Is the Congress gouging us on gasoline prices?

Question

Last week 79 idiots in congress proposed a bill on price gouging for gasoline. As we know gouge means to take by force or extort something from you.

As far as I can see the price of gasoline is set by the market, if you do not like the price you do not have to buy it, and they will not sell any and therefore go out of business. It seems that we already have pretty low prices historically ($3 in the early 20's compared to $1.50 in the 90's using 2006 dollars) yet we are being gouged by taxes on fuel to the tune of about 34%.

If they want to write a law, how about one that prohibits them from extorting more money from us.

http://www.capmag.com/article.asp?ID=4929

You need to read to answer this question, look up the definition of gouging, the oil companies are not gouging they are offering a product at a competitive price, if you do not like the price you are not forced to buy it, unlike the taxes which you are forced to pay.

Answer 1

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Answer 2

The government has no business in getting involved with the price of gas. It will be determined by the free market. Gasoline is a luxury not a right. If you buy a machine ( in this case your car ) that runs on gasoline you are making yourself dependant on that product. If a company sells that product, they can charge whatever they want and good for them if they make a lot of money doing it. And if you don't like it, you don't have to buy it. No one is putting a gun to you head and orders you to "fill up".

The solution is simple really, if you don't like the way Oil companies do business, stop crying at "Daddy Government" and go drill your own oil and make your own gasoline or invent your own car that runs on something else.

Answer 3

My father was in the oil business in Texas for 30 years. In 1962, he stacked his rigs and got out. He told me..."I can not make a profit anymore. The Federal taxes on small American producers are outrageous." Our government is now under the control of 2 oil men. They have investments in the Middle East. They have no concern for the small drillers in the US who could be supplying much of our oil and gas. Our country is being run by greedy people.

Answer 4

i'm not sure congress is responsible for the escalating prices for gasoline. but, i am sure that congress has done VERY LITTLE to curtail the rising costs. i believe that are not representing the people in a manner that is helpful and able to lessen the burden of our spending.
not only the price of gasoline, but the price of heating fuel and electricty is out of control. congress needs to take aggressive stands against public utilities to monitor and halt the monthly, yearly rise in this basic necessity.
shame on congress for not coming to the aid of the american people regarding these two critical issues.

atp

Answer 5

Duh.......thats what they are trying to do is to keep the big oil companies from gouging us. You know......record profits.
That gouging went on BEFORE the dems took congress.

Answer 6

Don't go trying to give the congress any ideas, that confuses them.

Answer 7

You should ask this question of Exon/Mobil...Didn't they just record the Highest Profits in History..........

Answer 8

congress is being controlled by special interests thru their Dem lapdogs....you figure it out

Answer 9

no its the administration