Reason Magazine
- reason.com
- reason.tv
- reason.org
- Donate
- Site Search:
Reason on Facebook
Reason on Twitter
Reason on YouTube
Reason RSSGet Reason E-mail Updates!
Manage your Reason e-mail list subscriptionsadvertisements
Take That, Filthy Gas Station Owners!
Good news, everybody - the House has voted to ban "gas gouging!" Here's the gist of the bill just passed:
Federal Price Gouging Prevention Act - Makes it unlawful for any person to sell crude oil, gasoline, natural gas, or petroleum distillates at a price that: (1) is unconscionably excessive; or (2) indicates the seller is taking unfair advantage unusual market conditions or the circumstances of an emergency to increase prices unreasonably.
Declares unlawful: (1) intentional reporting of false price information concerning wholesale prices of such products; and (2) market manipulation regarding the purchase or sale at wholesale of such products.
Empowers the Federal Trade Commission (FTC) and State Attorneys General to enforce this Act.
Sets forth civil and criminal penalties for violations of this Act.
Requires fines and penalties collected under this Act to be deposited in a separate fund in the treasury to be known as the Consumer Relief Trust Fund to provide assistance under the Low Income Home Energy Assistance Program (LIHEAP) administered by the Secretary of Health and Human Services.
A new trust fund run by HHS? Nothing but blue skies ahead. (Bush has said he'll veto the bill, sadly.)
UCrawford|5.23.07 @ 2:05PM|#
Now Bush can have something worthwhile to veto. Assuming of course that he actually supports capitalism, which is a suspect assumption.
Bhh|5.23.07 @ 2:10PM|#
Veto a slush fund that could get funneled to cronies? I don't think so. Maybe buying that car the size of a storage barn wasn't the hottest idea america.
|5.23.07 @ 2:19PM|#
Passing legislation to keep gas prices artificially low is in direct conflict with the supposed goal of reducing gasoline consumption.
|5.23.07 @ 2:19PM|#
Ever notice how the politicians rail against price gouging but
never consumer gouging? Here's an old joke that sums it up
nicely.
Customer: How much for gas?
Merchant: $3.50 a gallon.
Customer: $3.50!? The station across the street sells it for
$2.75
Merchant: Why don't you buy it over there then?
Customer: They're sold out.
Merchant: Tell you what. Come around this evening after I sell out,
and I'll drop my price to $1.00
|5.23.07 @ 2:20PM|#
Since the Senate have always been big proponents of price gouging, favoring it even above stomping on flower beds, I don't see this bill reaching the President's desk.
ashamed|5.23.07 @ 2:25PM|#
It is so sad to see that two of my state's representatives (both D's) cosponsored this bill.
|5.23.07 @ 2:31PM|#
So, who gets to define "unconscionably"?
The same people who get to define "unfair business practices".
Christopher Monnier|5.23.07 @ 2:32PM|#
> Passing legislation to keep gas prices artificially low
is in direct conflict with the supposed goal of reducing gasoline
consumption.
Well, it's not alright if oil companies charge a significant
premium for gas. But it is alright if the government (via increased
gas taxes) does. 'Cause the government is doing it for good reasons
(to fight global warming), while oil companies would only ever
raise prices to line the pockets of their money-hungry
executives.
|5.23.07 @ 2:34PM|#
All of 'em are old enough to remember gas lines too.
"...indicates the seller is taking unfair advantage unusual
market conditions..."
...and they just can't be that ignorant--surely they know what
they're doing is dumb.
The only people with a right to complain are the people who didn't
vote--I "get" that more and more all the time.
Barakku|5.23.07 @ 2:36PM|#
I'm not sure the point of this bill. Aren't the oil companies
the "evil" ones? This seems to target the gas stations, and to my
recolection, it hasn't been the indivdual stations saying that gas
is going up because of terrorists (or hurricanes, or shortanges, or
fun, or profits).
And I agree with Lamar--this seems to contradict the whole
"car-free roads" idea that democrats seem to be moving toward with
so much other legislation.
|5.23.07 @ 2:41PM|#
The only people with a right to complain are the people who
didn't vote--I "get" that more and more all the time.
