How Rising Gas Prices Hurt American Households
Higher gas prices lower employment, income, and spending. To the extent that the high price of gasoline is not a clear signal because of excessive taxes and regulations that artificially make oil scarcer, the government can implement policies that would allow for more oil production. The government can also encourage innovations in energy supply by keeping regulatory burdens to a minimum.
United States Karena Campbell Bureau Of Economic Analysis International Energy Agency Heritage Foundation Bureau Of Labor Statistics
Source: heritage.org