Can the Free Market Handle the Complexities of Gulf Oil Production?
Recent policy developments have highlighted contrasting approaches to oil production in the Gulf of Mexico. President Biden has implemented measures aimed at restricting increases in oil production in the Gulf of Mexico, while President-elect Trump has expressed intentions to reverse these restrictions to enhance oil and gas production. This raises an intriguing question central to economic analysis: Can market forces alone account for all the potential outcomes of oil production in a way that best serves individuals and […]