April 26, 2006
70's NOSTALGIA
A lot of readers may not remember sitting in the back seats of sweltering cars during a summer in the late 1970s when federal price control policies for gasoline caused shortages and rationing; I barely do, but some things are indelible. Some politicians are attempting to resurrect the "good old days."
In an effort to keep New Yorkers from digging deeper into their pockets, some members of City Council are fighting to bring gas price gouging to a halt.Several City Council members are introducing legislation tomorrow that would prevent gas stations from increasing prices at the pump more than once a day.
Officials say gas stations only receive fuel deliveries once a day, therefore hiking up the price of gas more than once a day is considered price gouging.
Price controls = shortages. That's an economic concept so basic that any Sociology Major forced to take a semester of Micro Econ could grasp it. Memories are short, however, and legislative hubris is never-endingly brimming.
Tagged:Posted by Lexiphane at April 26, 2006 10:43 AM
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