You are driving across the desert; the temp is 110º F; Your car breaks down, so you walk to the nearest town, (just 4 miles away). First thing you want is cold water. But the store charges $50 a bottle. The store claims that it is a business, and they have a right to make a profit.
Is it price gouging?
NO????
Then why isn't it price gouging when the oil companies reap HUGE profits in times of crisis?
2006-07-19 10:59:52 · 11 answers · asked by Hickemtwiddle 4 in Politics & Government ➔ Law & Ethics
yes
2006-07-19 11:02:07 · answer #1 · answered by idontkno 7 · 1⤊ 0⤋
Your hypothetical is incomplete.
The story would be different if every store owner in that town had gotten together to determine that the price of a bottle of water was $50. That would be price gouging.
And that's precisely what the oil companies are doing to us. They have gotten together to fix prices. The prices are not based upon supply and demand since supply is heavily regulated by the oil companies to maximize profit. There is no true competition because each of the oil companies is colluding with the others to artificially control market prices.
2006-07-19 18:07:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, it IS price gouging. It is exactly what the oil companies are doing to us. Demand? Well, I would say in the hot desert,water would be a demand, and would fetch a high price. Of course gasoline is nit $50 a gallon. But water cost more than gas anyway. WOW A lot of STUPID twits here. When the coming depression hits us, they will be the ones who will suffer the most. Damn rich bas-turds.
stiff-greygo is probably the stupidest.
2006-07-19 18:55:18 · answer #3 · answered by Eye Mugly 2 · 0⤊ 0⤋
Last time I checked gas wasn't going for $50 a gallon. It is, at most, $3 a gallon. Deal with it or don't drive. Very simple. You are not forced to buy the water OR gas. You CHOOSE to drive your car and buy gas.
This is a capitalist society. Don't like it? Start your own oil company. Oh right, you can't because there are so many expenses involved.
2006-07-19 18:29:10 · answer #4 · answered by Goose&Tonic 6 · 0⤊ 0⤋
Because they are not gouging, and we are not in an energy crisis.
We have all the gasoline we need.
Gouging by definition, is jacking up the price of something in limited supply, when that supply is limited because of natural (or other) disaster.
3$ a gallon is still pretty cheap if you ever stop and think every they have to go through to get it. Why is no one complaining about the price of a gallon of milk?
2006-07-19 18:05:17 · answer #5 · answered by tm_tech32 4 · 0⤊ 0⤋
The oil companies create their own crisis and so are the electric companies and yes it is all gouging!!!!
2006-07-19 18:09:01 · answer #6 · answered by Carol H 5 · 0⤊ 0⤋
That business owner would still be a "price gouger" if the cost of delivering the bottle to the store is still the same as it was when the temperature was 60F.
2006-07-19 18:05:07 · answer #7 · answered by superrrmodel 4 · 0⤊ 0⤋
Because bleeding heart liberals like to whine.
Example: No drilling for oil offshores! No drilling for oil in Alaska! No drilling for shale inside the U.S. because it damages the landscape! No new nuclear power plants (despite the rest of the world activly making new ones)! No hurting the poor terrorists who disrupt the worlds petrol markets!
And now the new whine goes: We demand cheaper gas!
In short liberals are idiots who want to blame their problems on someone else aka "big business" in this case.
2006-07-19 18:07:48 · answer #8 · answered by kyle3om 2 · 0⤊ 1⤋
There's not enough information contained here to determine if it is price gouging or not.
2006-07-19 18:03:36 · answer #9 · answered by cyanne2ak 7 · 0⤊ 0⤋
Well the oil companies are having to pay more for the crude oil.
2006-07-19 21:58:23 · answer #10 · answered by CottonPatch 7 · 0⤊ 0⤋
yes, but I'd beat the store owner down and steal the water.
2006-07-19 18:03:07 · answer #11 · answered by YOU WILL BOW TO ME!!!!!!!!!!!!!! 4 · 0⤊ 0⤋