Daren Bakst and Rachael Wolpert write about the impacts of high gas prices in The Daily Signal.
- High energy costs translate to every sector of the economy including food and retail.
- Low and middle income families are disproportionately impacted by these high prices because they have to spend a bigger share of their income on utility costs.
- While gas prices are largely determined by global markets, America’s leaders can implement reforms to reduce costs.
- By removing government-imposed barriers, investing in infrastructure such as pipelines and refineries, and allowing American companies to produce, policymakers can lower energy costs for consumers.
“From the gas used for cars to the diesel used to operate farm equipment and transport goods across the country, the lives of Americans benefit tremendously through these fuels. And when prices surge to especially high levels, this inevitably causes significant harm, especially to the poorest Americans.”
Read the full article here.
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