Free Republic

The 1970s came back so fast, I didn’t even have time to buy some leisure suits. Faced with massive inflation and an energy crisis, the obvious solution would be to incentivize more extraction and refining by lowering regulatory hurdles, a solution that eventually helped end the cyclical energy crisis 40 years ago.Instead, Democrats have decided to act by canceling lease sales, erecting more regulatory hurdles, and attacking … “price gouging.” Bloomberg Energy reporter Javier Blas reports that Nancy Pelosi will float a bill in the House that would give Joe Biden the authority to impose price controls on gasoline:US House...

China took aim this week at prices of two high-profile necessities—first baby formula, then medicines—as the country’s communist leaders try to contain surging living costs that threaten to inflame political tensions. A probe into possible price-fixing by foreign milk suppliers prompted at least two companies—Nestlé SA and FrieslandCampina—to announce a price cut. On Friday, news reports said a Cabinet agency is looking into the cost of drugs made by 60 foreign and domestic suppliers. There was no indication of wrongdoing, but the probe could be a prelude to a cut in government-set caps on prices. The action could help the...

A Maryland lawmaker is calling for a summit to evaluate the utility rate increases due later this week and has filed legislation to re-regulate the state's energy industry. Delegate Patrick L. McDonough, Baltimore County Republican, said yesterday that he will ask fellow lawmakers to return to Annapolis to review Maryland energy laws, while Baltimore Gas and Electric customers prepare for a 50 percent rate increase due Friday. "I would like to do this as soon as possible," he said. "This is where you sacrifice, this is where you're a public servant. There's been a lack of leadership on this issue...

Despite a century's worth of evidence to show how collectivist economies strangle the freedoms and benefits of the common man, our own legislators continue to put their faith in these tested and failed socialist policies - all in the name of power and prestige. For evidence, we need look no further than these very recent examples of how two states decided to "help" their citizens with their energy woes. The state of Hawaii set a cap on the price of gasoline, which took effect on September 1, 2005. The law, which allowed for the implementation of a gas cap, was...

Wal-Mart executive advocates increasing the minimum wage Wal-Mart Stores Inc. Chief Executive H. Lee Scott Jr. called on Congress Monday to raise the country's minimum wage from $5.15 an hour, saying the company's customers are "struggling to get by." Why doesn't the Wal-Mart chief call on Congress to dictate that the maximum price of a pair of pants shall be $5, that no carton of milk shall ever cost more than a buck, and that no piece of lawn and garden equipment shall ever be priced higher than $19.95? Those measures would surely help Wal-Mart's struggling customers to "get by,"...

Hawaii’s gas price cap kicks in Sept. 1 Governor unsuccessfully sought repeal; chief architect convinced it will lower gasoline prices at pump; expert says effort doomed Ron Stanton Associated Press Writer Hawaii’s one-of-a-kind gasoline price cap law is scheduled to go into effect Sept. 1, but there’s disagreement among both politicians and industry experts on whether it will actually lower prices. Gov. Linda Lingle, who unsuccessfully sought repeal of the 2004 law, has said she feels the cap will actually increase prices and create fuel shortages. But state Sen. Ron Menor, the chief architect of the law, said he is...

Scene by disheartening scene, the spectacle of a severe shortage of flu vaccine is unfolding across the country. Last week, elderly and chronically ill people waited in line for hours to get flu shots; some were turned away. One died after hitting her head when she passed out or fell while waiting. Price gougers demanded $800 for $60 vials of vaccine. States threatened to fine or jail doctors and nurses who gave shots to anyone not in the high-risk groups. Congress, the Justice Department and the Securities and Exchange Commission began investigations into how the nation has been left, on...

CBS on Tuesday night resurrected the Enron scandal and made sure to tie it to President Bush. Playing some audio tapes of conversations amongst low-level Enron sales staffers, CBS News reporter Vince Gonzales maintained that back in 2000 "they were sure President Bush would fight any limits on sky-high energy prices." Gonzales also claimed that some inarticulate vulgarity by an unidentified Enron staffer, about how Bush will "f------ whack this s---, man. He won't f------ play this price-cap bull----," was "crude, but true." Anchor Dan Rather set up the CBS Evening News story which led the June 1 broadcast: "Good...

<p>Washington -- Federal regulators unanimously created new price limits for California's electricity market Wednesday -- as state officials had urgently requested -- but only after ordering the state to form a new governing board independent of the governor's control.</p> <p>The new limit of $250 per megawatt hour is higher than the current price ceiling of $91.87 that was set to expire Sept. 30. Imposed by the Federal Energy Regulatory Commission in June 2001, the limit has been widely credited as a key element in quashing the enormous price spikes and blackouts experienced during the state's power crisis last year.</p>

<p>WASHINGTON (AP) --  Federal energy regulators on Thursday increased by 65 percent the price cap for wholesale electricity in California and neighboring states, where a heat wave and drought are straining energy supplies.</p> <p>The Federal Energy Regulatory Commission boosted the maximum price from $55.26 per megawatt hour to $91.87. One megawatt is enough to power about 750 homes.</p>

<p>Sacramento -- In December 2000, Terry Winter was a desperate man.</p> <p>As the state official charged with keeping power flowing throughout California, his task was getting tougher. Energy companies were abandoning the state's markets, apparently because prices were curbed and they could make more money in other western states.</p>