We Needed Higher Oil Prices
On this episode of Minor Issues, Mark Thornton makes the counterintuitive case that higher oil prices early in the Persian Gulf conflict might have reduced the economic damage. He explains how government intervention and the release of strategic oil reserves distort market signals, discourage production and conservation, and leave the global energy market increasingly vulnerable to future disruptions.
See also the "Crude Oil Prices: West Texas Intermediate (WTI)" chart at https://fred.stlouisfed.org/series/DCOILWTICO
2026 is the Year of Rothbard—Murray's 100th birthday—and we're celebrating…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.