Oily Politics

The Supreme Court's recent 8 to 0 decision (Justice Alito not yet participating) shot down a claim that oil companies were colluding in setting prices. That claim was upheld by the far-left 9th Circuit Court of Appeals but neither liberals nor conservatives on the Supreme Court were buying it.

This unanimous vote should also tell us something about those politicians who are forever blaming rising gasoline prices on oil company collusion and "greed." There is no point exposing a lie unless we learn to be skeptical the next time the liars come out with the same story.

After hurricane Katrina destroyed a lot of oil processing capacity around the Gulf of Mexico, there was -- surprise! -- less oil being processed. With less oil being supplied -- surprise again! -- gasoline prices rose.

Thomas Sowell