"There is no free market in oil"
About this Quote
The subtext is that oil is not priced by pure supply and demand but by power: cartel discipline (OPEC+), geopolitical choke points, sanctions, military protection of shipping lanes, and a domestic policy ecosystem that quietly rigs the board. “Free” collapses under the weight of long-standing subsidies, favorable leasing terms, externalized climate and health costs, and the sheer market concentration of refining and distribution. Even “choice” is constrained; most Americans can’t opt out of gasoline without structural alternatives like transit, dense housing, or EV infrastructure. That’s not a free market, it’s a captive one.
Context matters: DeFazio, a longtime Democratic congressman associated with transportation and infrastructure policy, is speaking from the world of hearings, oversight, and price-spike politics, where “market forces” is often a euphemism for “don’t blame anyone.” The line works because it flips the burden of proof. If oil is already managed, subsidized, and secured by the state, then pretending it’s laissez-faire isn’t economics - it’s messaging.
Quote Details
| Topic | Business |
|---|---|
| Source | Help us find the source |
| Cite |
Citation Formats
APA Style (7th ed.)
DeFazio, Peter. (2026, January 17). There is no free market in oil. FixQuotes. https://fixquotes.com/quotes/there-is-no-free-market-in-oil-58013/
Chicago Style
DeFazio, Peter. "There is no free market in oil." FixQuotes. January 17, 2026. https://fixquotes.com/quotes/there-is-no-free-market-in-oil-58013/.
MLA Style (9th ed.)
"There is no free market in oil." FixQuotes, 17 Jan. 2026, https://fixquotes.com/quotes/there-is-no-free-market-in-oil-58013/. Accessed 1 Apr. 2026.




