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Let $X$ be a smooth variety over an algebraically closed field (whose characteristic could be positive), $Y\to X$ is a $G_m$-bundle ($G_m=\mathbb{A}\setminus \{0\}$). Then I want to have a long exact sequence that relates the \'etale cohomology of $Y$ with the one of $X$; this should probably be similar to Theorem 3.57 of Is such a fact known/true?

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This is true, if you take étale cohomology with coefficients in a finite abelian group of order not divisible by the characteristic. You can embed $Y$ in the corresponding line bundle $L \to X$. Then by smooth base change the pullback from the cohomology of $X$ to that of $L$ is an isomorphism, and you can apply the Gysin sequence of $Y$ in $L$ (see for example, Chapter 16).

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I am sorry for a very silly question: does every $G_m$-bundle necessarily extend to a line bundle? – Mikhail Bondarko Jan 26 '12 at 11:01
Yes: $\mathbb G_{\rm m}$ acts on $\mathbb A^1$ by multiplication, and the line bundle associated with a $\mathbb G_{\rm m}$-bundle $Y \to X$ is the quotient $(Y \times \mathbb A^1)/\mathbb G_{\rm m}$. – Angelo Jan 27 '12 at 6:42
Thank you!! Do you think that I can say in a paper that this fact is 'well-known', or that some (sketch of) a proof is necessary? – Mikhail Bondarko Feb 5 '12 at 10:23
A sketch of argument might be in order, if you can't find a reference. – Angelo Feb 5 '12 at 11:15

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