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(The Hill)   House passes gas anti-price gouging bill. In related story, it was apparently OK for gas stations to price gouge before this   (thehill.com) divider line
    More: Interesting, Petroleum, Frank Pallone, Blame, Federal Trade Commission, Democrats' bill, Praise, Democracy, Economic shortage  
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650 clicks; posted to Politics » on 19 May 2022 at 2:57 PM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2022-05-19 1:06:22 PM  
Always has been

/ locally about ten years ago they set an"price cap" which was much higher than the going rate of gas to insure the local refineries were not price gouging us. Overnight everyone's price rose to be just under that cap.

This went on for several months until people got disgusted and got rid of the cap, which is what the refineries wanted.

Yes price gouging is going on, the regulators need to be careful how they handle this because the gas industry is well organized and will make a mockery of poorly designed regulations.
 
2022-05-19 1:09:57 PM  
Well, at $10/gal people will be screaming for nationalizing the oil companies... so, yeah. Good times.
 
2022-05-19 1:53:27 PM  
Gasoline is the new healthcare.
 
2022-05-19 2:34:11 PM  
Do you want shortages? That's one way to get shortages.
 
2022-05-19 2:39:14 PM  

wildcardjack: Do you want shortages? That's one way to get shortages.


Demand for gasoline is inelastic.
 
2022-05-19 2:59:06 PM  
Isn't the price of gas already incredibly arbitrary? Isn't it just the whims of basically a cartel?

Yeah, this legislation is overdue.
 
2022-05-19 2:59:25 PM  

NewportBarGuy: Well, at $10/gal people will be screaming for nationalizing the oil companies... so, yeah. Good times.


That should happen anyway.
 
2022-05-19 3:00:58 PM  
Hey, how did that 'Do Not Call List' and 'Lower the Volume On TV Commercials' legislation turn out?
 
2022-05-19 3:01:23 PM  
Can't wait for Coalfinger to kill it in the Senate.
 
2022-05-19 3:01:47 PM  
House passes gas

who smelt it dealt it
 
2022-05-19 3:03:37 PM  

bluejeansonfire: Isn't the price of gas already incredibly arbitrary? Isn't it just the whims of basically a cartel?

Yeah, this legislation is overdue.


Gasoline is traded on the futures market. People bet the price will go up. There used to be radio ads , and they stated that one needed to be able to commit $500k to even think about trading. Oil is also a future.
Refineries often close for maintenance , and whoopsie- we just didnt remember to fill the tank farms up !

It really is time for a windfall profit tax , and not just on petroleum products .
 
2022-05-19 3:04:06 PM  
Fark user imageView Full Size
 
2022-05-19 3:05:57 PM  
On 9/11 everyone was afraid of gas running out so there were lines for blocks at every gas station. Some stations doubled their prices right away. The next day, our Governor passed emergency gouging laws requiring every station that did that to refund the difference and pay a healthy fine.

Gas supply was always good. IIRC the refineries shut down for something like 24 hours just in case there was going to be some other kind of attack on them, which did not materialize.
 
2022-05-19 3:06:01 PM  
where has subby been since Reagan was President?
 
2022-05-19 3:06:03 PM  

Weatherkiss: Can't wait for Coalfinger to kill it in the Senate.


Pretty much this.
 
2022-05-19 3:06:08 PM  

Weatherkiss: Can't wait for Coalfinger to kill it in the Senate.


LOL like they'd let one obstructionist asshole control everything.
 
2022-05-19 3:07:31 PM  
On the face of it, this is a stupid plan.
 
2022-05-19 3:08:08 PM  

born_yesterday: Weatherkiss: Can't wait for Coalfinger to kill it in the Senate.

LOL like they'd let one obstructionist asshole control everything.


And who is supposed to replace that one obstructionist asshole?
 
2022-05-19 3:08:24 PM  

Gin Buddy: [Fark user image 850x742]


Every damn time I think of insulin and people having to ration so they can try ( and sometimes fail , sadly ) and make it through the month I just want to set certain people on fire. people with multiple estates who havwe more money than they could ever spend.
And I am not even a diabetic.
 
2022-05-19 3:08:27 PM  

Communist Middleschool Student: On the face of it, this is a stupid plan.


Compelling argument!
 
2022-05-19 3:09:12 PM  
Congress needs to put a limit on cigarette taxes so that we can achieve Total Freedom during these trying times.

And how come the libs get $7500 off of an electric car, but I don't get dick for my Land Rover even though I'm the one getting crushed at the gas pumps?
 
2022-05-19 3:10:20 PM  
Everyone loves the free market until they're on the wrong side of it.
 
