Political Quotes

“Day in and day out I hear calls for price controls on electricity, and I wonder were the 1970s that long ago, or are we just suffering from convenient amnesia? Am I the only one who remembers the gas price controls imposed by President Richard Nixon in an effort to ensure an adequate supply of gasoline at reasonable rates? Am I the only one who remembers that the resulting artificial low prices did not lower consumption, but did lower supply? I guess I am the only one who does not look fondly back on the days of long lines at the local service station and gas rationing. Price controls may be nice politics, but they are lousy policy. The bottom line is that we are trying to meet today's energy needs with yesterday's energy infrastructure, and it is not working. Our energy demand has increased 47 percent over the last 30 years, and yet we have half as many oil refineries, static pipeline capacity and 20 times as many mandated gasoline blends. Low energy prices through the 1980s and 1990s have lulled American consumers and producers into believing that low prices will always be there, but now we know that is not true.”