Among the foolish things we hear from time to time is the claim that government policies are not to blame for the high prices consumers experience at the gas pump. Coronavirus did it, we are told, or Putin did, or corporate greed, or etc. Whatever did it, it wasn’t the angry bird in the Oval Office or his flock.
Well, of course, everything that happens in the world affects every other thing that happens or exists. In this sense one can blame anyone or anything for anything at all, which Joe Biden does shamelessly.
High gas prices, however, reflect the fact that gas producers right now cannot produce enough gas for prices to fall. NRO mentions several reasons for this:
- Oil refineries cannot be built.
- The Jones Act limits oil imports.
- Federal policy seeks to reduce future demand for fossil fuels.
Other factors apply, but overall the problem is that Joe Biden and his cronies are committed to controlling the oil industry the way the Soviets once were committed to controlling the wheat industry.