2022-05-19 3:10:38 PM  

alienated: Gin Buddy: [Fark user image 850x742]

Every damn time I think of insulin and people having to ration so they can try ( and sometimes fail , sadly ) and make it through the month I just want to set certain people on fire. people with multiple estates who havwe more money than they could ever spend.
And I am not even a diabetic.



It's nice how Republicans don't consider this to be "rationing" health care. It's just a free market kind of thing.
 
2022-05-19 3:12:25 PM  

Communist Middleschool Student: On the face of it, this is a stupid plan.


I agree, but credit where credit is due -- at least they're trying, even though it's probably performative.
 
2022-05-19 3:12:58 PM  
The legislation, from Schrier and Rep. Katie Porter(D-Calif.), would outlaw the selling of fuel at an "excessive" price during an energy emergency, though it does not detail any particular price threshold.

Nothing unconstitutionally vague about that at all, nosiree.

They know it won't pass and this is a performance, not something real.
 
2022-05-19 3:15:28 PM  
I am going to add one more thing. It costs about $30 per barrel to have oil ready to refine on established wells , and its about $50 for new ones up to a year out. Think about that when you hear "energy independence" as the US exports something it should be keeping for its own use , and look at the world market price.
 
2022-05-19 3:19:26 PM  
If someone tells very loudly in your direction that we should be eliminating or cutting the gas tax to help pump prices, ask them what's stopping gasoline companies from raising their prices to fill that vacuum.
 
2022-05-19 3:20:06 PM  

jjorsett: The legislation, from Schrier and Rep. Katie Porter(D-Calif.), would outlaw the selling of fuel at an "excessive" price during an energy emergency, though it does not detail any particular price threshold.

Nothing unconstitutionally vague about that at all, nosiree.

They know it won't pass and this is a performance, not something real.


And what have republicans done other than blindly blame biden?  nothing?   too busy banning abortions?
 
2022-05-19 3:21:41 PM  
Not gonna lie, I read only the first three words of the headline and laughed.
 
2022-05-19 3:23:15 PM  
This is messaging.

There is no hope of enacting this, but the Democrats just want to get it on record that Republicans voted against it.

Same with the baby formula vote.

I have little hope it will do any good, but it is what it is.
 
2022-05-19 3:28:33 PM  
If you actually look at their statements their margins are in line with previous years. They are not gouging you. The Dems have an election problem. That's all this is.
 
2022-05-19 3:29:57 PM  

AsparagusFTW: If you actually look at their statements their margins are in line with previous years. They are not gouging you. The Dems have an election problem. That's all this is.


Faaaaaart
 
2022-05-19 3:45:38 PM  
Gas station price increases = price gouging.

Refineries and oil companies making record breaking profits = free market.

The important thing is that they are SEEN to be doing something.
 
2022-05-19 3:49:46 PM  
This doesn't help with the method that oil/gas companies gouge. They make their money on the volatility of oil in that they instantly raise prices on a rise, but slowly drop when the oil prices drop so when the oil goes back up they made more profit and raise the price back to in line with the price of oil. This coupled with the subsidies and tax breaks means record profits for all and no "legal price gouging"

It would be more better to set a tighter timeframe for dropping prices with regards to oil prices and phase out the subsidies.
 
2022-05-19 3:54:07 PM  

Lord_Baull: Communist Middleschool Student: On the face of it, this is a stupid plan.

Compelling argument!


If I tried to explain why, I'd get nothing but oil companies are evil. And trying to explain something like this to people who probably can't solve a five step math problem is a waste of time.

If the farkline is as simple as it says then this is a dumb plan. But I haven't read the article so I don't know.
 
2022-05-19 4:10:06 PM  

jjorsett: The legislation, from Schrier and Rep. Katie Porter(D-Calif.), would outlaw the selling of fuel at an "excessive" price during an energy emergency, though it does not detail any particular price threshold.

Nothing unconstitutionally vague about that at all, nosiree.

They know it won't pass and this is a performance, not something real.


Well I've seen Republican performance art, and it's designed to marginalize and hurt people.  So your BSAB is an epic fail that makes the Complete works of Shakespeare seem small by comparison.
 
2022-05-19 4:12:05 PM  
"gas stations" are gouging you.

Fark user imageView Full Size
 
2022-05-19 4:39:21 PM  

Communist Middleschool Student: Lord_Baull: Communist Middleschool Student: On the face of it, this is a stupid plan.

Compelling argument!

If I tried to explain why, I'd get nothing but oil companies are evil. And trying to explain something like this to people who probably can't solve a five step math problem is a waste of time.

If the farkline is as simple as it says then this is a dumb plan. But I haven't read the article so I don't know.


Thank you for gracing us with your presence, oh all knowing one. Us plebes grovel at your feet.
 
