Wednesday, April 19, 2006

A Good Explanation of Oil Prices

This Investors Business Daily article gives a great expose of the panoply of reasons why gasoline is so expensive now, putting particular emphasis on the details of how government regulations make it so difficult to (1) produce gasoline, (2) open new refineries, and (3) introduce competition into the marketplace.

[Thanks to for the photo.]

There is one thing the article doesn't mention: The decreasing value of the dollar that pays for the stuff.

Read it.


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