Does Geocoder gem work with google API key?

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I am using ruby geocoder gem for my project and as the project is growing I am starting to look into connecting to the Google API key. After adding this to the project:

Geocoder.configure do |config|

# geocoding service (see below for supported options):
config.lookup = :google

# to use an API key:
config.api_key = 'my_key'

# geocoding service request timeout, in seconds (default 3):
config.timeout = 5

end 

I get Google Geocoding API error: request denied. when I start the application. From reading around, it seems like others switch over to yahoo if they choose to continue using the gem. Can I configure the gem to work with google api key? Mainly, I would like to keep an eye out for the amount of daily queries to avoid going over the limit.

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