Re: [Amc-list] Days of Whine & Roses

[Frank Swygert <farna@xxxxxxx>]

Of course we can't execute or prosecute someone for making a killer profit. Nationalizing the refineries would be unconstitutional (confiscating private property) as well, and I don't think the government is the best entity to run them. Both prosecuting and nationalization are not realistic -- any congressman who thinks so is an idiot and has no idea about how a refinery or the economy in a free country works. 

What WOULD work, however, is price regulation. The government (or rather a government body/committee) would have to approve price in creases, or more realistically with fluctuating prices, a formula for setting prices. Basically this would be saying "you can make only x amount of profit". It's been done before, and some states do the same. 

Electricity is cheaper in South Carolina than anywhere else I've lived. Part of the reason is that the state itself owns or co-owns a good portion of the generating plants, and prices are regulated. Most people by electricity from regional co-ops. The co-ops can't raise prices without asking the regulatory commission first, and they have to have good reason. In the past they have sometimes raised the cost when the increase is submitted rather than waiting, but then credit customers if the requested increase is turned down or reduced. My electricity cost was roughly twice what I pay now when I was in Delaware, and at least 25% cheaper than anywhere else I've lived (Idaho, Georgia, Mississippi, Delaware, and SC... not using Japan in the comparison, utilities were high there!).

-------------
Date: Thu, 19 Jun 2008 01:18:59 -0400
From: Brien Tourville <hh7x@xxxxxxxxxxxxx>

*Congressman Maurice Hinchey [D-NY] serves the District I live in
here in New York.
*
Rep. Maurice Hinchey (D-NY), member of the House Appropriations 
Committee and one of the most-ardent opponents of off-shore drilling

We (the government) should own the refineries. Then we can control how 
much gets out into the market.

-- 
Frank Swygert
Publisher, "American Motors Cars" 
Magazine (AMC)
For all AMC enthusiasts
http://farna.home.att.net/AMC.html
(free download available!)

_______________________________________________
Amc-list mailing list
Amc-list@xxxxxxxxxxxx
http://splatter.wps.com/cgi-bin/mailman/listinfo/amc-list