Your current web browser is outdated. For best viewing experience, please consider upgrading to the latest version.

Contact

Send a question or comment using the form below. This message may be routed through support staff.

Email Article

ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
search DONATE
Close Nav

No One Falls for Biden’s Gas-Price Blame Game

back to top
commentary

No One Falls for Biden’s Gas-Price Blame Game

The Wall Street Journal November 22, 2021
Energy & EnvironmentOther
EconomicsBudget

The problem at the pump has been caused by the reduction in domestic production and inelastic demand.

Launching a Federal Trade Commission investigation of oil companies for collusion has long been the go-to response by politicians eager to shift the blame for higher gasoline prices away from their own misguided energy policies (“Biden’s Gas Price Diversion,” Review & Outlook, Nov. 18).

Most branded retail gas stations aren’t owned by Big Oil; they are owned and operated by independent franchisees, who set prices themselves. Those prices are set partly in response to wholesale prices, which again are not set by Big Oil, but by supply-and-demand conditions faced by independent wholesale “jobbers.”

Continue reading the entire piece here at The Wall Street Journal

______________________

Jonathan A. Lesser, PhD, is the president of Continental Economics, an economic consulting firm, and an adjunct fellow with the Manhattan Institute.

Photo by Ziga Plahutar/iStock

Saved!
Close