bloomberg

I hate to say I told you so. But maybe repeating an analytically based mantra, over and over again, and backing it up with current data will allow policy decisions made by Washington and state governments to be evidence-based and less prone to the influence of special interests. Drill, baby, drill will not make a sustained difference in oil and gasoline prices.

A little bit of recent history: Remember the not–too-distant political campaign for President? No, don’t, it was too painful! But I hope you do recall this frequent statement by leading members of both parties: If we drill for more oil, the price of oil and gas will come down for a sustained period and the nation would be less prone to relatively fleeting gas price hikes followed by gas price...