The Congressional Energy Crisis

Recently members of Congress treated the media and the American public to the spectacle of questioning oil executives as to why gasoline prices were so high.  Though this theater has been repeated with some vigor since at least the 1970s, members of Congress seem to lack no eagerness for these predictable performances of outrage.  Perhaps of greater interest would be some careful self reflection among members as to how Congress has caused the very shortages and price spikes that they are blaming on oil executives.  The regulatory relationship that Congress has relentlessly sought to impose on the energy sector of the American economy has had deadly effects on the supply of gasoline in the United States.  Whether limiting the building of gasoline refineries or banning yet another area of the United States from fossil fuel extraction, the Congress has been quite deliberate for some time in reducing the supply of energy for Americans.  But in the chambers of...(Read Full Post)