If we desire speculators not to bid up oil supplies, we need to throw off our shackles and drop the restrictions on supply and demand. Speculators need a reason to believe prices will go down.
One of the free market’s chief criticisms is that there is inefficiency from buyers not knowing everything producers know. That situation can be remedied, without coercion, to the benefit of buyers and information brokers. Instead, the government just cost someone an opportunity to earn income.
Demand has risen, and it will be more expensive for growers to produce more. With frozen prices, who would willingly boost their production in order to take a loss?
With different areas of Missouri wanting different things, the best thing to do is for the state to get out of the mandatory E10 business and let individual cities decide what they want to regulate.
Obama may say he’s for jobs, but increasing the payroll tax and keeping retirement funds out of Social Security run counter to his intentions.
