This page was last updated on July 1, 2010.
End recession by cutting gas prices; David Brickner; Beaver County Times; July 1, 2010.
Below is a detailed critique of the subject letter.
“I have the key to ending the recession. Tell all of the oil companies that are making billions of dollars a year profit that they can’t charge more than $1.20 per gallon for regular gasoline.
“That would give me money to spend, money to pay my high interest credit cards and to buy something at the gas station.
“Everyone wins except the already wealthy oil companies. I would almost feel bad for them.”
[RWC] I don’t know if Mr. Brickner is serious or not, but let’s assume he is.
First, which provision of the Constitution gives the government the right to set the price for any product or service?
Second, according to the DOE, the worldwide average price for crude was $75.01/barrel ($1.79/gallon) for the week of June 25th. On top of that you need to add the cost of transportation (for both crude and finished product), refining, additives, gas stations, et cetera. When the price of raw materials alone is $0.59/gallon higher than what a gas station can charge, does Mr. Brickner expect anyone to sell gasoline? Gasoline would be “cheap,” but there wouldn’t be any to buy.
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