J.D. Tuccille writes in Reason about high gas prices.
- Gas prices are largely driven by global supply and demand, but domestic policies imposed by the Biden administration have made energy more expensive.
- Regulations on refineries are overburdensome and lead to refineries having razor-thin profit margins, or shutting down entirely.
- Calls from politicians to “shut down fossil fuels” have also led to fewer investments in energy infrastructure, which have hobbled our ability to respond to high prices.
- To reduce prices in the future, the Biden administration must reduce regulations and empower our domestic energy producers.
Read the full article here.