Yes, when gasoline gets to $3.50/gallon; let us add an extra $1.50 gallon tax and use the money for such things as:

1) Higher food stamps and rental assistance for the working poor (take $ out of one pocket but put it back into the other)
2) Reduced Medicare premiums (likewise for retirees)
3) Reduced Payroll taxes (likewise for workers)
4) Building out Urban Rail
5) Reduced (Federal $ to local jurisdictions) property taxes for low energy TOD areas.
6) Eliminate property taxes on railroads that electricify
7) Renewable energy generation subsidies such as wind, geothermal, solar, hydro.

$5/gallon at the pump will change some behaviors (and is impossible politically). But it is simple and will work.

Best Hopes,

Alan