Fuel Prices

[Mr 5 0]

Originally Posted by 82 GT

The price of gas is out of control. I bet it will break $5/gallon on the East coast within the next 3 weeks. The oil companys and politicians are loving every minute of it too. As the price of oil increases, they get richer which is the same reason why the federal goverment willNEVER step in an regulate oil prices. Why would they slit their own throats....

The government tried regulating prices for gas...it was called the 1973 gas shortage crisis. Price-setting by government doesn't work. The government could call for a moratorium on gas taxes but they never seem to think of doing so. Federal and state gas taxes in my state add close to 60 cents to every gallon of gas you pump into your tank. Eliminating at least some of them would be a boon for drivers but that will never happen. The oil companies certainly could do more but frankly, shortages will always drive up prices, no matter what the reason. Most gas shortages are 'spotty'...not everywhere, as only 10% of the gasoline supply has been seriously affected by Katrina. The politicians are not 'loving it' as, first, the less gas people buy, whether by choice or due to a shortage...the less taxes the state and federal government collects. Second; they are being pressured to 'do something' by statist-minded citizens and, unfortunately, they sometimes do. Then everyone suffers, as happened in 1973.

Drive offs at the pumps are going to increase dramatically, people will resort to siphoning fuel out of vehicals, crime will increase....It's going to get worse before it gets better...much worse! Ever see the movie MAD MAX?? Well, that's what it will eventually come to if something isn't done.

Yes, some jerks will panic and steal gas (some don't need an excuse) but let's remember that the U.S. still has 90% of it's oil/gas supply available. While distribution is a problem, which could cause 'spot' shortages, it will hardly be the apocalyptic scenario you portray. 'Something'; will be done...the piplines will be repaired, opened and gas will be in full supply again...and the price will drop. Not as much as it should, but it will come down. Mad Max remains a fictional character, as does the post-apocalypse world he lived in. For now, anyway.