There's an ad spot airing right now which urges you to contact congress or face gas shortages like the 1970's. This law sounds bad right? What does it amount to? Stricter controls on the pricing of gasoline. As I have blogged about multiple times the petroleum companies are getting filthy rich while the rest of us are having to pay exorbitant prices for gasoline. They use varied excuses ranging everywhere from an imminent hurricane about to hit the shore (which never materialized), taxes (Yes, taxes have jumped sharply in a few days has been one of their excuses), changeover from winter to summer formula, and various others. The list goes on.
This latest ad makes the idea of price control, lower fuel tax and holding the petroleum industry accountable sound like a bad thing. This is an industry that keeps bringing in record profits. Don't listen to the ad, vote with your mind, not with your fears. This is also the industry that artificially adjusts supply, while demand remains virtually constant using a variety of excuses. Supply goes down, prices go up.
The petroleum industry is a cartel. For more examples of what a cartel can do for you, I suggest you visit your local jewlery store. Those shiny transparent things? They aren't so rare. Industrial diamonds are cheap, but the cartel would have you believe the diamond is a rare thing, and demand a high price. Not so, you see, they control the supply ...
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