Skip to comments.Should price controls be imposed on gasoline? (Are all "progressives" economic illiterates?)
Posted on 02/29/2012 9:59:43 PM PST by 2ndDivisionVet
Gas prices rose for the 22nd day in a row, inching ever closer to a national average of $4 a gallon.
According to triple AAA, the nationwide average is now $3.73 a gallon.
Gas prices are up 14% percent so far this year.
Gasoline is already topping $4 a gallon in several states including California, Alaska and Hawaii and there are reports of $5 gasoline on Long Island. Some suggest we could see gasoline top $6 a gallon.
Gas prices are mainly rising due to soaring oil prices. The market is reflecting fear that tensions with Iran will lead to a war and disrupt oil supplies.
Signs of an improving economy, growing worldwide demand and speculators have also driven oil prices higher.
We've been here before:
In the 1970s, the Nixon and Ford administrations imposed price controls on gasoline. They were reacting to rising gas prices caused by OPEC's cuts in production.
But what followed was long lines at gas stations and an artificial shortage of gasoline.
Experts say the most likely outcome of price controls is gas rationing, like what we saw almost 40 years ago....
(Excerpt) Read more at caffertyfile.blogs.cnn.com ...
Many voters will stop to buy some gas before they head on to their voting site.
If the price of gas is $4 or more at the pump on that day, many voters will be in a very angry mood after they pay their high gas bills for a few gallons of gas and head on to their voting site.
So when these angry voters who just paid high bills at the gas stations for a few gallons of gas enter their voting booths, they may show how angry and frustrated they are by voting against Obama.
Do people ever learn from past history?
They sure don’t.
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