Think you can limit the demand and bring the price down while pretending the supply curve of economics doesn’t mean anything is foolish.
You could ban the export of wheat. Wheat will be cheap this year, as long as you do it after planting season.
What do you think will happen to wheat and the price for it the second year?
We aren’t even in the same ball park in this discussion.
I certainly don’t know everything about it but I can tell you this, my experiences and my families experiences in the oil and gas industry goes all the way back to the mid 30’s. My father used to make a grand a month retipping rock bits in the 30’s, enough to buy a new car every month, an enormous amount of money back then.
The oil bunch have never, ever been forward thinking nor has this country ever had a national energy policy. It has come a time we as an industry and country think about the future. Taking the typical 20th century attitude of “the hell with it we will drill more wells tomorrow if we need it” will no longer work because there are fewer and fewer places to drill that have “the stuff”.
I am not saying we should try to manipulate the supply and demand curves but I am saying we should think of ourselves and the countries future first and use what assests we have prudently.
So, do you fit into the typical baby boomer attitude of “screw it, I’ll save money for retirement tomorrow?” Or are you gonna save today for tomorrow?
Of course, we could just give it all to Obamma and the Ketchup man and let them give it away.