Daren Bakst and Jack Spencer write in The Daily Signal about the dangers of price controls.
- Progressives in Congress are looking to counter high energy costs through price controls.
- The high cost of energy is not due to corporate greed, but rather a variety of factors such as supply and demand, inflation, and regulatory hurdles.
- Capping fuel costs would distort energy markets, disincentivize innovation, and hamstring domestic production.
- Top-down mandates like price controls will ultimately harm consumers, American energy security, and the environment.
“Policymakers need to remove government intervention that is driving up prices, not try to pass a bill that would double down on heavy-handed government.”
Read the full article here.