Charles Krauthammer’s premise, that reducing demand for oil will reduce terrorism, violates what I call Oil Econ 101. But he does offer the least costly way to achieve the goal.

Slap, say, a $5 (or $10–the bazaar is open) tax on every imported barrel. And most important, keep the new price–let’s say $35–as a floor.

For Discussion. Is it fair to say that a tax is both the most economically reasonable and the most politically unthinkable approach to energy conservation?