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re: Price gouging in a temporary supply crunch like the Colonial situation should be allowed
Posted on 5/13/21 at 12:52 pm to Ross
Posted on 5/13/21 at 12:52 pm to Ross
quote:
By allowing prices to rise, hoarders will think twice which allows for more people to get gas
If there was any basis of truth in this statement, there would not be price gouging rules in place
We have very recent experience where the utility companies acted as the hoarders by raising rates, and people were SOL during the ice storm. Or the gas stations became the hoarder following a hurricane, and travelers were SOL if they couldnt pay up. And now sawmills are the hoarders, and home builders are SOL until they decide to turn the mills back on
3
Posted on 5/13/21 at 1:04 pm to RobbBobb
buddy those rising prices prevent shortages
There is historical evidence out the arse and to the moon and back that price controls lead to shortages and food deserts
There is historical evidence out the arse and to the moon and back that price controls lead to shortages and food deserts
Posted on 5/13/21 at 4:45 pm to RobbBobb
quote:
We have very recent experience where the utility companies acted as the hoarders by raising rates, and people were SOL during the ice storm. Or the gas stations became the hoarder following a hurricane, and travelers were SOL if they couldnt pay up. And now sawmills are the hoarders, and home builders are SOL until they decide to turn the mills back on
In each of these situations if the supplier is sitting on their stock because people or not purchasing due to price they are not making money an will be forced to lower price. The market will always reach equilibrium between supply, demand, and determine the correct price for goods.
Posted on 5/13/21 at 4:49 pm to RobbBobb
quote:
We have very recent experience where the utility companies acted as the hoarders by raising rates, and people were SOL during the ice storm.
You're going to have to provide some sort of basis for this statement. Which utilities were doing this?
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