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Fight Price Gouging

LOL, via Phil Miller:

Please join me in support for poor, beleaguered gas station owners, the victims of unconscionable price gouging by ruthless consumers who are taking advantage of market conditions to reduce their demand for gasoline, driving down the price by nearly $2 per gallon over the last four months. Fortunately, governments are swinging into action. Georgia governor Sonny Perdue issued this statement: “The financial crisis has disrupted the consumption of gasoline, which will have an effect on prices. However, we expect the prices that Georgian gasoline station owners receive at the pump to be in line with changes in consumers’ incomes and the prices of substitutes and complements. We will not tolerate consumers taking advantage of Georgian business owners during a time of emergency.”

Posted on November 26, 2008 at 08:08 AM | Permalink

Comments

"And guess what this liberal would be all about? This liberal would be all about socializing... would be all about... taking over, and the goverment running all of your companies."

--Congresswoman Maxine Waters

Posted by: Dew_N_O | Nov 26, 2008 12:52:02 PM

I think you need to read the text of the actual article more closely or change your post to make it clear that it is satire. The link will get you to the actual quote.

“However, we expect the prices that Georgians pay at the pump to be in line with the prices retailers are paying. We will not tolerate retailers taking advantage of Georgians during a time of emergency.”

The quote is from a press release back in September.

Posted by: Bryan | Nov 26, 2008 3:51:27 PM

Evil demand-siders:
-- TABLE-World oil demand falls for first time in a generation --
LONDON, Nov 26 (Reuters) - Global oil demand is expected
to decline in 2008 and 2009 for the first time in a generation,
as the most severe economic crisis since the 1930s slashes
consumption across the developed world, and puts the brakes on
emerging market growth. [LQ285707]
Global Demand Forecasts
(In millions of barrels per day)
2007 2008 2009 08vs07 09vs08
UBS Total 86.00 85.90 85.60 -0.10 -0.30
OECD 49.20 47.60 46.50 -1.60 -1.10
Non OECD 36.80 38.30 39.10 1.50 0.80

Societe Generale 86.1 86.2 86.5 0.10 0.30
OECD 49.2 47.9 47.2 -1.30 -0.70
Non OECD 36.9 38.3 39.3 1.40 1.00

Barcap Total 86.1 86.2 86.3 0.11 0.11
OECD 49.1 47.8 47.0 -1.31 -0.84
Non OECD 37.0 38.4 39.4 1.42 0.95

IEA Total 86.1 86.2 86.5 0.12 0.35
OECD 49.2 47.8 47.1 -1.35 -0.75
Non OECD 36.9 38.4 39.5 1.47 1.11

EIA Total 85.81 85.89 85.93 0.08 0.04
OECD 49.14 47.79 46.93 -1.35 -0.86
Non OECD 36.67 38.10 39.00 1.43 0.90

Deutsche Bank 86.0 86.05 85.55 0.05 -0.5
OECD 49.2 47.72 46.74 -1.48 -0.98
Non OECD 36.9 38.30 38.81 0.7 0.51

Newedge 86.07 85.78 85.81 -0.29 0.03
OECD 49.18 47.66 46.94 -1.52 -0.72
Non OECD 36.89 38.12 38.87 1.23 0.75

OPEC Total 85.9 86.2 86.7 0.29 0.49
OECD 49.2 48 47.4 -1.17 -0.59
Non OECD 36.7 38.2 39.3 1.46 1.08

ESAI Total 86.30 85.90 86.30 -0.40 0.40
OECD 49.50 47.90 47.50 -1.60 -0.40
Non OECD 36.80 38.00 38.80 1.20 0.80

Merrill Lynch 86.1 86.15 85.75 0.05 -0.40
OECD 49.2 47.85 46.73 -1.33 -1.12
Non OECD 36.7 38.3 39.04 1.6 0.74

Bernstein 86.1 85.9 85.3 -0.26 -0.70
OECD 49.2 47.8 46.5 -1.3 -1.37
Non OECD 36.9 38.1 38.77 1.2 0.60

Average Total -0.02 -0.02
OECD -1.39 -0.86
Non OECD 1.33 0.84

Posted by: Mesa Econoguy | Nov 26, 2008 8:35:39 PM

Oh come on all of you.

Nobody has a hot clue where prices or demand are heading.

A few months ago all of the worthies who now predict demand declines were predicting the reverse.

Me, I predict high demand in my household on this week-end for pizza and adult beverages. You can take that to the bank.

Posted by: BlacquesJacquesShellacques | Nov 26, 2008 8:58:48 PM

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Posted by: sdf | Nov 27, 2008 8:58:07 PM

I came for the witty commentary, I laughed at the WoW power-leveling spam.

What's with the Executive Order. How can any price not accurately display "normal" supply and demand. If I set my gas prices to $10 per gallon, the only people that will by it are those that really, really, really need it. I'm signaling that the supply side of the equation has very high uncertainty.

Posted by: Xmas | Nov 28, 2008 5:03:46 AM

Where was the governor, his pen and his executive orders when it was the oil companies and gas station owners doing all of the gouging. Payback is rough, ain't it?

Posted by: | Dec 8, 2008 12:29:54 PM

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