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I can't put it any better than this:
After all, if the oil companies could create $3 gas whenever they wanted, why would they do so for only a week? And why would they allow declines averaging a cent per day for the past 10 weeks?
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Great point. I've been banging that point for months. No one seems to want to listen. And if the previous prices were "okay" or "correct", what made them so?
Posted by: Christopher Meisenzahl | November 29, 2005 at 08:59 AM
Yes, and it's true. Certainly competition prevented the prices from rising before, and the gas companies didn't cause the hurricane.
However, people will come right back with the "They know that if it stayed at $3 people would start conserving, so they just raised it for a little while to make windfall profits and then let it fall again so that people would get lazy and not actually change their behavior" argument.
Posted by: John Thacker | November 30, 2005 at 03:23 PM