More Drilling Won't Lower Gas Prices—Price Controls and Renewables Will
It's the hallmark experience of summer 2022. You're rolling down your local street, heat waves shimmering off the asphalt, breeze blowing through open car windows. But when you stop at the light, an impossible number catches your eye. Huge and stark, the sign proclaims"REGULAR: $4.95." It was $4.70 just last week!
When Russia invaded Ukraine, countries around the world began sanctioning Russian oil. Eye-watering gas prices have piled onto a seemingly endless list of crises and pain points for consumers. But media coverage of gas prices swings between incomplete, misleading and downright false. The truth is, gas prices have little to do with White House decisions, and there are few quick fixes.
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