A Brief Note On Oil Industry Profits

by Don Boudreaux on April 25, 2006

in Prices

The airwaves, newspapers, and cyberspace are crowded these days with cheap and disgusting accusations that current oil-company profits are "out of control," "obscene," and "windfall."

I’ve not blogged on this issue yet because, frankly, I’ve nothing new or interesting to say.  The case for price controls, for government-mandated non-price rationing, and for a tax on so-called "windfall profits" is so lame, so utterly gossamer, that pointing out its flaws seems to be an exercise in stating the obvious.

So I offer you only this thought suggested to me by my friend Brian Summers: Too bad homeowners don’t post their property taxes, and the prices of their homes, the same way that gasoline retailers post their prices. 


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