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State bill could cap gas prices for weeks
Sacramento Bee ^ | 6/9/6 | Jim Sanders

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 ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events; US: California
KEYWORDS: abuseofpower; anticapitalism; energy; fascism; govwatch; shortages; socialism
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Rather than demonize oil companies, lawmakers ought to be pushing to fast-track refineries and increase oil supply,

BINGO

1 posted on 06/09/2006 8:03:22 AM PDT by SmithL
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To: SmithL
by allowing a temporary price cap in times of "abnormal market disruption."
Hummmm Seems like I remember this before from Carter.
Quick, someone send them a history book!
2 posted on 06/09/2006 8:06:08 AM PDT by GrandEagle
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To: SmithL

But I thought they banned gas guzzlers in Kalifornia. Oh well, that will be next.


3 posted on 06/09/2006 8:06:49 AM PDT by Stayingawayfromthedarkside
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To: SmithL

How about "price caps" on the amount of taxes government can rob from you...


4 posted on 06/09/2006 8:07:29 AM PDT by 2banana (My common ground with terrorists - They want to die for Islam, and we want to kill them.)
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To: SmithL
Let me guess...
Lockyer is a Nobel Prize winning economist, while Nunez holds a PhD in economics and is extensively published.
5 posted on 06/09/2006 8:07:37 AM PDT by Frohickey
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To: SmithL
Rather than demonize oil companies, lawmakers ought to be pushing to fast-track refineries and increase oil supply

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

6 posted on 06/09/2006 8:07:57 AM PDT by Irontank (Let them revere nothing but religion, morality and liberty -- John Adams)
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To: SmithL

What about the windfall taxes collected thru our state sales taxes.


7 posted on 06/09/2006 8:08:32 AM PDT by umgud (FR, NASCAR & 24, way too much butt time)
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To: GrandEagle

Government set prices are Marxist in nature.


8 posted on 06/09/2006 8:08:48 AM PDT by Protagoras ("A real decision is measured by the fact that you have taken a new action"... Tony Robbins)
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To: SmithL

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.


9 posted on 06/09/2006 8:09:54 AM PDT by Rodm (Seest thou a man diligent in his business? He shall stand before kings)
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To: SmithL
These people are so stupid it hurts to think that they actually have power of elective office.

Hey Morons: PRICE CONTROLS ALWAYS LEAD TO SHORTAGES!!

And Lockyer wants to be state treasurer...
10 posted on 06/09/2006 8:09:56 AM PDT by rottndog (WOOF!!!!--Keep your "compassion" away from my wallet!)
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To: SmithL

Didn't the peanut farmer try this in the seventies?


11 posted on 06/09/2006 8:11:36 AM PDT by kellynla (Freedom of speech makes it easier to spot the idiots! Semper Fi!)
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To: umgud

What about the windfall taxes collected thru our state sales taxes.
-----
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.


12 posted on 06/09/2006 8:13:05 AM PDT by EagleUSA
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To: Rodm

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.


13 posted on 06/09/2006 8:13:22 AM PDT by WRhodesTider
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To: SmithL

It will no doubt pass in both the Assembly and Senate, the only hope is that Arnie, the socialist, will veto it.


14 posted on 06/09/2006 8:13:47 AM PDT by dalereed
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To: kellynla
Didn't the peanut farmer try this in the seventies?
Yes he did, and the results will be the same. No gas at any price in Kaliforina.
15 posted on 06/09/2006 8:14:28 AM PDT by GrandEagle
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To: SmithL
They need a few more refineries and to get rid of those idiotic blends. Bush needs to sign an executive order mandating no blends until the gas crisis is over. Their blends drive everyone's price up because they use up refinery space.

But a cap? Cool, let them do it. Apparently they've forgotten about gas lines. They need to be reminded of what doesn't work.
16 posted on 06/09/2006 8:15:23 AM PDT by mysterio
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To: kellynla

Both Jimmuh Peanut and the ass Nixon were in love with price controls.


17 posted on 06/09/2006 8:18:02 AM PDT by SAJ (x)
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To: GrandEagle
Quick, someone send them a history book!

Won't make any difference for they see themselves as the new and improved politicians for whom historical precedents do not apply.

18 posted on 06/09/2006 8:18:23 AM PDT by tertiary01 (Obsessive Compulsive Thread Nannyism. I hope I don't catch it.)
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Comment #19 Removed by Moderator

To: SmithL

Price Caps worked so well for Hawaii last year...

< /sarcasm>


20 posted on 06/09/2006 8:21:03 AM PDT by thackney (life is fragile, handle with prayer)
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