gas prices

Rep. Ed Markey: Real Genius

by William Yeatman on May 10, 2011

in Blog, Features

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According to F. Scott Fitzgerald, the finest writer in American history, “The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function.” By this criterion, Rep. Ed Markey (D-MA) is a real genius, because he manages to function in the Congress, despite the fact that he thinks the price of gasoline should go up and down, simultaneously.

As one of the Congress’s foremost global warming alarmists, Rep. Markey believes that hydrocarbon energy is the cause of the supposed “problem” that is global warming. Due to this belief, he is a staunch supporter of energy policies designed to make hydrocarbon energy more expensive, so that Americans use less of it, and thereby fight global warming. For example, he co-authored the American Clean Energy and Security Act, a cap-and-trade energy rationing scheme passed by the House of Representatives in June 2009. (Thankfully, the bill died in the Senate.) Because the entire point of this policy was to “put a price” on carbon, it would have increased the price of gasoline, by design.

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Energy Populism at the Justice Department

by Brian McGraw on April 22, 2011

in Blog, Features

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In case you haven’t checked recently, gas prices are high again. Fear not, because the DoJ is on the case: “High gasoline prices prompt Justice department to eye energy industry.” From the article:

Attorney General Eric Holder made no secret the move is a direct response to public angst, not to current evidence of any illegal conduct.

…

While promising official vigilance, the attorney general acknowledged regional differences in gasoline prices, and said, “It is also clear that there are lawful reasons for increases in gas prices, given supply and demand.”

At least give them credit for admitting that they’re wasting taxpayer dollars on a bunch of nonsense. If public conern is the only metric for a DoJ bureaucratic task-force, there are a number of other issues American’s are inappropriately worried about. I’d be shocked if the Department of Justice was interested in wasting its time on those issues.

There was a good piece in Forbes explaining the (lack of) evidence that speculators have been driving the price of oil by Jerry Taylor and Peter Van Doren.