[DustyMoment]

Price controls are either mischievous or they are unnecessary.

Nixon orived beyond a shadow of a doubt that price controls are unnecessary. The market works best when it is unfettered by any form of price control.

If the controlled price is above the market price it has no effect.

Actually, it does. The oil company can make gazillions in profits that enrage the morons who don't comprehend the workings of a free market economy - which flies in the face of selling gas at a mandated price that is well above the cost of the crude oil.

[DustyMoment]

orived = proved

[Dan Evans]

Actually, it does. The oil company can make gazillions in profits that enrage the morons who don't comprehend the workings of a free market economy

Yes. I guess you mean price supports, which are the reverse of price controls. They are usually in effect at the wholesale level. Sugar, milk, corn have price supports.

Just as bad. If any industry were to do something like this on their own, they would go to jail.