Regulatory obstruction of investments in gasoline refineries is probably a more significant threat to the affordability of gasoline than any approaching exhaustion of oil reserves. Reestablishment of refiners’ reasonable property rights and adoption of strict liability as the major instrument for controlling carbon dioxide and refinery pollution might end what otherwise may become an ever-worsening, regulatory-induce “energy crisis.”

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Other Independent Review articles by Craig S. Marxsen
    Fall 2003   Bountiful Harvest
    Winter 2003   Prophecy de Novo
    Summer 2000   The Environmental Propaganda Agency