But then, I would think so, given I posted it in a comment here a year and a half ago:

http://ideas.4brad.com/node/394#comment-1609

At the time, Brad, you didn't seem entirely convinced - and you may still be right that it would be political suicide.

I also second Phillip's comment that it works here in Europe, where I've recently bought a 60MPG 1.6-liter diesel (with DPFS, for you particulate-averse folks). With $8/gallon fuel, our market already has sorted out winners, and continues to do so.

My view is also that it's OK for the credit to gradually taper off as gas consumption decreases. The major purpose of the rebate is to make the gas tax palatable enough to get enacted; once it's in place, it's likely to stay.

Although personally, I'd rather just see an across-the-board carbon tax...