Sam Buchan writes in RealClearPolicy on ways to reduce energy prices.
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- The rise in energy prices has led to some policymakers calling for the U.S. to stop exporting American fossil fuels.
- Limiting American fuel supply to the global market is a patchwork fix that will do little to reduce energy prices.
- While there isn’t much that can be done in the short term to alleviate high prices for consumers, policymakers should implement long term solutions to prevent a future energy crisis.
- Long term solutions include approving key infrastructure such as pipelines and refineries and investing in next-generation energy technologies.
“The right course of action, and the necessary one, is for policymakers to develop policies that focus on long-term solutions, namely empowering the ability of the industry to respond to market signals by increasing domestic production and refining capacity, thereby bringing stability and relief to consumers.”
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Read the full article here.
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