OMT One Man's Trash...from Norman Leahy

Friday, March 31, 2006 :::

Hawaii Abandons Gas Price Caps

Via Andrew, I see that Hawaii is about to give up on gasoline price controls.

The gas cap, aimed at reining in Hawaii's highest-in-the-nation gas prices, set a maximum wholesale price for gasoline linked to a five-day moving average of spot prices in New York, Los Angeles, and on the Gulf Coast. As it happened, the cap went into effect three days after Hurricane Katrina tore through the Gulf, sending gas prices on the mainland sharply higher. The state-set caps quickly shot up and so did gas prices. They have remained at similar levels since, with the average gallon of gas in the state going for about $2.90,according to recent AAA surveys.

Though some legislators still believe that with a bit more tinkering, caps can work.

And indeed they keeping prices even higher.

::: posted by Norman Leahy at 3/31/2006 0 comments


"You know what the fellow said: In Italy for 30 years under the Borgias they had warfare, terror, murder and bloodshed, but they also produced Michelangelo, Leonardo da Vinci and the Renaissance. In Switzerland they had brotherly love -- they had 500 years of democracy and peace, and what did that produce? The cuckoo clock." -- Orson Welles, The Third Man

"The graveyards are full of indespensable men" -- Charles de Gaulle

"Oh, so Mother Nature needs a favor? Well maybe she should have thought of that when she was besetting us with droughts and floods and poison monkeys. Nature started the fight for survival and now she wants to quit because she's losing. Well I say, hard cheese!" -- Montgomery Burns

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