Price controls
I've had this in the in box for a couple of days, but other more important issues came up. So if you have heard about it before, oh well.
Gas prices surged thirty cents a gallon here in the Cities today. There is talk (again) in DC about going after the "obscene" gas company profits. Yet when when one gas station owner in Wisconsin, tried to do a good deed by offering seniors and those who helped local kids sports, it was not those greedy oil companies who put their heavy jack boot in the throat of this business owner!
"A service station that offered discounted gas to senior citizens and people supporting youth sports has been ordered by the state to raise its prices.
Center City BP owner Raj Bhandari has been offering senior citizens a 2 cent per gallon price break and discount cards that let sports boosters pay 3 cents less per gallon.
But the state Department of Agriculture, Trade and Consumer Protection says those deals are too good: They violate Wisconsin's Unfair Sales Act, which requires stations to sell gas for about 9.2 percent more than the wholesale price."
So let me see if I have this right....government wants to go after oil companies for "excess profits" and yet they mandate a minimum price essentially insuring the gas companies have "excess profits".
So the next time someone tries to tell you how we should "seize" the excess profits of oil companies, do me a favor and remind them that the oil companies have a willing accomplice in state and federal government in the form of price controls.
Gas prices surged thirty cents a gallon here in the Cities today. There is talk (again) in DC about going after the "obscene" gas company profits. Yet when when one gas station owner in Wisconsin, tried to do a good deed by offering seniors and those who helped local kids sports, it was not those greedy oil companies who put their heavy jack boot in the throat of this business owner!
"A service station that offered discounted gas to senior citizens and people supporting youth sports has been ordered by the state to raise its prices.
Center City BP owner Raj Bhandari has been offering senior citizens a 2 cent per gallon price break and discount cards that let sports boosters pay 3 cents less per gallon.
But the state Department of Agriculture, Trade and Consumer Protection says those deals are too good: They violate Wisconsin's Unfair Sales Act, which requires stations to sell gas for about 9.2 percent more than the wholesale price."
So let me see if I have this right....government wants to go after oil companies for "excess profits" and yet they mandate a minimum price essentially insuring the gas companies have "excess profits".
So the next time someone tries to tell you how we should "seize" the excess profits of oil companies, do me a favor and remind them that the oil companies have a willing accomplice in state and federal government in the form of price controls.
Labels: Stupid Laws
2 Comments:
We'll think about it, right after the MN Legislature goes after itself for "excess taxes."
J. Ewing
By Anonymous, at 2:55 PM
And, it wasn't a guy named "John Smith" that they busted. The station owner is probably an immigrant who just got a lesson in political idiocy.
By skh.pcola, at 6:18 PM
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