Senate Minority Leader Chuck Schumer evidently hasn’t visited a gas station this year. If he had, he’d realize that his recent diatribe against the oil industry is based on a complete fiction.
During a recent television appearance, Sen. Schumer lamented that “gas prices are sticky. You know when the price for oil goes up on the markets, it goes right up, but it never goes down.” New York’s senior senator further claimed that big energy companies are stifling competition to keep prices high.
These assertions are patently false, as anyone who has refueled his vehicle or paid a utility bill lately can attest. Our domestic energy boom has resulted in some of the lowest gasoline and electricity prices Americans have seen in decades.
American energy production has surged in recent years thanks to hydraulic fracturing and horizontal drilling. These technologies have enabled energy companies to harvest oil and