Through the Eyes of Greed

Source: American Institute for Economic Research
by Antony Davies

“When gas prices rose 150 percent from June 2020 to June 2023, politicians and the media didn’t hesitate to blame corporate greed. The evidence they offered was two-fold: rising prices and rising profits. Yet over the past six months, gas prices have fallen 33 percent. Are politicians and media congratulating oil companies for displaying altruism? No. Market skeptics seem only to see prices through the eyes of greed. When prices go up, it must be greed on the part of the oil companies. And when they come down, it must be ‘market forces’ that are outside the control of the oil companies. There’s a perverse symmetry here, because politicians hold themselves to the same lopsided standard, though in the other direction.” (03/16/23)