Posted on 09/12/2008 1:41:12 PM PDT by Old Sarge
LOUISVILLE, Ky. (AP) -- Kentucky's governor has signed an order declaring a state of emergency and invoking the state's anti-price gouging law as Hurricane Ike bears down on the Texas coast.
Gov. Steve Beshear signed the order on Friday, saying gas stations started raising fuel prices overnight before the storm made landfall.
Beshear signed the order at the request of Attorney General Jack Conway, who said in a letter released Friday that invoking the law now will help prevent predatory pricing.
(Excerpt) Read more at whas11.com ...
The price "ought" to be what the market will bear. You're on a slippery slope toward central planning the minute you tell a businessperson what they "should" charge for their product. Price freeze is simply a bad idea, every time. Always will create a shortage.
I am not sure I agree with this. I would not like to be in TX right now with an empty tank and willing to pay anything to get gas and "save my life", only to be told that there is no gas because KY has artificially lowered the price of gasoline.
It’s gone up 30 cent a gallon in the past 2 days here in Georgia...over $4 again.
Thank God you get it! Hold the fort! Going out for a couple hours!
How does that relate to anything in this thread?
How long has it been since a new refinery was built in the United States?
I’d say that a shortage of gas due to Hurricane Ike is now pounding nails into our coffins thanks to nutcase environmentalists like Al Gore and “Greens” in Congress.
I’ve got news: there is no such thing as price-gouging. Raising price always lowers demand, and sellers know it. When supply goes down, demand has to go down, otherwise the market doesn’t clear appropriately. What idiot lawmakers don’t uderstand is that high prices are there to help people. Without price as a rationing function, some people would fill up gallon jugs of gas to store in their garages, while others would go gas-hungry.
Price gouging profiteering in vital commodities (and the inherent trust that brings it, even if unstated) is tyrannical.
Whether it's gasoline or utilities or milk, or whatever the vital commodity may be, the government is just to step in, when actual oppression exists. Same with excessive profiteering in health care, BTW, in case you'd like to smoke that in your pipe. ;-`
Adam Smith just phoned me from heaven and he says he agrees. ;-`
Your post made no sense. Care to try again?
I agree!
Gas jumped 6-cents a gallon overnight, up here in southern Wisconsin.
Find the cheapest gas in your area:
Wrong.
If you need to get down the road, to get to work, you pay anyway.
If you have a heart attack, you go to the hospital, anyway.
Tell the Greenie-Weenies to just produce more ethanol to fix the gasoline shortage! LOL.
"Basic Economics" should be required reading for all U.S. Legislators (maybe the Constitution should be too).
Not to worry. If you haven’t evacuated yet, you ain’t gonna.
We already have laws in Texas that prevent overcharging during an emergency.
There will be shortages. Mn=any of these plant are closed or will be out of commission shortly.
Many of these could be affected by Hurricane Ike.
Texas
Baytown Refinery (ExxonMobil), Baytown 557,000 bbl/d (88,600 m³/d)
Big Spring Refinery (Alon USA), Big Spring 61,000 bbl/d (9,700 m³/d)
Beaumont Refinery (ExxonMobil), Beaumont 348,500 bbl/d (55,410 m³/d)
Borger Refinery (ConocoPhillips/EnCana), Borger 146,000 bbl/d (23,200 m³/d)
Corpus Christi Complex (Flint Hills Resources), Corpus Christi 288,000 bbl/d (45,800 m³/d)
Corpus Christi Refinery (Citgo), Corpus Christi 156,000 bbl/d (24,800 m³/d)
Corpus Christi West Refinery (Valero), Corpus Christi 142,000 bbl/d (22,600 m³/d)
Corpus Christi East Refinery (Valero), Corpus Christi 115,000 bbl/d (18,300 m³/d)
Deer Park Refinery (Shell Oil Company), Deer Park 333,700 bbl/d (53,050 m³/d)
El Paso Refinery (Western Refining), El Paso 120,000 bbl/d (19,000 m³/d)
Houston Refinery (Lyondell), Houston 270,200 bbl/d (42,960 m³/d)
Houston Refinery (Valero), Houston 83,000 bbl/d (13,200 m³/d)
McKee Refinery (Valero), Sunray 158,300 bbl/d (25,170 m³/d)
Pasadena Refinery (Petrobras), Pasadena 100,000 bbl/d (16,000 m³/d)
Port Arthur Refinery (Total), Port Arthur 233,500 bbl/d (37,120 m³/d)
Port Arthur Refinery (Motiva Enterprises), Port Arthur 285,000 bbl/d (45,300 m³/d)
Port Arthur Refinery (Valero), Port Arthur 325,000 bbl/d (51,700 m³/d)
Penreco (Calumet), Houston
San Antonio Refinery (Age Refining), San Antonio 10,300 bbl/d (1,640 m³/d)
Sweeny Refinery (ConocoPhillips), Sweeny 229,000 bbl/d (36,400 m³/d)
Texas City Refinery (BP), Texas City 437,000 bbl/d (69,500 m³/d)
Texas City Refinery (Marathon Petroleum Company), Texas City 72,000 bbl/d (11,400 m³/d)
Texas City Refinery (Valero), Texas City 210,000 bbl/d (33,000 m³/d)
Three Rivers Refinery (Valero), Three Rivers 90,000 bbl/d (14,000 m³/d)
Tyler Refinery (Delek Refining Ltd.), Tyler 55,000 bbl/d (8,700 m³/d)
Wrong.
(I'm talking about actual demand, not demand affected by supply.)
See post # 38
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