2022-05-19 4:57:44 PM  

pancakeface: Communist Middleschool Student: Lord_Baull: Communist Middleschool Student: On the face of it, this is a stupid plan.

Compelling argument!

If I tried to explain why, I'd get nothing but oil companies are evil. And trying to explain something like this to people who probably can't solve a five step math problem is a waste of time.

If the farkline is as simple as it says then this is a dumb plan. But I haven't read the article so I don't know.

Thank you for gracing us with your presence, oh all knowing one. Us plebes grovel at your feet.



I got a whole "if you don't know, I'm not going to tell you" vibe from his response.
 
2022-05-19 5:04:36 PM  

Communist Middleschool Student: Lord_Baull: Communist Middleschool Student: On the face of it, this is a stupid plan.

Compelling argument!

If I tried to explain why, I'd get nothing but oil companies are evil. And trying to explain something like this to people who probably can't solve a five step math problem is a waste of time.

If the farkline is as simple as it says then this is a dumb plan. But I haven't read the article so I don't know.


I read the article and it's a dumb plan and a stupid bill.
 
2022-05-19 5:07:54 PM  
So this is like a thing dems could message on pretty hard, right? We have a solution and we're being obstructed?

Lets watch comms this week.
 
2022-05-19 5:17:51 PM  

Therion: "gas stations" are gouging you.

[Fark user image image 445x286]


Mom and pop gas stations? fark you Debbie.
 
2022-05-19 5:18:52 PM  

pancakeface: Communist Middleschool Student: Lord_Baull: Communist Middleschool Student: On the face of it, this is a stupid plan.

Compelling argument!

If I tried to explain why, I'd get nothing but oil companies are evil. And trying to explain something like this to people who probably can't solve a five step math problem is a waste of time.

If the farkline is as simple as it says then this is a dumb plan. But I haven't read the article so I don't know.

Thank you for gracing us with your presence, oh all knowing one. Us plebes grovel at your feet.


I'm an arrogant ass, I will admit.
 
2022-05-19 5:28:29 PM  
I hope the law isn't just telling everyone that gas will be affordable.
The Affordable Care Act shows you just how much that word can be off base.
 
2022-05-19 5:34:57 PM  

Epic Fap Session: Congress needs to put a limit on cigarette taxes so that we can achieve Total Freedom during these trying times.

And how come the libs get $7500 off of an electric car, but I don't get dick for my Land Rover even though I'm the one getting crushed at the gas pumps?


Stupid conservative is stupid then blames democrats for his/her stupidity.  Another day and a conservative whining about how mean everyone is to it.
 
2022-05-19 5:46:54 PM  

jjorsett: The legislation, from Schrier and Rep. Katie Porter(D-Calif.), would outlaw the selling of fuel at an "excessive" price during an energy emergency, though it does not detail any particular price threshold.

Nothing unconstitutionally vague about that at all, nosiree.

They know it won't pass and this is a performance, not something real.


What are republicans doing in this time of crisis? Screaming the Democrats did it is not solving a crisis.
 
2022-05-19 5:55:53 PM  

aleister_greynight: wildcardjack: Do you want shortages? That's one way to get shortages.

Demand for gasoline is inelastic.


Some demand is inelastic (e.g. people who need to drive to work in situations where there's no real alternative) but far from all.  People with access to transit can use it.  People who would be buying a new (at least to them) vehicle can choose a more efficient and/or electric one.  Some people can move closer to work and/or work from home more. Some people can carpool.   People can reduce unnecessary trips, choose closer destinations, drive less aggressively, etc.
 
2022-05-19 7:18:52 PM  

alienated: Gin Buddy: [Fark user image 850x742]

Every damn time I think of insulin and people having to ration so they can try ( and sometimes fail , sadly ) and make it through the month I just want to set certain people on fire. people with multiple estates who havwe more money than they could ever spend.
And I am not even a diabetic.


This. The bills do not even address diabetics without insurance, who are even less able to afford it.
 
2022-05-19 9:08:26 PM  

Epic Fap Session: $7500 off of an electric car


That whole thing was farked from the beginning. It should have been a fully-refundable tax credit that featured:
1. Caps on MSRP, and;
2. Caps on adjusted gross income to qualify.

If not fully-refundable, it should have been a credit able to be carried forward over 2-4 tax years so people could fully redeem the credit.
 
2022-05-19 9:09:34 PM  

jjorsett: The legislation, from Schrier and Rep. Katie Porter(D-Calif.), would outlaw the selling of fuel at an "excessive" price during an energy emergency, though it does not detail any particular price threshold.

Nothing unconstitutionally vague about that at all, nosiree.

They know it won't pass and this is a performance, not something real.


I wondered about that. What price level in the bill was defined as "gouging" and how did they determine that threshold?
 
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