[Editor note: Tomorrow, economist Michael Giberson will critically assess government ‘price gouging’ laws.]

As an economist, whenever I hear the word “shortage” I wait for the other shoe to drop. That other shoe is usually “price control.”

– Thomas Sowell, “Electricity Shocks California,” January 11, 2001.

Like Bill Murray’s weatherman character in the movie Groundhog Day, the American public is obliged to relive certain bad ideas again and again (and again).

Like the movie the idea of price controls for energy keeps coming back, but will we, like Murray’s weatherman, reexamine what leads us to relive such unworkable concepts? The latest contestant in this march of folly was posted recently in the Atlantic Monthly’s business blog.

The idea–called a buffer fund–is to establish a target price for retail gasoline (diesel, too, though they seem to have forgotten that part of the fuel supply) and use taxes or subsidies to maintain the target price over time.…

As a political economist of a certain age, I naturally had a certain amount of Marxist writing inflicted on me, and found one particular thought of great insight. In “The 18^th Brumaire of Louis Napoleon,” Marx commented that Hegel noted that history repeats itself, but neglected to mention that the first time was tragedy, and the second time farce. A decade ago, I published “The Farce this Time” about fears of peak oil, but since then, we have experienced another energy ‘crisis’ which has remarkably resembled a commodity price cycle but which, many pundits observe, is ‘different’ this time.…

“We’ve got to call out the greenwishing of energy’s future. Excitement is good; delusion isn’t. Let’s demand proof, not promises. Reliable, affordable energy isn’t a luxury—it’s the foundation of modern life—time to get serious about what energy technologies actually scales.”

I’ve been watching this energy debate for years, and I’m tired of the hype. We’ve got politicians, billionaires, and startups promising the next big “green” breakthrough that’ll solve everything from climate change to data center power demands, with no downsides.

But most of it is what I call greenwishing—a cousin to greenwashing, where they polish up promising energy ideas, but unproven, unscalable technologies with fancy renderings, press releases, and government grants, all while the real engineering and economics lag behind.

Don’t get me wrong. I’m all for clean, reliable, affordable energy.…

“Robert L. Bradley Jr. has never chased trends or grants. He has followed the evidence—market signals, engineering realities, and the record of human progress under freedom. In doing so, he has educated generations of policymakers, students, and citizens about why energy abundance matters and how free markets deliver it best.”

In the often polarized world of energy policy and climate debate, few voices have offered such consistent, evidence-based clarity as Robert L. Bradley Jr. A Houston native, prolific author, founder of the Institute for Energy Research (IER), and creator of the influential free-market energy blog MasterResource.org, Bradley has spent more than four decades illuminating the interplay of markets, regulation, technology, and human ingenuity in powering modern civilization.

As we mark the ongoing relevance of his work in 2026, a tribute to Bradley is not merely a look back at a remarkable career but a celebration of his enduring intellectual leadership—particularly in the last five years, when his analyses have proven prescient amid the unraveling of aggressive “energy transition” mandates.…