A South Carolina legislator has introduced a bill that would cap gas prices in South Carolina at whatever the average wholesale price is on June 1.
Democratic state Sen. Dick Elliott of North Myrtle Beach said the bill he introduced Wednesday is needed because gas prices are slowing the state's economic recovery, according to the local ABC news affiliate.
It appears the bill has only a minimal chance of passing, but the attempt by the Senator to get such legislation passed, provides further evidence about the mood in the country surrounding price inflation. Unfortunately, it is also an indication of the deep seated belief that price controls work and ignores the fact that they just cause shortages and supply disruptions.
As price inflation intensifies, expect more calls for price controls and possible across the board controls instituted by President Obama.
Obama should just say that all gas can be sold for no more than $1 a gallon. We would save so much money as a country. Price controls always work. Let's do it.
ReplyDeleteNo, let's just have the Government give us free gasoline! That always works! I need gas to get to work, therefore I have a right to it!
ReplyDeleteI think the govt should make a law that everyone must own an emissions free teleportation device. That way we wouldn't need gas.
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