June 19, 2007
NO ONE'S EVER ACCUSED THE LEFT OF GRASPING BASIC ECONOMICS, BUT...
US Congress set to battle over gas-price 'gouging': The Senate and House make a controversial move to control alleged profiteering. (Peter Grier, 6/20/07, The Christian Science Monitor) Many Democrats think price gouging should be a federal crime. They've included a provision in the energy bill that would make it illegal to reap "excessive" profits at the pump in times of a national energy emergency.
...you'd think even they could grasp that the more gouging the less gas will be consumed. If anything, they should be adding to the gouge via taxes. It's hard to avoid the conclusion that they're just reacting to the fact that W and Dick Cheney come from the oil biz.
People like to say they care about Global Warming (TM). But they actually do care about gas prices.
Posted by: b at June 19, 2007 5:41 PMGas gouging is already a federal crime, a state crime, a county, city, hamlet, etc. crime. Any gouging being carried on is from taxing authorities, not oil companies.
Posted by: erp at June 20, 2007 9:48 AM