An Opinion piece at The Hill asks if price controls are the answer to our gas and oil problems. It seems to me Venezuela already tried that and it has failed miserably. It is obviously not capitalism and it fails wherever it is tried.
The far-left authors claim that this is what might be needed to control inflation as if Democrats didn’t manipulate our economy and force this upon us.
They also want a war we can’t afford.
The authors of The Hill article write, “Whatever the drawbacks of price controls, however, the issue is no longer one of economic policy alone. It is now a strategic problem too, as the Biden administration’s other options for cushioning the impact of the Russian energy ban have their own downsides.”
The problem can be solved in part by stopping the wild spending and not destroying the fossil fuel industry. However, that’s not on their list.
Russia supplied 10% of the world’s crude up until the invasion but the embargoes on Crude have caused a major disruption in the oil market. It’s the worst since the oil crisis in 1973.
The IEA and Western economies are looking at ways to save oil. Some are talking about lowering the speed limit to save gas as they did in the ’70s. Others are talking about working from home part-time or recommending or telling people not to drive on Sundays in cities.
Pete Marie Antoinette Buttigieg said people who can’t afford the gas should take the bus. Oh, and you can buy an electric car if you want.
You can car share as well because these elites plan to make your life as miserable and as Orwellian as they can.
The one thing the West won’t do is increase fossil fuel production or even nuclear because of their whacked ideology. They seem to think only conservation can save the earth 100 years from now. If we did everything they want, best estimates suggest a decrease in the earth’s temperature by half a degree.
This is as China, India, and Russia build coal plants every week.
According to Zero Hedge, Prime Minister of Italy Mario Draghi stated Friday that price controls could be coming to the natural gas markets, likely meaning petrol is next.