20.12.08

GOTT ERHALTE HENRY KAISER. Michael Giberson reflects on an old "Energy Czar" computer game and the pitfalls the receiver "Car Czar" will likely encounter.

You can “promote or restrict” resource supplies, you can “raise or lower” taxes, and you can “tighten or loosen” environmental restrictions, but when it comes to prices your only option is to “regulate.”

But wasn’t the most successful energy policy initiative to come out of the late 1970s — at least to the extent we were trying to ‘keep people happy and maintain sufficient energy supplies’ — the deregulation of oil and gas resource prices?

But what good a Tsar without the opportunity to set hand and seal to ukases?

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