Experts say that a higher tax is politically impossible.
I don't think that is true today. American consumers have moved far beyond the leadership in Washington. Our research shows that if we had a realistic energy policy, a majority of Americans would support a gradual increase. It put it at ten cents per year.
There is no question the tax is regressive. At the end of the year, it should be returned to consumers as a rebate. You will still get behavioral change at the pump. It is not as much about revenue as it is about changing behavior.