Oil-price hearing a dark moment for free-market party

11/21/2005
It was good to see, in this week’s congressional inquisition of oil company executives, that Republicans still have among them someone willing to defend markets.That would be Federal Trade Commission Chairwoman Deborah Platt Majoras, who also testified. She opposed a proposed federal price-gouging law as “an indirect form of control, which would be detrimental.”Otherwise, the hearing on oil prices and oil company profits represented a dark moment for the party of free markets.“Most Americans want to know how the price of oil is set,” said Sen. Pete V. Domenici (R-NM), chairman of the Energy and Natural Resources Committee. “Many think that somebody rigs...
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