I am even more restrictive: The only people who don't get
to complain are the people who voted for the winners.
Urkobold®|5.23.07 @ 2:50PM|#
MIKEP,
THE URKOBOLD IS EVEN MORE RESTRICTIVE--THE ONLY PEOPLE WHO GET TO
COMPLAIN ARE THOSE PEOPLE WHO ACTUAL ARE THE WINNERS.
|5.23.07 @ 2:50PM|#
It is said that a Roman emperor, in order to curb massive
inflation (...of his doing by cheapening money with lesser metals)
threatened death to any merchant who raised his prices....needless
to say it didn't work and poor merchants lost their lives because
of the emperor's economic illiteracy.
Almost 2000 years later, with the added benefit of learning the
real truth about prices (and economic laws in general) from great
thinkers and our "noble leaders" still haven't learned a damn
thing.
Dave W.|5.23.07 @ 2:53PM|#
Oil Industry Lobbyist: How is that Gas Gouging Prevention Bill
going?
Bill's Sponsor: Not so good, people are saying it is unfair to the
oil industry.
Lobbyist: Excellent.
Sponsor: I don't get it, why did you give me a bill that screws
your client.
Lobbyist: First of all, it probably won't pass.
Sponsor: Yeah, but it'll be a disaster if it does.
Lobbyist: Second, if passed it is sufficiently vague to be
enforced. It is worded like The Sherman Act. Do you think that oil
companies worry about that these days? Even Rockefeller made out
better after he was busted than before, but, really, enforcement is
not a concern.
Sponsor: Okay, no harm, but still . . .
Lobbyist: Third, and best of all, now you can say that you are
doing something. In draft we were calling this the Angry Consumer
Pacification Window-Dressing Act, but . . .
Sponsor: but what?
Lobbyist: that young hotshot at the corportarian site, whathisname,
the Sheen guy, cautioned that his readers can be pretty darn
astute.
Sponsor: I like the new name better anyway.
Grotius|5.23.07 @ 2:54PM|#
OT blogging suggestion:
Maybe y'all ought to comment on the
Pope's remarks.
I did here.
|5.23.07 @ 2:55PM|#
Diocletian. He imposed strict controls, including price fixing and making professions and trades hereditary.
Rhywun|5.23.07 @ 2:58PM|#
this seems to contradict the whole "car-free roads" idea
that democrats seem to be moving toward with so much other
legislation
Or, more accurately, it demonstrates that placating voters who
whine about the price of gas is more important than principle.
|5.23.07 @ 3:00PM|#
Second, if passed it is sufficiently vague to be enforced.
It is worded like The Sherman Act.
That is one of the more damning things you can say about a bill.
When passed, no one thought the vague provisions of the Sherman Act
could or would be used. It turns out they were used,
extremely deleteriously, as a stick to keep big companies toeing
the government line. Wonderful...
Grotius|5.23.07 @ 3:05PM|#
Pro Libertate,
A number of historians argue that the increasing regulation of the
Roman Empire lead to its downfall. I don't find it a compelling
explanation by itself, but it probably went some way in weakening
the economic vitality of the Empire (particularly its less advanced
western regions).
|5.23.07 @ 3:09PM|#
increasing regulation of the Roman Empire lead to its
downfall
led, dammit, led! It you're going to be pedantic,
at least spell correctly!
|5.23.07 @ 3:20PM|#
And I agree with Lamar--this seems to contradict the whole
"car-free roads" idea that democrats seem to be moving toward with
so much other legislation.
Modern liberalism is inconsistent?
Weird.
|5.23.07 @ 3:21PM|#
I think Diocletian's draconian controls--which didn't disappear after his death--contributed considerably to the decline of the Empire. Though, of course, there were other factors as well, and the Eastern Empire managed to hang on for another millennium. Sort of.
|5.23.07 @ 3:21PM|#
As someone pointed out, the populist idea of keeping gas low clashes with the environmentalist/autarky idea of artificially raising the price of gas. Since Americans seem to believe that Amendment 26 of the Constutition requires that gasoline be under $3/gallon, I think anti-warming advocates will NEVER get anywhere gere.
