Tuesday, August 30, 2005

Gas Prices

I just filled up my Camry. I spent over $40. Until this summer I had never spent over $30...

When I bought gas tonight it cost me $2.79 a gallon. Wow...

It will be interesting to see what happens to gas prices over the next few months. I think they are going to go up to $3 or $3.25 in the next couple of days.

I think gas is going to cost around $2.50 - $3 a gallon for the near future... It will be interesting to see how poeple react to that price.

I would think that it will cut down on people's disposable income. I would think this would drag down the economy somewhat.

5 comments:

zack said...

Gas is expensive, but a lot of that cost is completely unnecessary and caused by government, as well as insane environmental groups.

I don't have a problem with an oil company charging whatever they wish, it's their product and their effort that produced it. No one has a right to their product, so no one has the right to demand a "fair" gas price.

Any "problem" with gas prices/oil production will be worked out by the mraket, as long as the government keeps their fat fingers out of it.

Good reference articles by Thomas Sowell and Walter Williams:
http://www.capmag.com/article.asp?ID=4376

http://www.capmag.com/article.asp?ID=4381

http://www.capmag.com/article.asp?ID=4384

LP Mike Sylvester said...

I 100% agree with you Zack.

If the government wanted to lower gas prices they could remove all gas taxes.

If the government wanted to lower gas prices they could just streamline the environmental regulations in this country.

Mike Kole said...

Right on, Zach. What we need is expanded refining capacity in the United States. Due to the restrictive laws, we have not opened a new refinery in over 25 years. Think we've added demand in that time?

Sometimes it takes disaster to reveal bad policy. Katrina makes it clear that we need to open more refineries, even if it means we need to also deal with more pollution.

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