Re: Rita and panic gas buying

[Jonathan Glass <jonathan.glass () oit gatech edu>]

Rob, grandpa of Ryan, Trevor, Devon & Hannah wrote:
> Date sent:              Thu, 22 Sep 2005 20:43:50 +0200
> From:                   Gadi Evron <ge () linuxbox org>
>
> > Actually, some would say this is good for Global Economy. The US is fat 
> > on oil with rather low prices (that you bitch about anyway). US and 
> > China are the two biggest consumers of oil in the world and both should 
> > probably curve their enthusiasm. At the US by getting gas prices higher.
> >
> > This will get me flames, but it's what every analyst out there would 
> > agree on. 
>
>
> I agree that you'll probably get some flames, but you're right.
>
> I find it highly ironic that those on the "right" side of the socio-political spectrum 
> are always lauding the "invisible hand of the market"--until they get hit in the 
> pocketbook.  North American farmers tend to be a fairly independent, 
> "government hands off" group--until you talk about ending farm subsidies.  Not to 
> knock people involved in farming: they are hardworking and generally very able.  
> And lots of other groups do exactly the same thing.  Everybody seems to have a 
> blind spot to the factors that (sometimes unfairly) support them.
>
> Canadian oil prices are somewhat above those in the US (despite the fact that we 
> *export* oil to the US!), but still relatively low compared to the rest of the world. 
>  People around here have been screaming at the recent increases.  I have to drive 
> more than most, but I'd still be willing to get gas prices to realistic world levels 
> here.  (Might get some of the *%^*&^ SUVs off the road.)

I'm on the right side of the socio-political system, and feel 
whole-heartedly that we need the government to be more laissez-faire in 
dealing with the markets.  If some gas station owner wants to charge 
$6.00/gallon for the cheap stuff (happened in my neighborhood in south 
Atlanta after Katrina) that's fine.  He's only punishing himself because 
the self-interested consumers will go wherever is cheaper. 
Interestingly, there was a 'panic' egged on by media hype, and that 
caused many to rush the gas stations...and that encouraged the Governor 
to enact price-controls...which in turn led to stations running out of 
gas.  If the price goes higher, people will change their behavior, and 
many did.

When the prices hit that high after Katrina, I drove more slowly on the 
commute, and drove my wife's car when my car was low on gas.  I waited a 
week and ended up paying about $2.99 a gallon for the cheap stuff.

My parents live in a small lake community, and most of their stations 
ran out of gas, and didn't get restocked for 3 or 4 days...but those 
residents also panicked.  My father filled up his trucks, his boats, his 
cars, and all the gas cans he had, because he feared a shortage. 
Unfortunately, so did all his neighbors and they CAUSED a shortage.

A little common-sense and an understanding of the market economy would 
go a long way.  Unfortunately, US government schools have no interest in 
teaching that information, because it would make the citizens 
less-dependent, and that would lead to less demand for government 
intervention and services.

Y'all have a nice day, and I'm praying that those in Texas get out alive.

Jonathan Glass
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