Rising gas prices, as usual, have prompted all sorts of theories about the economics of energy, some of them very, very questionable. But while supply and demand are at work here, it’s not normal supply and demand.
The economics of gas prices are, let’s just say, rather complicated.
[Image via I love charts]
If you enjoyed this article, consider making a donation to help us produce more like it. The Washington Monthly was founded in 1969 to tell the stories of how government really works—and how to make it work better. Fifty years later, the need for incisive analysis and new, progressive policy ideas is clearer than ever. As a nonprofit, we rely on support from readers like you.
Yes, I’ll make a donation
