August 31, 2005

Possible Gas Shortages

Me and my big mouth. Gas hit $3.30 in places around Milwaukee. $3.50-3.75 isn't out of the question. Now, gas stations fear shortages. The problem is state law that says stations can only changes prices once in a 24-hour period. If that price is below the point where supply equals demand then we will have shortages. This law is an instance of putting emotion and "fairness" (whatever that means) before economic logic.

"$3.50 Gas Could Be Next"