Swimming with the Razorfishes

Thursday, May 26, 2005

I keep hearing people in Congress lamenting about the price of gasoline. Urging for the passage of this or that bit of energy legislation.

Oil is expensive because we are running out of it.

So many of the people crying about the price of gas are "free market" advocates. Why is it so difficult for free market people to understand that scarcity makes things more costly?

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