by Rick Lowe
Like the unpredictable timing of a geyser, Mr. Leslie Miller, now Minister of Agriculture and Fisheries recently spouted off again about the oil companies doing business here in The Bahamas.
Unfortunately his choice of language is unbecoming for a so-called "leader".
As Arthur E. Foulkes pointed out in an article titled The High Cost of Misunderstanding Gasoline Economics for the Foundation for Economic Education:
Government officials may wish to magically or legally make gasoline more plentiful or less expensive, but they cannot change the forces of supply and demand. Indeed, their tampering only makes matters worse.The gas lines, shortages, and occasional violence that accompanied gasoline price caps in the 1970s should serve as an effective reminder. Politicians should heed the lessons of history and sound economics. To be sure, end all privileges for the oil companies, but leave gasoline prices alone.
Click here to download a PDF of the entire article.
Maybe if Mr. Miller took the time to read editorials like this he would begin to understand that he should first take a look at his government's policies and take a different approach to solving his perceived "rip offs". He might even encourage them to lift the moratorium on gasd stations and invite another oil company in to compete for market share.
And maybe, just maybe he will learn to have some tact along the way.
