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.