News, House approves stiff gas-gouging penalties. Bill would ban 'excessive' prices; White House threatens veto. (gas prices, gallon)
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WASHINGTON - The House, eager to do something about record high gasoline prices in advance of the Memorial Day weekend, voted narrowly Wednesday to approve stiff penalties for those found guilty of gasoline price gouging.
The bill directs the Federal Trade Commission and Justice Department to go after oil companies, traders or retail operators if they take “unfair advantage” or charge “unconscionably excessive” prices for gasoline and other fuels.
WASHINGTON - The House, eager to [I]make the appearence of doing[/i] something about record high gasoline prices in advance of the Memorial Day weekend, pandered to the uninformed masses when they voted narrowly Wednesday to approve stiff penalties for those found guilty of gasoline price gouging,although "gouging is not specifically defined in the bill.
We've had increased petrol prices and gouging, two different issues. After and during Katrina, the Governor of Georgia put his foot down on gouging (petrol was over $4.00 then a gallon in many places in GA), and stations literally closed that received their supply from several refineries. I was in NC and couldn't go West or East because of the severe shortage of petrol and was forced to return North (so this is first-hand experience).
If gouging is at the core of the bill it is not pandering but appropriate.
Quote:
Originally Posted by JBrown
Let me help you with the wording....
WASHINGTON - The House, eager to [I]make the appearence of doing[/i] something about record high gasoline prices in advance of the Memorial Day weekend, pandered to the uninformed masses when they voted narrowly Wednesday to approve stiff penalties for those found guilty of gasoline price gouging,although "gouging is not specifically defined in the bill.
Sounds like meaningless "feel good" legistlature. How do you define price-gouging? I have no sympathy for true price gougers (usually a local occurance as a result of a set of circumstances - shortages, natural disasters, periods of increased demand), but there are already local laws in place right? I don't define price gouging as a national average market rate of $3 a gallon, but as local issue such as one station open in an area after a hurricane that wants to raise prices to $10 a gallon to take advantage of him being the only station managing to get a supply of gas in the area.
Of course it is a "feel good" issue, but who is feeling good?
Quote:
Originally Posted by Dd7I4
Sounds like meaningless "feel good" legistlature. How do you define price-gouging? I have no sympathy for true price gougers (usually a local occurance as a result of a set of circumstances - shortages, natural disasters, periods of increased demand), but there are already local laws in place right? I don't define price gouging as a national average market rate of $3 a gallon, but as local issue such as one station open in an area after a hurricane that wants to raise prices to $10 a gallon to take advantage of him being the only station managing to get a supply of gas in the area.
I'm not a fan of high gas prices either, but I think it's ridiculous for a free, capitalist country like ourselves to penalize a company for it's profits.
Show actual price gouging and we have a different matter.
Very interesting table. Do you have any idea how it was compiled?
Certainly, the pharmaceutical industry makes a huge profit but electronics above oil did make me take a second and third look at the comparisons.
Quote:
Originally Posted by Sporin
I'm not a fan of high gas prices either, but I think it's ridiculous for a free, capitalist country like ourselves to penalize a company for it's profits.
Show actual price gouging and we have a different matter.
Very interesting table. Do you have any idea how it was compiled?
Certainly, the pharmaceutical industry makes a huge profit but electronics above oil did make me take a second and third look at the comparisons.
See the bottom... "Sources: American Petroleum Institute"
I'm sure these figures are dead-on.................
....from 1997.
The bottom line is, our supply has not diminished, and our population has not doubled in the last 3 years. So why is it that prices have? Market manipulation, period.
The American public on the whole is starting to remind me of the idiot who dies first in the cheesy horror movies. "There's a human hand in the tub, that's strange. I'd better clean that up before I go to bed"
The good news is they wont have to go far to find out where the gouging is taking place! http://www.taxfoundation.org/news/show/1139.html (broken link)
See the bottom... "Sources: American Petroleum Institute"
I'm sure these figures are dead-on.................
....from 1997.
The bottom line is, our supply has not diminished, and our population has not doubled in the last 3 years. So why is it that prices have? Market manipulation, period.
The American public on the whole is starting to remind me of the idiot who dies first in the cheesy horror movies. "There's a human hand in the tub, that's strange. I'd better clean that up before I go to bed"
~T
it's not all about "us" anymore. China and India are going through population explosions and industrial revolutions that are almost unimaginable. THAT is where the demand has exploded. Every drop we in the US don't use is sold to other countries. China isn't quibbling about pump prices.
It's a big new world.
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