Congressman Wants to Repeal Law of Supply & Demand
Representative Maurice Hinchey (D-N.Y.) says he is drafting legislation that will “roll back gasoline prices.” Under his proposal, the price would be capped at $2.49 per gallon. Recently, gasoline has been selling for around $4 per gallon.
“If we leave it to the market there’s no telling how high prices will go,” Hinchey complained. “My bill will make fuel affordable for the average driver.”
The congressman was unfazed by the fact that the cost of the crude oil needed to produce a gallon of gasoline is around $2.75. State and federal taxes add another 50 cents or so, for a total of around $3.25 before transportation, refining and marketing costs.
“There’s no way we could get fuel to the customer for the price Mr. Hinchey wants to legislate,” said ExxonMobile Senior Vice President J. Stephen Simon. “In effect, his bill will outlaw the supply of gasoline. It’ll be worse than the gas lines we saw during the Carter Administration.”
Hinchey dismissed Simon’s objections. “President Carter had the right idea,” Hinchey asserted. “He just wasn’t tough enough on these corporate vultures. My bill will impose severe penalties for non-compliance.”
Under Hinchey’s bill, vendors would be subject to one year in prison for each gallon sold above the $2.49 mandated price. “These corporate profiteers will come around once a million-year prison sentence is staring them in the face,” said Hinchey.
There wouldn't be any gas lines because there wouldn't be any gas to sell. None. America would come to a screeching halt.
How do total morons like this get elected, anyhow? Oh, wait a minute. They just reflect their constituents!