Trying too hard

The New York Times Business section tells us that the refiners are trying so darn hard to keep up with demand for gasoline that they're breaking their plants, which limits supply and drives up prices. Reporter Jad Mouawad manages not to quote one single skeptic about the oil industry's claims. The closest he gets is anonymous:

Some critics of the industry have theorized on Internet blogs that the squeeze on gasoline and other refined products points to a deliberate effort among oil companies to bolster profits by keeping supplies tight. But experts point out that the companies have little incentive right now to hold back on fuel supplies.

The common assumption of business writers everywhere is that the myth of the invisible hand keeps industries from manipulating prices. No one remembers the scandalous conspiratorial theft by deregulated electricity producers in California (obligatory disclaimer: alleged). That was yet another reason that Enron was a terrible rapacious company that demanded, but didn't get, rational regulation.

Like many articles in business sections across the U.S., this one is biased in favor of the industry instead of the truth.