https://issuesinsights.com/2021/11/29/needed-protection-against-our-professed-protectors/
Responding to retail gas prices that have skyrocketed to record levels, President Joe Biden has decided to pose as Americans’ protector from abuses in the energy marketplace. Ignoring his energy policy resume, which includes his cancellation of the Keystone XL pipeline, limiting of drilling leases and opposition to fracking, each of which predictably raises oil and gas prices, he wants to move blame by pointing his finger at alleged price-gouging, manipulation and/or collusion. As the president’s letter to the FTC put it, “The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.”
However, that portrayal is simply a very well-worn, calculated pretense.
Real collusion has long been illegal, which raises the question of why our supposedly vigilant regulators didn’t prevent what they suddenly want to use now as a scapegoat until after the fact. Oil and gas are heavily regulated on the premise Americans need to be protected from the risk of such industry depradations. So where was the “protection”?
There has also been a long list of past industry investigations, also timed to bail out politicians and regulators from well-deserved blame, which have produced no evidence of collusion.
Further, insinuations of gouging, manipulation or implied collusion rely on ambiguous terms. What evidence could prove, rather than just assert, gouging? Political assertions run in terms of charging “excessive” prices or failing to charge “fair” or “reasonable” prices, but none of those modifiers have clear meanings.