The Clown Congress does it again
The Power Line blog observes that House Democrats are responding to high gasoline prices with Congressional kabuki theater (embedded hyperlink removed):
Today House Democrats appealed to ignorance, in their usual fashion, by summoning executives from the five biggest oil companies to berate them for high gasoline prices. This is fundamentally stupid in at least two respects.Personally, I would have thought that government by public humilation had gone out of style with the 19th century Manchu dynasty. The problem, of course, is that liberals blame all economic problems on oligarchs. Thus, there are two theories as to why gasoline prices are so high:
- High gasoline prices are caused by a complex mixture of insufficient supplies of oil and refined gasoline, an increase in demand for these products, instabilities in the supply chain of these products, inefficiencies in market structure or distribution, inefficiencies in government regulation, and general irrational behavior on the part of market participants.
- None of the above. High gasoline prices are entirely due to profiteering by oligarchs.