Following the House Democrats skewering of oil company executives early last month, James Coleman of the American Enterprise Institute noted that “High energy prices are no more caused by corporate greed than the low oil prices of 2015-2020 were the result of corporate generosity.” Frankly, we will never understand why politicians cannot grasp, or simply refuse to acknowledge, the simple Econ 101 reality of supply and demand pricing and the impact of their constraints on exploration and development.
