Stop the Scapegoating

By Ben Stein

There is something profoundly disturbing about the national craze to blame the oil companies for higher gasoline prices. It's not disturbing that people are upset about having to pay hugely more for gasoline and oil products. It's not disturbing that they are looking for someone to blame. The disturbing part is that we as a nation and as a government are blaming entities that have absolutely nothing or next to nothing to do with causing the high oil prices. It is as if we just arbitrarily decided that all left-handed people were to blame for the oil prices. That's how crazy it is.

Oil companies do not set oil prices. Oil prices are set on gigantic world markets by young millionaire hedge fund traders, by university endowments speculating in commodities, by Chinese importers seeking new sources of oil for their red hot economy, by India doing the same thing, by us Americans needing cars to make us feel big and tough. Read more.