Fark understands economics
August 26, 2005
Fark.com, in addition to being one of the Web's most popular and entertaining sites now demonstates a good grasp of economics.
Hawaii caps price of gas at $2.86 per gallon. Hilarity to ensue next when gas suppliers inexplicably refuse to sell gas to Hawaii for less than it costs them to buy it from refineries.
(Actually, according to the article linked, $2.86 refers to the retail price of gasoline, which is not capped. But the wholesale price is, and the argument applies there.)