How bad could high gas prices be?

How bad could high gas prices be? / Michael Lev, Energy, security and climate, 28/02/2012

Gas prices continue to climb, and, as I predicted last week, so does the volume of gas price punditry. That post sparked a sequence of smart thoughts from Matt Yglesias, Ryan Avent, Tim Duy, and Karl Smith. They collectively raise two big points that are worth talking about. (There’s also a lot of discussion of Federal Reserve policy – see here for my thoughts on that.)…

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