Policy Documents

Oil Prices and the Myth of "Market Manipulation"

Bernard Weinstein –
April 18, 2012

This posting at the Bush Institute website notes that oil and gasoline prices are near record levels.  Yet, President Barack Obama has proposed regulating “oil speculators” because he fears they, in a manner of speaking, fix prices artifically high.  The author points out that the President lacks of energy markets.  Indeed, to make prices lower, we need the freedom to access resources, and that means reconsidering his veto of the Keystone XL pipeline, and expediting the issuance of permits to drill on federal lands, the outer continental shelf, and the Gulf of Mexico.