Should there be a price cap on oil and gas?


I think there should be a price cap on gas. I think the cap should be no more than $3.25 and I'm being generous

Feel free to post your opinions. I would like to know what other people think.

A price cap,while at first it sounds good,would eventually hurt the economy badly. We are a free market,capitolist society.Where we are allowed to make our profit,and set our prices as we see fit.Competition is what keeps prices in check.
Capping fuel prices would make Big Oil companies have to cut production here in the US and sell their oil on the open market to keep up their profit margin.
With a real fuel shortage on our hands what would happen to the rest of the economy?

I have to second daddyroo45. All a price cap would do is to force production to stop. Think about it: if you made a gadget for $1.00 and sold it for $2.00, you'd be making a profit. But if you made it for $3.00 and sold it for $2.00, you'd be a fool to make any more.

The same with gasoline. If you cap the price, then when it costs more than that to make the gas (and pay the overhead, salaries, shipping, etc.), you have no gas to use. When it is capped high enough to make a profit, there will be no way anyone will ever lower the price. They'll just make more profit.

TheRedneck

I.m not saying a price cap on the oil we buy from other countries. I'm talking about at the gas station. The government is the one benefitting from the high gas prices and yet gas isn't a tax deduction. If it was then I would say jack the prices up all you want. Oil and gas are in excessive. I think we have found a place that has enough fuel to keep us going for the next 40 years or so. Just from this one place. So the economy doesn't get hurt. The government benefits from the gas because they put a tax on gas that gas stations have to pay per gallon. Gas stations should just be the middle man. Get rid of the tax on the gas then prices will go down.

The 1970's was about 38 years ago. If the government enforces hybrid cars then their won't be long lines for gas. The need for gas will go down. My friend has a Hybrid and gets 46 to 48 miles to the gallon city. That is more than the non hybrid cars get on the highway. He said his tank will last him a month if not more depending on where he goes.

It won't go past Oil companies because Oil companies will then lose money and that would just be a horrible thing. If we put a cap on the gas then. Oil companies will start losing money. They won't lose much. If we all start using Hybrid cars then they will start losing more and more money. We need to use the resources we have now in order to use the better resources. Otherwise the car that runs on water will never be approved.

If it is in the best interest of the fuel companies executives to keep making money where the average consumer cannot write it off, then it shall continue.

At the same time does the average consumer know they ARE ALLOWED to write off their food and clothing costs in some states, if not all?

Denying Ingnorance...

Oh yeah, if I were to speculate... The gas Cap solution is one that will never be decided on. For all the good it would do for the average consumer, those poor Executives who struggle all day to make the next round of golf, might have to make a paltry 200% profit. Damn us average americans for suggesting such a thing.

I could make a decision that would solve this problem, and keep the executives making at least 300% profit on cost. It has something to do with capping the oil futures market. But hey, I'm sure I'm just being used when I give answers like this away.

If this actually happens, we all know it originated here, despite whatever nifty memos say.

-ADHD

I agree with ADHD.

Nothing will happen if we, the consumers, don't do anything about it. Congress won't get of their fat asses and stop making money to allow it.