September 7, 2005

Gas price gouging

With testimony today in congress that gas prices have risen around 120% over the past year, but crude oil prices have risen 60%, and bearing in mind that oil company profits have set all time record highs, should there be government intervention to ensure that gas stations and oil companies don't engage in price gouging?

And if so, how do you feel this could be accomplished? Setting price controls would spark howls of protest from the rabidly free-market right and others. So what could be done, other than scolding?

2 Comments:

At 9/07/2005 7:24 AM, Blogger Polt said...

What should be done about price gouging at the pumps? how about COngressional investigations into the monopoly held by a few companies? How about breaking those companies up, ala Ma Bell in the early 80's? How about fining those companies that raised the price of gas 120% while oil prices only rose 60%?

Oh, but that'll never happen, not with two oilmen in the White House and Congress afloat on a sea of oil money.

What we need to do is get Democratic control of at least one house of Congress next year. Then, maybe, something can be done.

 
At 9/08/2005 7:40 AM, Blogger The Inside Dope said...

Well said Polt.

The solutionn, or at least the beginning of putting the country on a sane course, is to get rid of this administration, and even more critically, put Dems in charge of both houses of congress.

This reign of error has been disasterous for this country, literally.

But the fact remains that for 6 years now, they've made it their top priority to entrench themselves in power, filling the judiciary at all levels with right wing judges, redrawing districts to ensure republican victories far into the future, and countless other measures below the radar that will ensure that they have their way.

Any Dem president or congress will have to work long and hard to undo the damage that has been done in such a relatively short time.

 

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