Jeff Luse writes in National Review that corporate greed is not to blame for high gas prices.
- Progressive lawmakers have begun to blame corporate greed and price gouging for the high price of gas, when in fact global supply and demand is largely to blame.
- As economies opened up after the pandemic, global demand for gasoline rapidly outpaced supply, leading to high prices.
- Political signals from the Biden administration have also exacerbated the problem and made it harder for domestic companies to produce energy.
- While there is little that Biden can do in the short term, he can lower prices long-term by reducing regulations and investing in key energy infrastructure.
“While gas prices are largely a result of global markets, policy decisions affect future supplies and investments. The ill-considered energy agenda being pushed forward by the White House has hurt American companies and consumers alike.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
