a year or two, so let's get the tax in now while we can.
Go Ted go!
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