US has surplus of experts on oil business

09/19/2005
Suddenly, the US teems with experts on the oil and gas business.The price of gasoline spurted after Hurricane Katrina for excellent reasons, and everybody in the country has an irrefutable opinion about how much lower it really should be.Propelled by this gush of expertise, state attorneys general go witch-hunting for price “gougers.” And lawmakers in Washington, DC, dredge up monstrous failures of the past, such as price controls and windfall profit taxes, for new consideration. Some of these people are old enough to know better.No opinion will be offered here about what the gasoline price should be-other than that it should be what the market says it is that day. In view of ...
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