.comment-link {margin-left:.6em;}
Heavy-Handed Politics

"€œGod willing, with the force of God behind it, we shall soon experience a world
without the United States and Zionism."€ -- Iran President Ahmadi-Nejad

Friday, October 24, 2008

Falling Oil Prices: Useful Lessons from the Slump at the Pump
by Ben Lieberman


Last summer's record-breaking oil and gasoline prices—exceeding $140 per barrel and $4 per gallon—received plenty of attention in Washington and sparked a host of proposed responses from Congress. However, the real lessons are to be learned by studying the dramatic drop in prices since then. These lessons, if incorporated into the nation's energy policy, could help prevent prices from going back up to record levels in the future.

Lesson 1: Blaming Big Oil, Wall Street Speculators, or Other Scapegoats Is a Waste of Time

Anger at high prices last sumer led to the usual push for politically convenient scapegoats. The public was told that major oil companies and Wall Street speculators were responsible by manipulating prices to their benefit, and in response Congress proposed all manner of punitive taxes and regulatory crackdowns. However, the current drop in prices should throw at least some cold water on these claims.

Such allegations are made every time energy prices go up. They..... [more]

1 Comments:

  • It's a good article but it lacks teeth. It doesn't expose any of the lessons or methods. It casually mentions drilling our own oil but doesn't drive home the point.

    Energy Independence needs to be one of our top priorities. I'm afraid we have lost are way. We need to get our eye back on the ball.

    By Anonymous Anonymous, at 2:13 AM  

Post a Comment

<< Home