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Cutting the Gas Tax, Right?
When we think about gasolene, it is scarce in the sense that, ah, you can look the in tory data to say it's scarce. There 's a clear crunch that is tied to the russian invasion of ukrane. So we're dealing with real scarcity here. And if we think about what the gas acts as a prop for making it easier to consume gasolene,. When it's scarce, when it's a subsidy for demand at a time when it's scarce... That typically doesn't check out. It may sort of cross subsidize through a bunch of intermediating mechanisms the supply side. But it's pretty inefficient if it's going to do that