Gas Prices

Paid $2.90 for Regular at Sam's yesterday, $3.09 everywhere else I saw.

No fun, but the worst possible thing would be government price controls of some kind, whichwould eliminate the incentive to (a) conserve, or (b) to bring new supplies to market, or (c) to develop alternative fuels, and (d) would also misallocate existing supplies and (e) produce immediate shortages and long gas lines.

So, of course, we can look for liberal Democrats to come out in favor of price controls. Hawaii has already jumped in with state-mandated wholesale prices, California is looking on with interest. "I think it's initially going to hurt," said William Aila Jr., 47, harbormaster of a marina in Waianae. "But if we're looking at a world where gas goes to $5 but it's capped here at $3, then that wouldn't be bad."

This economic genius imagines that if the free market gas price is $5.00, Hawaii will continue to be supplied with $3.00 gas. Now, that's true, 100-proof stupidity. If we had some ham, we could have ham and eggs. If we had some eggs.

Byron