Grotius|5.23.07 @ 3:24PM|#
Pro Libertate,
Well, from the 1st century BCE onward the Roman state was
increasingly involved in regulating the Roman economy. I always
think of Diocletion's "reforms" as being part of that
progression.
|5.23.07 @ 3:27PM|#
As someone pointed out, the populist idea of keeping gas low
clashes with the environmentalist/autarky idea of artificially
raising the price of gas.
Actually if your goal is to control people they work very well and
in concert. Make people feel guilty about doing something
desireable while making it easier for them to do it. After you get
them feeling suffiently guilty they'll agree to all sorts of things
they normally wouldn't. It's a pretty common tactic among religons
as well.
|5.23.07 @ 3:38PM|#
"Good news, everybody"
Weigel-
Great intro. For making me smile, I award you an ASCII happy
face:
☺
|5.23.07 @ 4:08PM|#
Is there some law that requires refiners to sell gasoline in the U.S. if they can get more money for it elsewhere? Penna. Governor Rendell seems to think he can structure an extra tax on gasoline profits and not have them passed on to the consumer. If I was a refiner, I'd simply sell more gasoline into other states until the last unit sold brought no more net than it would in Penna.
|5.23.07 @ 4:12PM|#
Sam B | May 23, 2007, 4:02pm | #
Socialism or death!
You misspelled "and".
Funniest stuff I've seen all day.
Mike Laursen|5.23.07 @ 4:18PM|#
Darn! When I saw the title of the post, I thought that Congress was passing a law requiring all gas station restrooms to be clean. That would be a worthwhile law.
thoreau|5.23.07 @ 4:20PM|#
We've all heard this joke before, but it bears repeating.
Four gas station owners are sitting in a jail cell. The first one
says "I charged more than the guy down the street so they get me
for gouging."
The second one says "At least you got some money before they busted
you. I charged less than the guy down the street and they got me
for predatory pricing."
The third one points to the fourth and says "Yeah, well, we both
charged the exact same price so they got us for collusion."
Dave W.|5.23.07 @ 4:22PM|#
Person One: Want to hear a joke?
Person Two: Four gas station owners are sitting in a jail cell for
anti-competition crimes.
Person One: And?
Person Two: Did I tell it wrong?
|5.23.07 @ 4:25PM|#
I think one too many a legislator got that "Boycott Exxon for a
Day" emails.
Dave W,
HAHAHAHAHAHAHA!
|5.23.07 @ 4:32PM|#
It is said that a Roman emperor, in order to curb massive inflation (...of his doing by cheapening money with lesser metals) threatened death to any merchant who raised his prices....needless to say it didn't work and poor merchants lost their lives because of the emperor's economic illiteracy.
Looks like Robert Mugabe was a student of Classical history:
Zimbabwe
jail over bread prices.
Dave W.|5.23.07 @ 4:32PM|#
arrrrgh, I can't even tell jokes correctly when I use "preview." Oh, well.
|5.23.07 @ 4:35PM|#
Point well taken but it needs a punchline. Let me attempt:
Five gas station owners are sitting in a jail cell. The first one
says \"I charged more than the guy down the street so they get me
for gouging.\"
The second one says \"At least you got some money before they
busted you. I charged less than the guy down the street and they
got me for predatory pricing.\"
The third one points to the fourth and says \"Yeah, well, we both
charged the exact same price so they got us for collusion.\"
Then they all turn to the fith one and ask: \"How about you?\"
\"Oh, I molest children.\"
Ta da!
|5.23.07 @ 4:38PM|#
arrrrgh, I can't even tell jokes correctly when I use
"preview." Oh, well.
I thought it was funny. What did you mean to do?
Stephen Macklin|5.23.07 @ 4:47PM|#
I think I'm going to buy stock in tylenol. If Bush vetoes this the cognitive dissonance of agreeing with him is going cause some massive headaches at Hit and Run.
