What will lead us there are directed government investments in energy innovation, in which a smart user fee on energy consumption or carbon emissions can play an important, but fundamentally different (and less central role) as envisioned by conventional cap and trade, carbon tax, and gas tax proponents.

FORBES: Raising Gas Taxes Wouldn't Cut Consumption, But It Still Makes Sense

California has also passed cap-and-trade legislation that adds substantially to the costs of conventional energy production and refining.

WSJ: Review & Outlook: A Tale of Two Oil States