Submitted by CARPE DIEM

With all the commotion in the media and in politics about the high price of gasoline, is there really some terribly complex explanation?

Is there anything complex about the fact that with two countries– India and China– having rapid economic growth, and with combined populations 8 times that of the United States, they are creating an increased demand for the world’s oil supply?

The problem is not that supply and demand is such a complex explanation. The problem is that supply and demand is not an emotionally satisfying explanation. For that, you need melodrama, heroes and villains.

Thomas Sowell

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