If Biden Were Serious About Energy Policy, Here’s What He’d Propose

When President Joe Biden chastises oil companies for profiteering, he evokes a J.R. Ewing–style caricature of a greasy, greedy executive sneering in a giant Stetson. Satisfying as it may be, this narrative is unmoored from economic reality. As with any other commodity, oil producers are price takers, not price makers; oil and gas shortages inevitably […]