Californian: Not long ago, a gallon of gasoline cost over $3.80. It has now fallen to less than $2 in many areas. Few saw such a decline coming, but it creates an intriguing opportunity to take action on climate change as well as address transportation needs that depend heavily on gas taxes.
Despite the plummeting price of oil and gasoline, most elected officials are loath to raise the gas tax and invite public displeasure. Yet many also recognize the need to supplement falling revenues from current gas taxes...