Friday, June 27, 2008

If It Sounds Too Good To Be True...Gas Price Edition

Well, maybe. I'm not sure what to make of this article from MarketWatch. Gas prices falling to $2 a gallon within 30 days of Congress passing legislation to regulate oil speculators? I'm just not convinced that would happen. First off, Congress has never successfully regulated anything that result in lower prices. Then you are talking about a commodity that we don't have much control over SINCE WE REFUSE TO DRILL FOR OIL THAT WE ALREADY OWN!!! Third, how do you control oil speculators that trade on a global market? I'm concerned that this sort of legislation would actually cause shortages ala the Carter years.

But then, I'm not sure. I really don't know what to think.

That's a first!

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