This is why suppliers of highly inelastic supply/demand commodities need to be regulated.
I'm normally against regulation, but it seems that we're getting raped with the current prices, and they're making gobs of money, mainly because they've nicely construed to make it a cheap commodity that's close to being scarce (at the pump, not at the source) due to reduced supply-line buffering.
Did you read the Consumer's Report analysis of the last 20 years of the fuel industry? Very interesting reading.
January 31 2005, 17:51:19 UTC 10 years ago
I'm normally against regulation, but it seems that we're getting raped with the current prices, and they're making gobs of money, mainly because they've nicely construed to make it a cheap commodity that's close to being scarce (at the pump, not at the source) due to reduced supply-line buffering.
Did you read the Consumer's Report analysis of the last 20 years of the fuel industry? Very interesting reading.