Dusting Off the Energy-Tax Idea

With petroleum prices in worldwide retreat, does it make any sense for the U.S. to enact a tax that might nudge the price back up again just for Americans? In a rising chorus, economists and energy experts everywhere have been answering with a deafening yes. By last week there were signs that Washington was beginning to listen. Proposals for levies of various sorts were under active examination in Congress, and top White House officials reported growing support for an energy-tax package within the Administration itself.

The case for a federal energy tax is...

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