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Yet another hurricane thread...


ChrisT

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gas prices going up again tongue.gif

 

 

 

 

edit: thought this was inneresting...

 

 

Governors Ask for Inquiry on Oil Prices

 

By THE NEW YORK TIMES

Published: September 21, 2005

CHICAGO, Sept. 20 - The governors of eight states sent a letter on Tuesday to President Bush and Congress calling for an investigation into profits made by oil companies after Hurricane Katrina and asking for legislation that would require the companies to refund to customers any profits deemed excess.

 

 

"When the wholesale price of gas went up by 60 cents almost overnight, oil companies were obviously using the most devastating natural disaster in our nation's history to reap a windfall at the expense of American consumers," said the letter, which was initiated by Gov. James E. Doyle of Wisconsin and was signed by governors from Illinois, Iowa, Michigan, Montana, New Mexico, Oregon and Washington.

 

"To price-gouge consumers under normal circumstances is dishonest enough," the letter stated, "but to make money off the severe misfortune of others is downright immoral."

 

The letter cited an analysis by Donald A. Nichols, an economics professor at the University of Wisconsin at Madison, who reported that gas prices surged disproportionately compared with crude oil price increases. The price markup from crude oil to gasoline has almost tripled since the hurricane, the report said.

 

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Katrina did shut down many refineries, which is why gas prices (and not oil prices) went up. There more than a little political opportunism in calling for price gouging investigations... though I'm sure that it's going on. I remember hearing about $6 gas in Atlanta.

 

If we repeal the gas tax, then the hurricane (and the terrorists) have won.

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My great-grandmother who lived in Marion, Illinois could never understand how my family could stand to live in San Diego, weren't we terrifed about earthquakes? It was tragic when at the age of 96, after recovering from a broken hip the year earlier, her apartment was lifted up by a tornado and dropped three blocks away, killing both her and one of her daughters. Same tornado demolished my grandparents house around them as they hid in a closet.

 

Doesn't matter where you live, there's always some catch, so you might as well live wherever makes you happiest.

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