BrianGarst.com

I’ve addressed the folly of “price gouging” legislation here enough already, but something in this article caught my eye. Though loaded with most of the usual nonsense, a particular statement stood out.

For the first time, it would be a federal crime to charge “unconscionably excessive” prices for petroleum products at the wholesale or retail level. Critics of the provisions, including the Bush administration, said the measure amounts to price regulation and could lead to supply shortages.

“The federal government has all the legal tools necessary to address price gouging,” said the White House.

The oil industry has repeatedly argued that many investigations have failed to uncover price fixing by oil companies. “If there is no manipulation, there should be no fear of a strong federal statute,” Cantwell countered at a news conference Tuesday.

Sen. Larry Craig, R-Idaho, called the price gouging provision “a feel-good vote” that he probably would support. “But does it bring gas prices down? Probably not,” he said.

And for whom does this vote “feel-good”? It shouldn’t feel good for anyone who believes in free enterprise. It shouldn’t feel good for anyone who believes in the fundamental principles this country was founded on. It might feel good for those who think the federal government should have the final say in everything, including the prices of our goods. So I’d expect it to feel great for a socialist, but it’s a sad state of affairs when such nonsense feels good to Senator and member of the supposedly free-market party. No wonder Republicans seem lost. No one has any principles any more; it’s all just “feelings”.

"price gouging" Larry Craig Republicans