Politicians eye the oil market
Foundation for Economic EducationPosted: October 10th, 2008 by Thomas L. Knapp
Author: Robert P. Murphy
“With oil prices setting records every week and gas prices topping $4 per gallon, voters are getting increasingly angry. This naturally makes the politicians nervous, so they do what they can to divert blame from themselves at all costs. Two easy targets are ‘Big Oil’ and speculators. In this article we’ll see that the politicians’ accusations against these scapegoats are nonsensical, while the corresponding policy recommendations will only push oil prices higher.” (10/09/08)
