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The Right Way to Help People Hurting From High Energy Prices

Reducing them isn’t the answer.

Gas prices at a Shell station in Hercules, California, March 29, 2022. 

Gas prices at a Shell station in Hercules, California, March 29, 2022. 

Photographer: David Paul Morris/Bloomberg

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Energy prices are through the roof as Russia continues its war against Ukraine. It’s all too tempting for governments the world over to attempt to lower them directly. Doing so, however, is a mistake. Not because people don’t need help: They do. But lowering the cost of each gallon or liter of gasoline, each cubic foot or meter of natural gas, or each kilowatt hour of electricity is mistaken, in more ways than one.