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Price-gouging politics

04/16/2007
Decisions about energy policy, important as they are to consumers and taxpayers, should evolve from honest, level-headed discourse. The US instead gets this: “As gas prices rise, so do Big Oil’s efforts to deceive the American public.”The statement came Apr. 10 from Rep. Bart Stupak (D-Mich.), sponsor of legislation to make “price-gouging” illegal (OGJ Online, Feb. 28, 2007). Stupak was responding to a study by W. David Montgomery of CRA International for the American Council for Capital Formation (ACCF). The study likens price-gouging laws to price controls, which it estimates would increase the economic losses of a supply disruption as large as those follow...
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