Posted on 06/09/2006 8:03:20 AM PDT by SmithL
Frustrated by soaring gasoline prices, two of California's top elected officials proposed legislation Thursday designed to crack down on consumer gouging by allowing a temporary price cap in times of "abnormal market disruption."
Attorney General Bill Lockyer and Assembly Speaker Fabian Núñez jointly proposed the measure, Assembly Bill 457, in response to pump prices that have jumped by more than $1 per gallon since January.
"We need to make sure that California is not the victim of any type of market manipulation or Enron-type scheme to artificially inflate the price of gasoline at the pump," Núñez said.
California's average price for regular unleaded gasoline has jumped from $2.21 per gallon in early January to $3.27 per gallon this week.
"(It's) hurting our families, hurting our ability to take our children out on weekends, hurting businesses, and really threatening to derail California's economy," Núñez said.
John Kearney of the AARP applauded the bill.
"It costs me almost $40 every time I go fill my tank," he said. "I'm just getting to where I can't afford it."
But critics lambasted AB 457 as election-year grandstanding, with one claiming it could exacerbate the crisis and perhaps spark long lines at gasoline pumps.
"It's a publicity stunt," said Assemblyman Russ Bogh, R-Cherry Valley. "It will do nothing to solve the gas problem, because they're not addressing the real issues."
Rather than demonize oil companies, lawmakers ought to be pushing to fast-track refineries and increase oil supply, Bogh said.
(Excerpt) Read more at sacbee.com ...
BINGO
But I thought they banned gas guzzlers in Kalifornia. Oh well, that will be next.
How about "price caps" on the amount of taxes government can rob from you...
If governments were really interested in lower prices, they'd reduce or eliminate gas taxes (which far exceed oil company profits as a share of the price of every gallon of gas)
But in their perverse ignorance or deception, they, instead, propose to respond to higher gas prices by raising new taxes such as a "windfall tax" on oil companies
What about the windfall taxes collected thru our state sales taxes.
Government set prices are Marxist in nature.
Go ahead Calfornia Demo-idots. Cap Gasoline prices, then see the supply dry up and miles of cars lined up to get gas at a few stations with remaining supplies of fuel. These guys are dumber than a box of rocks.
Didn't the peanut farmer try this in the seventies?
What about the windfall taxes collected thru our state sales taxes.
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Oh, the socialists are eating those up and loving it. As usual. California is so overtaxed, it is almost as bad as New York now. Welcome to "Liberal-ville". Any talk of capping fuel prices is just pandering -- an election is coming. The fiscal damage done by the doubling of fuel costs, is still yet to be determined -- and of course, the ThugoRats will still prevent America from creating more of its own petroleum and nuclear energy -- any move toward energy independence.
Congress fiddles while America burns.
Exactly what I was thinking. Do they think that the oil companies and gas stations are under any obligation to sell gas? Maybe it will free up the supply for the rest of the country so that our gas will be cheaper.
It will no doubt pass in both the Assembly and Senate, the only hope is that Arnie, the socialist, will veto it.
Both Jimmuh Peanut and the ass Nixon were in love with price controls.
Won't make any difference for they see themselves as the new and improved politicians for whom historical precedents do not apply.
Price Caps worked so well for Hawaii last year...
< /sarcasm>
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