[gtmo]

Originally Posted by 7 Wishes

It doesn't increase supply per se, just lowers demand so that there's more "available" supply.

But I think barring a true "gas glut" afterwards it probably would become permanent, perhaps another good reason to have some sort of "gouging" regulation even if it's a bit economically inefficient.

It can increase supply if it leads more gas stations to invest in back-up generators.

There are plenty of other industries where higher prices can lead to an increased supply. My classic example is surrounding January / February 2011 when we had insane amounts of snow. People NEEDED to get the snow off of their roofs. People were claiming that they were being ripped off by people who were charging large amounts of money to rake the snow off. My claim is that these people would not have gone out and did the work unless they were able to charge those amounts. The higher demand led to a higher price, which led to a higher supply.


For the record, I am 100% against ripping off the ederly, and I know that there are sleazy contractors out there who prey on them.

[Mike 75]

Originally Posted by JayCT

I have and it is crazy to think that price gouging is acceptable under any circumstances. This is a comment that only someone who has the money would make. Why should poor people be denied gas so the wealthy can drive around and run their generators freely? Jay

I see your point, but keeping the price down exacerbates the problem. Unless the price is allowed to rise with demand, there will continue to be lines and shortages. Increasing the price will also entice other sellers to enter the market, creating more supply.

To be honest, its hard to sympathize about gas lines when so many people have lost their houses and loved ones.

[El Scorcho]

Originally Posted by gtmo

It can increase supply if it leads more gas stations to invest in back-up generators.

There are plenty of other industries where higher prices can lead to an increased supply. My classic example is surrounding January / February 2011 when we had insane amounts of snow. People NEEDED to get the snow off of their roofs. People were claiming that they were being ripped off by people who were charging large amounts of money to rake the snow off. My claim is that these people would not have gone out and did the work unless they were able to charge those amounts. The higher demand led to a higher price, which led to a higher supply.


For the record, I am 100% against ripping off the ederly, and I know that there are sleazy contractors out there who prey on them.

It doesn't increase supply. It is either there or it isn't.

[RedJacket]

Originally Posted by Cambium

A New Yorker comes to CT and fills up 30 five-gallon Home Depot buckets with gasoline. Where's that border when you need it.

2 Charged in Gas Hoarding Case | NBC Connecticut

Getting rear ended on the way home would have sent this moron for the ride of his life. How stupid can people get?

Based on this story -- plenty stupid.

[Off-beat]

Pretty sad. Nice display of grace and character, New York.

[El Scorcho]

Originally Posted by 7 Wishes

There have been price rises.....we are the only part of the US where gas has not fallen in price the last 2 weeks.....

I'm not sure where you are, but here in the Farmington Valley and in Litchfield county, gasoline prices have steadily fallen over the last two weeks.

[7 Wishes]

Originally Posted by El Scorcho

I'm not sure where you are, but here in the Farmington Valley and in Litchfield county, gasoline prices have steadily fallen over the last two weeks.

I'm talking about metro NY....for the purpose of this forum it would be SW CT. mainly FFC, though I'm seeing falling prices there now too (i.e. even the Merritt Pkwy gas stations, usually overpriced for convenience, are equal to or less than stations on the NY side of the line right now).

BTW, I may have been wrong about my prediction regarding NYC/LI gas rationing and a "bubble up" to Westchester and even Fairfield......I noticed yesterday virtually no lines at any southern Westchester gas stations I passed by and at a station just over the Bronx line (where there is rationing), just 3 cars waiting for a pump. Let's hope it stays that way!