<Let's All Take a Minute--An Open Thread The Oil Drum CAFE, gas taxes, the SPR, and rationing>

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Engineer-Poet on August 31, 2005 - 4:25am Permalink | Subthread | Comments top
I was slightly surprised to find some words here:
Claude Mandil, the IEA's Executive Director, said that a much-needed change in onsumer habits, required to halt the oil-price run, would not happen if governments intervened by lowering taxes on the price of fuel. He said: "It's not because I want people to be hurt, it's just because I think that market signals are useful."
I'm not used to seeing endorsements of market economics from bureaucrats.
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mw on August 31, 2005 - 5:35am Permalink | Subthread | Parent | Comments top
The IEA is not a function of the US goverment - the person you've quoted is not a bureaucrat. I believe you are confusing the IEA with the EIA, the US Energy Information Association.

As for the Department of Energy, Secy Bodman confirmed live on CNN this morning that price caps were not something he would ever endorse, which is in keeping with the ideological leanings of the current government. In this case I fully agree with such leanings; I'd like to see gasat 5$ and stay there for a while.

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Engineer-Poet on August 31, 2005 - 10:05am Permalink | Subthread | Parent | Comments top
No such confusion; my impression was that IEA was UN or the like, which is also rather anti-market.
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