OT - Gas to hit 4.00

Shane Hathaway shane at hathawaymix.org
Wed Aug 31 17:25:25 MDT 2005


Andy Bradford wrote:
> Thus said Shane Hathaway on Wed, 31 Aug 2005 14:56:54 MDT:
> 
> 
>>Jonathan Ellis wrote:
>>
>>>Demanding the  government intervene and try  to accomplish something
>>>the free market is inherently better at (setting prices) is tempting
>>>but foolish.
>>
>>Agreed. The government can take steps to smooth rough times like this,
>>but it has relatively little power to control the free market.
> 
> 
> The government should never take steps  to ``smooth rought times'' as it
> only has  the power to  make things  worse. The New  Deal is one  of the
> greatest example of governmental bungling America has ever seen. Let the
> market set the prices, that is what it is good at as Jonathan suggests.

I did not suggest new legislation or price fixing.  I suggested the 
government should react by:

- advising consumers not to panic

- looking for ways to raise the capacity of other refineries for a short 
time

- taking steps to restore refineries in short order

These kinds of reactions require a level of agility that the free market 
does not have.

Shane



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