It's past time

valhalla360 wrote:

JRscooby wrote:
Have you ever read a history book? The last time there was a major war in Europe gas, and many other things where rationed.
Your Venezuelan baker boat don't compare. The price of bread limited at a price too low for profit. I want to hold profit at record high, until the end of war. If that breaks a oil company, they're dead now.
My limited info is imports from Russia amounts to less than 10% of supply. I have know doubt that those of us that just pull in fill up, witch about the total, could reduce our use by at least that much. That would reduce demand/price increase for the people that always just put enough in tank to get back and forth to work. But the last 2+ years have proven a large percentage of population will not change behavior to save others lives.

Yes, a bit of a history buff. As horrible as the current situation is, it's no where close to WWII. It may go there eventually but there is absolutely no comparison with the current situation. During WWII price was not a primary concern in regards to rationing and we are no where close to rationing being a reasonable solution.

I agree, we are not, or should not, be close to rationing. And I agree a limit on profits is generally not a good idea. But in the past laws have been passed, written for a set length of time. A short term, war time legislation could work.
As far as that goes, just a few months back, when pump prices where rising at the same time crude prices was falling, President suggested there might be a reason for investigation, (First president to speak of investigating oil co sense T Roosevelt) Next day, stations where lowering prices. Even just introducing bill in both chambers, starting the discussion would very likely slow, if not reverse the rise in prices. (I confess I would love to hear Mr Block Even Good Law convince us high gas price is a good thing)

The problem with the govt setting profits is who decides what is a reasonable profit (or even a generous profit whatever that is supposed to be)...just because you think it's record profits doesn't mean it really is when looking at the big picture (R&D, Exploration, Risk, etc...). I wouldn't trust the politicians to decide as they are likely to use it as a tool to buy votes rather than determine a reasonable price.

First, I'm not saying record profits. I'm quoting the oil companies reporting record profits. I'm sure R&D, exploration, risk etc. was already included.

If you don't like the Venezuelan comparison, it's similar to the politicians screaming about gouging after a hurricane.
- If the govt mandates prices stay constant, the first people to the store buy more water than they really need, leaving none for the rest. Since there isn't much profit, there's no incentive for companies to get more water into the area quickly.
- On the other hand, if private business is able to sell at say $20/case, people will limit purchases to what they really need, allowing others access to the current supply. Also, it may be extremely profitable for a grocery chain to load up trucks with bottled water and get it in as soon as the road is clear.

If the first person gets to the store, buys more than needs there is none left on the shelf this is bad. But if the first person gets to store, the shelf is full, but he does not have a spare 3 hour of pay for it, still not good. Of course, if after things get back to normal, consumers vote with their $, the store that had the water would not be able to pay their rent.