Want Lower Gas Prices? Cut The Red Tape

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Riddick
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Want Lower Gas Prices? Cut The Red Tape

Post by Riddick » 06-18-2022 07:31 PM

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Several factors contribute to soaring gas prices, but the greed of oil barons is an unlikely explanation no matter what President Biden claims. It's not that energy companies aren't in it for the money, yet it's not as if they've grown greedier in recent months. So, what has changed?

Not long ago like other businesses, oil companies would respond to rising prices by increasing supply. But the administration's ideological crusade against petroleum has been a very effective signal to rethink their entire business strategy.

Overregulation discourages investment. Oil industry insiders may coast along on profits from existing capacity, but they won’t invest in facilities to meet demand for gasoline, and offset soaring prices, until they know they’ll be allowed a future.

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