re: Price gouging in a temporary supply crunch like the Colonial situation should be allowed

quote:

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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

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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.