Grotius|5.23.07 @ 4:47PM|#
Pro Libertate,
Anyway, it was all the fault of the Gracchi brothers. ;)
Economics wasn't the strong point of the ancients. The classic
example of why that is so was a proposal in Athens in the 5th
century BCE to hand out to all Athenians a certain amount gold from
Athens' gold mines in Thrace and up on I think Euboea. Inflation
anyone?
|5.23.07 @ 5:03PM|#
Actually, depending on my mood, I do blame the Gracchi.
In the sense that it was they who got the Senate to sanction and
actually use violence to quell the Gracchi's actions. Not to
mention that the Gracchi brothers both demonstrated the power of
direct appeals to populism, which was the beginning of the end for
the Republic (not that ignoring the plebs was a good thing,
either).
If the U.S. Senate ever gets up as a body and kills someone with
whom they disagree. . .well, let's just say that's bad, m'kay?
|5.23.07 @ 5:32PM|#
come on David...is it really that hard for you to like what bush
is doing that you have to post a satiric parody?
Here i will show you how it is done...
"I am David...I hate most of what Bush does...but I like that he is
Vetoing this stupid bill."
See, not hard at all.
|5.23.07 @ 5:40PM|#
Lobbyist: Second, if passed it is sufficiently vague to be
enforced. It is worded like The Sherman Act. Do you think that oil
companies worry about that these days?
Jesus H fucking Christ...what fucking dimension do you live
in?!?!
The Sherman act is sufficiently vague all right...vague enough to
effect every non-black market transaction or business communication
in this fucking country.
|5.23.07 @ 5:43PM|#
Doesn't the URKOBOLD then eat the winners?
No...on the contrary, the winners eat URKOBOLD's semen.
|5.23.07 @ 5:45PM|#
Four gas station owners are sitting in a jail cell. The first
one says "I got busted for coke."
The second one says "I was fudging credit card payments."
The third one points to the fourth and says "I'm going to bugger
him the second he goes to sleep."
|5.23.07 @ 5:50PM|#
☺
To me it look like the smallest bit after shooting up all the big
bits in Asteroids.
The coin arcade version not the Atari home console version.
|5.23.07 @ 6:10PM|#
joshua,
If you are using Firefox (I don't know if IE works the same way)
hit control-plus twice and it'll finally look like a smiley face. I
find :) to be easier, myself.
|5.23.07 @ 7:00PM|#
Was do you sehen now?
I have like 5 posts in shotgun order...what one do you want an
explanation to?
|5.23.07 @ 7:00PM|#
The opening line to the article -- "Good news, everybody" -- would have been funnier if "comrades" had been spelled correctly.
h-dawg|5.23.07 @ 7:02PM|#
Missed the proximity on the thread...what "I sehen now" looked like the finger, which is how I always saw the hammer and sickle when drunk.
h-dawg|5.23.07 @ 7:03PM|#
So, what's the penalty for oil companies conspiring to reduce prices in the Fall?
|5.23.07 @ 8:36PM|#
Hammer and sickle. . .is correct! You are the winner, comrade!
You have won brand new Soviet car, which will come off assembly
line for you in 31 years.
Congratulations!
|5.24.07 @ 9:14AM|#
Stevo,
I always wonder who can see what. In IE 5, some of the characters
don't show up--hence the wee little boxes. I don't have IE 6 at
work, so I can't comment on it. In Firefox, as far as I can tell,
everything shows up. Not sure about Opera, etc.
A while back, I posted a chess
game, just for laughs. It probably looks different in different
browsers--oh, well.
☯
|5.24.07 @ 10:39AM|#
why attack as station owners instead of big time security and future traders like Lehman and Bear and Sterns who makes tons of money trading energy futures? Those hard working gas station owners hardly make few cents per gallon and face uncertain prices as much as commoners do.
Site comments/questions:
Media Inquiries and Reprint Permissions:
(310) 367-6109
Editorial & Production Offices:
3415 S. Sepulveda Blvd.
Suite 400
Los Angeles, CA 90034
(310) 391-2245