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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Karen Lawrence who wrote (36312)	8/7/2002 2:17:46 PM
From: LindyBill	Read Replies (2) \| Respond to of 281500

Your simply saying something doesn't make it so. OK, Karen, since you won't let go, I will do this one more time. Your original post said that the gas lines were due to oil shortages. I responded that the gas lines were due to the Government fixing prices when the supply was cut. The point is that the shortage did not cause the lines, the price fixing did. You then responded that this was not true, and posted a lot of info about OPEC and gas lines that did not answer my point. Since you had got off the subject of what caused the gas lines, and on to the reason for the shortage, I figured this was a waste of time, and responded that we should drop the subject. You responded that you have proved your point. Karen, the oil shortage and the reason for the gas lines are two separate subjects. What I was pointing out was when OPEC cut down on the oil supply, if the Government had allowed the price of gas to be run by supply and demand, there would have been no lines.

To: Karen Lawrence who wrote (36312)	8/9/2002 1:21:35 AM
From: D. Long	Read Replies (1) \| Respond to of 281500

Karen, It is a case of simple economics. If you limit the price a good can be sold at, then supply will not meet demand. You will have shortages. If there had not been a price cap, prices would have risen freely and the market would have been self-regulating as fewer people bought gas at the market price. It's hard to find a cite for the effects of the 70's caps, since the subject has been eclipsed obviously by a mountain of articles on the California power crunch. But here's a little something on the matter: geoffmetcalf.com