Gas Tax, One More Time

Ryan Avent wants a tax to help us better weather the next oil boom:

Passing a series of substantial gas tax increases now, to take effect in 2011, would have multiple salutary effects. The expectation of a higher future price at the pump would continue to push households to economize on gas by buying more efficient vehicles, downsizing commutes, and switching to transit. It would provide an immediate incentive to firms throughout supply chains to address efficiency -- now, not in 2016, when the new CAFE rules are set to take effect. And it would allow the administration to continue working to invest in new infrastructure -- like a high-speed rail system, better freight rail and port facilities, and quality public transit -- in the knowledge that revenue will be available to handle the bills.