The party of Nader?
By Aussiegirl
It's so tempting to bash those oil companies, but it's worthwhile to look at what happens when you do. Nixon blundered badly when he instituted wage and price controls, and we all ended up standing in line for gas. You can't legislate the law of supply and demand out of existence.
Jerry Taylor on Oil on National Review Online
It’s unclear whether the Senate Commerce and Energy Committees' joint hearing Wednesday on oil prices and profits is an exercise in economic ignorance or cynical opportunism. It is clear, however, that the Republican party is in the midst of an intellectual meltdown. For whatever reason, the Party of Reagan now sees merit in cross-dressing as the Party of Nader. But they are playing with political and economic fire, and the resulting conflagration might well torch the very energy economy they are ostensibly trying to save.
Let’s begin with a review of what happened the last time Congress tried to protect consumers from “Big Oil.” When Richard Nixon enacted his strict retail price-control regime in 1971, service stations ran out of gas and motorists were forced to wait in staggeringly long lines to get what fuel remained.
posted by Aussiegirl @ 10:25 PM
3 Comments:
Of course we all hate and hated paying high prices for gasoline -- but we did it.
I have for three decades urged a switch to alcohol fuel, but as usual no one listened, including me. I still drive with petroleum fuel.
So whose fault was it we had those high prices? Our own.
Prices are set by the laws of supply and demand.
Laws of politicians lead to lower supply and even higher prices. As Aussiegirl noted.
Still, gripe about fuel prices all you want, but consider this: Whom would you prefer to have all that money, oil companies or a bunch of slimy politicians spending it like drunken Democrats?
By the way, prices have dropped about 70 cents a gallon in my vicinity.
It's disgusting to see our pols (even Republicans) go on like good Communists, demanding a redistribution of profits. At least Bush is demanding that they plow some of those profits into refineries. On another subject, I'm going to post some information on Gold's theory of the abiotic sources of oil -- i.e. oil is not the result of dead dinosaurs -- and all the dinosaurs in the world didn't migrate to Saudi Arabia in order to die only there, the earth produces it on a constant basis from deep in the earth. Gold was a brilliant scientist (he died not so long ago) who had some revolutionary (and rather unorthodox ideas ) something that always appeals the the anarchist in me :-)
Aus, why do you say "even Republicans" when you express disgust that politicians "go on like good Communists ..."
Don't you know there was a reason the Republican-voting states were colored red?
As to the anarchist in you, well, it ought to be given freer rein.
The anarchist in you -- and in everybody -- is the best part.
Smash the state!
And when we do, oil prices will go down even further.
Up the Rebels!
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