The oil price panic

Steidtmann, Carl
August 2007
Progressive Grocer;8/1/2007, Vol. 86 Issue 10, p109
Trade Publication
The author reflects on the increasing oil and gasoline prices in the U.S. He cites that politicians proposed several solutions for the oil price increases, including price controls, excess profit taxes on oil firms and oil tax rebates for consumers. He argues that oil tax rebates do nothing to augment supply or reduce demand. He asserts that the easiest way to deter the consumption of any product is to increase its price.


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