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Always Low Prices

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I love this letter [2] that appears in today’s Wall Street Journal:

I was surprised to learn
from your editorial that Hugo Chávez is allowed to sell oil to Joe
Kennedy’s Citizens Energy Corp. at a 40% discount. Surely a price this
far below market runs afoul of the "antidumping" policies beloved by
many in Mr. Kennedy’s party. Shouldn’t the American public be protected
from lower prices on oil in the same way they’ve been protected from
lower prices on bicycles, frozen concentrated orange juice, tissue
paper, footwear, fishing tackle, hot-rolled carbon steel, televisions,
replacement windshields, shrimp and several hundred other imported
items. If Democrats allow lower prices here, they may even have to
tolerate Wal-Mart.

Bruce E. Ikawa
Professor of Business and Economics Hillsdale College
Hillsdale, Mich.

(Hat tip to Mike LaFaive.)

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