California lawmaker wants state to regulate petroleum industry (D-Joe Dunn)

ap on Bakersfield Californian ^ | 9/1/05 | Beth Fouhy - ap

[NRA1995]

They haven't learned yet....

[OldFriend]

Forgot the energy crisis already?

Are all the dems on mind altering drugs or hoping the sane among us are short on memory?

[DoughtyOne]

Regulating will cause shortages. It's that simple.

Keep our prices down, and the refineries will send product out of state where they can charge what the market will bear.

[Tax-chick]

Oh, that will help a lot. They'll be so popular with California's freeway commuters!

[flashbunny]

I need to think of some product that can be sold to californians waiting in gas lines...

[atomicpossum]

Criticizing oil industry profits, a California lawmaker has introduced legislation to give a state agency broad authority to regulate the cost of fuel.

No. He's regulating the PRICE of fuel. He's not doing a damn thing about the cost of producing it, only the PRICE at which it's sold.

[squirt-gun]

Dunn is Dumb.

[michaelbfree]

Sen. Joe Dunn, D-Garden Grove

is an idiot. I'm sure he would vote to restore nuclear energy to California or permit offshore drilling - NOT! Another fool that doesn't seem to understand the simple economics of supply and demand...so go ahead Joe, you stupid twat, set ceilings on profits for oil companies and watch how much gas California gets at all in the future...dumbass!!

[socal_parrot]

Joe Dunn has never met a business he hasn't wanted to regulate.


Socialist dimwit. The growing conservative asian population in Garden Grove will hopefully send this man his walking papers next election.

[My2Cents]

Dimwit is right. But most Californians will probably lap up this swill.

[Pearls Before Swine]

They haven't learned yet....

First they make life miserable for the power companies, so they stop building. Then they bankrupt the state trying to compensate by buying out of state power.

Now they want to chase out the energy companies. Maybe they think they can feed CA's oil jones by speculating in oil futures on the NYMEX.

[Beagle8U]

Does anything normal go on in the minds of these liberal twits?
I read articles like this and become more and more convinced, being a liberal isn't "progressive", its a mental illness!

[TheOracleAtLilac]

So what's the big problem ?

The legislature proved its worth already ! (in regulating electricity)

[jscd3]

He's regulating the PRICE of fuel. He's not doing a damn thing about the cost of producing it, only the PRICE at which it's sold.

First of all, it does not matter what end of the economic equation you try to regulate. Prioces are always, repeat always, a function of supply and demand.

Try to regulate the price, you hold it below market clearing levels and demand exceeds supply - a shortage.

Try to regulate "cost" - however defined - you end up with reduced supply, and higher prices.

To be honest, I hope these clowns in California get their way and MANDATE a gasoline price ceiling of $1.50 per gallon. Why? Because NO ONE will ship any gasoline to California - the increase in supply to the rest of the country will dramatically reduce everyone elses prices.

I say let theses socialist bastards be hoisted by their own petard.

[Phantom Lord]

How fast would Joe Dunn oppose the construction of a couple refinaries in California? Specifically in his district?

Thats what I thought.

[atomicpossum]

I'm aware of that. It's just that when they say 'control the cost,' they mean 'force someone else further up the line to pay.' If it were put in those terms, it would be easy to see that it's a sham and a fell-good measure and a recipe for disaster.

[steve8714]

broccabrellas!

[markman46]

I think Old Joe is termed out.

[weaponeer]

Hey, I think this is a great idea! A noble experiment. We can sit back and observe what State regulation does to the situation in California. Plus, with the inevitable shortages there, it will mean more for us!

Pass the popcorn.