Can the Government control fuel prices?

[Kagetsu]

Yes. It is possible and legal for the Federal Government to use price controls. It was tried during the Carter administration. The problem they discovered was that it also became possible to have large scale unemployment and runaway inflation at the same time. National Economics and money in general are an illusion. It's what people want to think it is.

[Roadmedic]

Originally Posted by Kagetsu

Yes. It is possible and legal for the Federal Government to use price controls. It was tried during the Carter administration. The problem they discovered was that it also became possible to have large scale unemployment and runaway inflation at the same time. National Economics and money in general are an illusion. It's what people want to think it is.

The price controls were put in place in the early 1970's. Like about 1973 or so. If I remember right, Carter was elected in 1976. Just another way to blame a democrat. But then again I am not surprised at this.

[Ronnocomot]

Originally Posted by Roadmedic

The price controls were put in place in the early 1970's. Like about 1973 or so. If I remember right, Carter was elected in 1976. Just another way to blame a democrat. But then again I am not surprised at this.

You're right, Jimmy Carter gets to own the 1979 one though.

The Carter Administration began a phased decontrol of oil prices on 5 April when the average price of crude oil was $15.85. Over the next 12 months the price of crude oil rose to $39.50 (its all time highest real price until March 3, 2008.
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[Roadmedic]

Originally Posted by Ronnocomot

You're right, Jimmy Carter gets to own the 1979 one though.

The Carter Administration began a phased decontrol of oil prices on 5 April when the average price of crude oil was $15.85. Over the next 12 months the price of crude oil rose to $39.50 (its all time highest real price until March 3, 2008.
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One of the many things that Carter had to live with.

[peanut2008]

It`s called the war in Iraq
Operation
Iraqi
Liberation

[Ronnocomot]

Originally Posted by peanut2008

It`s called the war in Iraq
Operation
Iraqi
Liberation

Care to elaborate on what one has to with the other?

[peanut2008]

Afterall we had an oil glut in 2000 and it was only $15.00 a barrel back then gas was 99.9 cents a gallon diesel was 79.9 cents a gallon.

[lookingup]

Originally Posted by MommaKay

President Bush has been popping up frequently as of late, claiming that there is little to nothing that the Government can do about the rising cost of fuel. Interestingly enough, this flies in the face of an Executive Order which he issued on May 18th, 2001.

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With Bush's royalties cooped up in the Oil trade, yep he's right he can't do much , thats if he doesn't want to miss out on the Best profits he'll ever aquire, i mean he's got to consider retirement you know

[Ronnocomot]

Originally Posted by peanut2008

Afterall we had an oil glut in 2000 and it was only $15.00 a barrel back then gas was 99.9 cents a gallon diesel was 79.9 cents a gallon.

In 1980, gas was $1.25 a gallon.
Inflation was 13.5%
Median Household income was $17,710

Wanna go back to that?

In 2007,
Gas averaged around $3.00 a gallon
Inflation was 2.85%
Median household income was $49,000+

[3 weelin geezer]

Originally Posted by peanut2008

Afterall we had an oil glut in 2000 and it was only $15.00 a barrel back then gas was 99.9 cents a gallon diesel was 79.9 cents a gallon.

I remember it around $1.45 and thought the guy down in Blythe, Ca just off of I-10 was ripping everyone off with $2.98/gal! Actually, he was since just down the road about a mile it was at the more sane price.