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  • WSJ: What a Gas! (But Hawaii Isn't Laughing) - Will price caps knock the state economy down?

    08/25/2005 6:15:41 AM PDT · by OESY · 31 replies · 1,029+ views
    Wall Street Journal ^ | August 25, 2005 | MALIA ZIMMERMAN
    ...Charged with the unenviable job of implementing the gas-cap program, Hawaii's Public Utilities Commission says local industry expects the caps to increase prices by an estimated 30 cents a gallon, with costs on Oahu rising from the current price of $2.68 a gallon to more than $3.... So why bring back price controls more than 30 years after Nixon tried them and failed miserably, causing shortages, rationing, inflation and an economic crisis? It's hard to find a reason, other than to retaliate against the big oil companies, namely Chevron, which many Democrats tried to punish unsuccessfully in court. Made up...