Gas Gouging
I just read an excellent article by Holcberg of the Ayn Rand Institute titled “Who is Gouging Whom?” In it he argues that the high gas prices we face are caused by government interference in the market, not oil companies. He makes a great point that everybody who throws around the word “gouging” should consider:
Holcberg wrote:
To “gouge” means to extort, to take by force–something that oil companies and gas stations have no power to do. Unlike a government, which can forcibly take away its citizens’ money and dictate their behavior, an oil company can only make us an offer to buy its products, which we are free to reject.
and:
If we want to stop the irrational forces that have been driving up the price of gasoline and our cost of living, we must demand that our elected officials eliminate the regulations and excessive taxes that restrict the producers of oil and gas. It’s past time to stop gouging oil companies–and ourselves.
There is gas gouging going on, but it’s the government gouging the oil companies, not the other way around.
Tags: [gas gouging, government interference, oil companies]