Price Controls (Just like Venezuela tried)

[DougBH]

@Safiel

Not going to worry about the Nixon vs Venezuela deflection. It doesn’t matter because PRICE CONTROLS are wrong in every case, whether tried by Socialist/Communist nations or whether a misguided attempt by the leader in a Capitalist nation.

And for the record, I oppose all price controls, including the minimum wage, though pragmatically it is not going away. I also oppose anti-price gouging laws, rent control and anything else remotely connect to price controls.

Congratulations on noting the immediate and successful deflection from price controls to whether they were like Venezuelan price controls or Nixon price controls.
Either way, they are a disaster. All this will do is undercut investment in oil production. Whose going to invest in oil extraction, transportation or refining when they can’t even recover the cost of their investment? Result…shortages and even higher costs down the road.
But it fits wonderfully into the idea that if we destroy fossil fuel production then magically wonderful new cheap alternative reusable sources of energy will appear.