Posted by Mitch Kokai at 08:32 AM
Given the recent discussion of regulating gas, I enjoyed this observation in Mortimer B. Zuckerman's latest U.S. News column:
Everyone knows that over the past three years the price we pay at the
pump has doubled. The populist rant that this is the fault of
"rapacious" oil companies is a glib and false response, and it's
especially unattractive when it comes from Democrats, who have
systematically blocked attempts to increase domestic oil production.
Oil prices, in fact, are determined by a complex, and increasingly
competitive, global market.
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