Shades of the '70's! Everybody's in a panic about the price of gasoline. Of course, our elected honchos in Washington know just what to do about it. They'll wring their hands, whine about oil company profits, and pass laws about price-gouging. But, they'll do nothing that actually helps. It makes one wonder if any of them have ever taken a course in basic economics. But then, maybe they could help--that is, if someone could just figure out how to harness the power of the hot air that always emanates from Washington.

For more rational thinking on the subject, check out the following links. It's a work in progress, so check back often for updates.

See also:

Oil and the Apocalypse
Blaming BP for higher gas prices misses the mark, writes Chris Westley. And contrary to the White House, more regs are not the answer.

The Real Gas Price Gouger
Imagine if you had to fork over 50 cents in taxes for every $1 you spent on groceries.
By Eric Peters

Stop the Scapegoating
There is something profoundly disturbing about the national craze to blame the oil companies for higher gasoline prices.
By Ben Stein

Profits of Doom?
Americans should be happy that oil companies are making money.
BY BRENDAN MINITER

Oil Feeding Frenzy
The feeding frenzy in Washington over oil prices and profits may win pander-points for cynical politicians, but it takes the public's eye off the ball.
by Sheldon Richman

Late word from the oil patch
Are we running out of oil? Alan Caruba says don't believe the hype. The United States has enough of its own reserves to meet American demand.

Why punish oil companies just when we need more energy?
The price of oil is being driven up by scarcity as demand for the commodity increases. Dennis T. Avery argues the way to reduce prices is to make the product less scarce.

Democrats Manufacture "Economic Crimes"
Democrats are calling for criminal investigations into oil company actions, new wealth transfers from taxpayers and consumers to the ethanol lobby, and worse. Bill Anderson explains.

Hooray for high oil prices?
The way politicians talk, it's as if we all agree on oil. And we're all stupid.
by Paul Jacob

Easing the pain at the pump
When a crisis strikes, Americans can count on Congress to swing into action. So as gasoline prices soared toward $3 per gallon, lawmakers did what they do best: They complained.
by Edwin J. Feulner

Running on Empty
On the highway, fuel is in short supply. In Washington, ideas are.
BY BRENDAN MINITER

Incendiary Ignorance
Washington is aflame with gas-price idiocy.
By Jonah Goldberg

Mixing gasoline and moonshine
"Gouging" is a meaningless word. Charging more than others do for the same fuel is inconceivable at the wholesale level because fuel is traded on global markets and the going price is instantly visible online.
by Alan Reynolds

The Gas-Tax Hustle
Congress toyed with the idea of a tax holiday on gasoline as a way to drive the price down to address constituent complaints. But, as you might guess, they rejected it.
by Llewellyn H. Rockwell, Jr.

The Supply-Side Cure to the Energy Crisis
Liberals and regulations caused it . . . conservatives and the free market can fix it.
By Peter Ferrara

The Path to Lower Gas Prices: Free Trade
There are many reason the price of gas is higher than it otherwise would be in a pure market setting. But one reason has received virtually no attention.
by Robert Karl Merting

Oily politicians
If there is anything worse than partisan demagoguery, it is bipartisan demagoguery. Republican leaders have now joined the Democrats in blaming the oil companies for the fact that prices rise when demand expands more than supply.
by Thomas Sowell

Oily politicians: Part II
One of the beauties of an economy coordinated by price movements is that nobody has to understand it in order for it to work.
by Thomas Sowell

Profits and High Prices: More Economic Nonsense
Anyone with even a basic understanding of economics should have seen it coming: our leaders are threatening oil companies for making money off higher prices.
by William Anderson

Gas Prices Fact or Fiction: A Primer on Supply and Demand
The recent upward spike in gasoline prices (particularly those following natural disasters) has unleashed a torrent of theories attempting to explain the pricing behavior in gasoline markets.
by Tom Lehman

The Myth of "Peak Oil"
I am often asked about the "peak oil" theory. I've even had some people send me junk mail predicting when the date would come.
by Charles Featherstone

Fallacies of the Oil Tax
Hal Varian, whose mathematical textbook has been the bane of economics graduate students for many years, has now weighed in on a solution to our oil problems: increase the federal tax on gasoline.
by William Anderson

Gas-Price Follies
n his classic Economics in One Lesson, the great Henry Hazlitt wrote that the lessons of clear economic thinking had to be relearned each generation. As gasoline prices continue to rise out of control, especially in the Midwest, Hazlitt's words prove to be true once again.
by William Anderson

How to Bring Oil Prices Down
Gasoline prices are zooming (45% over last year) and drivers are worried that this may affect their summer vacation plans, while truckers marched on Washington D.C. protesting high diesel costs.
by Mark Brandly

áá® 2006Truth In News Press