Friedman on the Federal Gas Tax

Thomas L. Friedman has a piece in today's New York Times about the necessity of imposing a gas tax if we really and truly want to stimulate a green economy.

There has to be a system that permanently changes consumer demand, which would permanently change what Detroit makes, which would attract more investment in battery technology to make electric cars, which would hugely help the expansion of the wind and solar industries — where the biggest drawback is the lack of batteries to store electrons when the wind isn’t blowing or the sun isn’t shining. A higher gas tax would drive all these systemic benefits.

While the thought of more taxes has my wallet running for cover, I am in complete agreement with Friedman. Personally, I loved seeing prices come down at the pump, knowing that it would now take less than $50 to fill the tank on my zippy little Toyota. But there was also a part of me that got very, very nervous when I saw gas prices decreasing. 

I'd love to believe that the green movement over the last couple of years is something more than a fad, but I'm cynical. Unfortunately Friedman, who has been through this cycle more times than myself, seems to confirm this. While I believe that a small minority of Americans will maintain their commitment to a more sustainable future, I believe that most need to be economically stimulated. We'll see if the new administration agrees. 

Read the full piece here.