Which is exactly what throws Econ 101 out the window.
When you try to only consider a subset of the market.
The only "subset" that really matters is the one most of us are in...the American private sector.
I'll state this as a fact, not just my opinion:
The highly productive US economy relies on the availability of inexpensive and abundant energy....We don't have that.
I was taught in economics that supply and demand curves respond to impacts in the market. Just because those impacts are not desired by the consumer doesn't make them magically go away.
The only "subset" that really matters is the one most of us are in...the American private sector.
You want want government regulation to tell private industry who they can sell their product? And the impact on the private industry after that regulation?
I'll repeat from above.
Ban the export of wheat this year and wheat prices will drop, this harvest. But don't expect the farmers to plant the same amount of wheat next year, and the prices are going to skyrocket and for longer than a single season. The oil is the same, but a longer time frame.
The highly productive US economy relies on the availability of inexpensive and abundant energy....We don't have that.
Adding more government regulations, more restrictions on buying, selling, etc are going to make it worse. I find it amazing that any conservative doesn't understand more government interference hurts prices in the long run.