Timothy Puko and Collin Eaton of The Wall Street Journal report that Secretary Granholm is urging oil companies to address high gas prices.
- While some policymakers blame corporate greed for high gas prices, pandemic-related supply chain issues and global supply and demand are largely to blame.
- In 2020 several refineries around the world closed, which continues to limit our supply of gasoline.
- While there are not many short-term fixes, policymakers can reduce regulations such as the Jones Act and the ethanol mandate to reduce prices for consumers.
- To create a more secure and clean energy future, we must unleash the innovation of domestic energy producers.
Read the full article here.