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Originally Posted by rhetorical
Its like the 70's all over again. But here is the big question. If all this gas produced in the gulf is destined for the south. Why do the gas prices go up in Canada and the rest of the US?
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The Gulf supplies many areas, but markets such as Atlanta, Charlotte, Nashville are fed ONLY from the gulf. Now interestingly enough, Katrina did much more damage and we only had a couple of days where gas prices spiked and a few lines, but nothing like this although the damage was less.
Drill off the coast of Florida and we never have this problem again. Well at least not for another decade when the middle east hits max production and the world supply starts a downward trend.
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BTW, I disagree with you that the free market can fix this. Look at the economy today. That is the free market in full cry.....on bended knee.....asking for welfare payments because the free market does not work. Period.
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It's not a pure free market, it's a market tampered with by government regulations. This whole economic crunch is directly tied to bad loans. The so-called "sub prime" loans. Banks were encouraged and incented to take a chance and write loans to people who were high risk.
Again, I refer you to the Community Reinvestment Act and specifically the 1995 revisions put in by Clinton. Google it.
The U.S. conversion to socialism is inevitable at this point. I think this winds up being the first big step in that direction. But that doesn't mean I have to like it. The government hasn't shown me one thing they can run efficiently, why should I want to turn over even more power and control to them?