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Politics : The Castle

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To: TimF who wrote (3273)	4/9/2004 9:00:12 PM
From: TimF	Read Replies (1) of 7936

A Rite of Spring In the spring of each leap year, we have a predictable—if tiresome—dog-and-pony show: the candidates for President of the United States denounce the newest gasoline price increases. We lived through this political purgatory four years ago, and it looks as though we will experience it again. Recently, the soon-to-be Democratic nominee for president, John Kerry, used a California gas station as his backdrop to accuse the Bush Administration of creating the conditions that have caused the current surge in prices. While this article will show that government—including the current occupants of 1600 Pennsylvania Avenue—is the main culprit, the reasons that Kerry gives for the present situation do not square with the facts. As we have dealt with this issue many times on this page, it is not necessary to again present the simple facts of supply and demand in the oil industry. However, being that the politicians are first in line to "address" this issue, I believe that it would be instructive to list a few myths of this current "crisis" (or whatever the political classes and their media lapdogs are calling it these days)... mises.org

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