Advocate a $1/gal gas tax now and land a little softer…?

Today’s oil price is 63% of what it was (inflation-adjusted) in 1979. The biggest policy question of our generation is how we get from $60/bbl to $95/bbl as it was then: through demand or through taxation.

The real conundrum, in my opinion, is how to destroy demand so as to come in for a soft landing, even if we are heading towards a 1979 to the google (not the search engine) power. (no pun intended, I assure you.)

I advocate taxing gasoline now. Abruptly. Quickly. Severely. Better to bend the shit out of the economy now than completely break it later. $1/gal would be a g-dsend.

As I said in the comments a few posts back…that’s why politicians will wait to build the wolf trap until the wolf is at the door.

The problem is that the stuff to make the wolf trap is out in the workshed.

More after the jump at The Oil Drum.