FTC Discovers Price Gouging!

[Phaedrus]

Wow! The FTC has uncovered 15 incidents of price gouging at the pump in the wake of Katrina. At least, as long as you are willing to define "price gouging" as "any finding that the average price of gasoline in designated disaster areas in September 2005 was higher than in August 2005."

Meanwhile, sort of off to the side, the same investigation failed to turn up any evidence of market manipulation by oil companies (back to the drawing board, guys.)


Phaedrus

 

[BASEHEAD]

No, theres no inventory manipulation going on Im sure.

 

[levistep]

You can trace just about everything that is bad back to FDR, Wilson or LBJ. Here is a simple graph that explains the situation. No need for a $100 million dollar investigation into something that doesn't exist. Supply moved from S1 to S2 and intersected D at p2 (higher prices and less supply).

 

[JinnRikki]

Well bygod that explains everything! Where do I send my check to the Exxon Mobile charity, those poor folks, how do they manage.
The world can be such a cruel place.
It's tough being an Oil Pimp.

 

[levistep]

Well bygod that explains everything! Where do I send my check to the Exxon Mobile charity, those poor folks, how do they manage.
The world can be such a cruel place.
It's tough being an Oil Pimp.

Jinn getting a few rounds in at the gym.

 

[eek.]

Great stuff Levi.
The best laff I've had for a while.

Have you got the same scriptwriter as Pat or have you guys recently purchased a supa sized bag of #1 ganja skunk ?
(Being superintelligent can be a bit of a curse sometimes)

You can trace just about everything that is bad back to FDR, Wilson or LBJ. Here is a simple graph that explains the situation. No need for a $100 million dollar investigation into something that doesn't exist. Supply moved from S1 to S2 and intersected D at p2 (higher prices and less supply).

 

[JinnRikki]

Jinn getting a few rounds in at the gym.

And you would be the one with the stick up it's ass right.

 

[levistep]

And you would be the one with the stick up it's ass right.

No, it's the strawman you built. You don't know anything about economics and supply and demand, so all you were able to do was twist my words. I never said you should feel sorry for the oil companies. Gas prices had to go up because there was a massive decrease in supply (the supply curve shifted to the left). When the supply curve shifts to the left, it intersects demand at a higher price level.

 

[JinnRikki]

No, it's the strawman you built. You don't know anything about economics and supply and demand, so all you were able to do was twist my words. I never said you should feel sorry for the oil companies. Gas prices had to go up because there was a massive decrease in supply (the supply curve shifted to the left). When the supply curve shifts to the left, it intersects demand at a higher price level.

Yes, quite correct I know little about economics but I know the sight and smell of bullshit when I see and smell it. Oil Pimp.