Market more powerful than big oil

It seems like yesterday mobs clamored for government to spank Big Oil for gouging. “Windfall profit taxes!” they demanded as gasoline prices in June rose to $4.33 nationally. What a difference a season makes. Gasoline prices now are around a buck and half in some parts of the nation and $2.40 on average for New […]

Intervening in free market won’t help prices

By Freedom Newspapers Former Soviet Premier Nikita Kruschev once noted, “Politicians are the same all over. They promise to build a bridge even where there is no river.” He wasn’t speaking literally, of course. He was referring to the bad habit politicians have of spending taxpayers’ money on programs that have little or no real […]

Curtailing profits will only lead to stagnation

Freedom Newspapers Far too much is being made about allegedly “obscene” oil company profits, most often by demagogues trying to whip up the mob with allegations of “price gouging,” industry collusion and “profiteering.” We expect this from politicians and pundits of the anti-capitalist stripe, and from greens reluctant to point the finger at a U.S. […]

Price-gouging law will dampen charity

Walter Williams The Virginia Senate just passed the Virginia Post-Disaster Anti-Price Gouging Act of 2004, which now awaits Gov. Mark Warner’s signature. In part, the act says, “During any time of disaster, it shall be unlawful for any supplier to sell, lease, or license, or to offer to sell, lease, or license, any necessary goods […]