With gasoline prices at a two-year high, President Barack Obama today called for a crackdown on “price gouging” at the pump. Some consumers may feel relief to hear that the White House intends to protect them from supposedly unscrupulous suppliers. But the President’s energy policies are a lot more to blame for the current high prices than any market manipulation. And to the extent his “price gouging” rhetoric persists, the rise in oil prices could worsen.

No one person can “control” gas prices, but the president of the United States certainly has a lot of potential influence, for better or worse, in that department.

The record shows that government price controls have consistently proven to be disastrous. In the 1970s, for example, artificially low prices imposed by the Carter Administration resulted in shortages that caused gas lines a la Eastern Europe.

Quotes are from the Diane Katz at the Heritage Foundation

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