May 02, 2006

Environmental Benefits of Rising Gas Prices

Richard Posner makes a straightforward argument for why higher gas prices discourage consumption and tend to reduce the production of oil, also reducing the threat of global warming. He favors increasing taxes on gasoline as one way to increase prices, and criticizes the absurdity of Congressional grandstanding through superficially pallative remedies such as tax rebates.

He expresses doubt that a constituency that is ignorant of economics and suspicious of Bush administration motives The Becker-Posner Blog: The Gasoline Price Spike: Another Nonissue--Posner

Posted by dougsimpson at May 2, 2006 03:20 PM