Gas prices next step?

[NotSoSilentBob]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: R0cketer</div><div class="ubbcode-body"> Future gas. Not the gas they have in the tank or anything thats on trucks.
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You have to be able to pay for what will go back into the tank.

[imported_elp6n]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NotSoSilentBob</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: R0cketer</div><div class="ubbcode-body">Go to gaswatch.energy.gov and report any that are gouging

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What is 'gouging'?</div></div>
http://www.merriam-webster.com/dictionary/gouging

[NotSoSilentBob]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: elp6n</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NotSoSilentBob</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: R0cketer</div><div class="ubbcode-body">Go to gaswatch.energy.gov and report any that are gouging

</div></div>

What is 'gouging'?</div></div>
http://www.merriam-webster.com/dictionary/gouging
</div></div>

Is the owner of a gas station holding you at gunpoint and forcing you to buy his gas?

[R0cketer]

Dang Bob, I figured you had the sense to know what it is and what it means

Price gouging is a pejorative term for a seller pricing much higher than is considered reasonable or fair. In precise, legal usage, it is the name of a felony that applies in some of the United States only during civil emergencies. In less precise usage, it can refer either to prices obtained by practices inconsistent with a competitive free market, or to windfall profits. Non-pejorative uses are generally in reaction to what the writer believes is an unjustified restraint on the market.[citation needed]

The economic theory of the last free market[clarify] suggests that, even in unusual circumstances, price controls do more harm than good by preventing incentives for the supply of needed goods. For example, in a disaster situation, a very high price for equipment (e.g. tents) will prompt hugely increased supply of the relevant goods. Libertarians are among those who think firms should be allowed to charge what they want regardless of the circumstances.

As a criminal offense, Florida's law is reasonably typical. Price gouging may be charged when a supplier of essential goods or services sharply raises the prices asked in anticipation of or during a civil emergency, or when it cancels or dishonors contracts in order to take advantage of an increase in prices related to such an emergency. The model case is a retailer who increases the price of existing stocks of milk and bread when a hurricane is imminent. It is a defense to show that the price increase mostly reflects increased costs, such as running an emergency generator, or hazard pay for workers.

The term is similar to profiteering but can be distinguished by being short-term and localized, and by a restriction to essentials such as food, clothing, shelter, medicine and equipment needed to preserve life, limb and property. In jurisdictions where there is no such crime, the term may still be used to pressure firms to refrain from such behavior.

Some support the ability to raise prices under such circumstances, asserting that government prohibition of the practice is a violation of individual rights or that the ability to raise prices has beneficial effects or both. While some economists who defend the practice use the term "price gouging", others disparage it as merely pejorative.

The term is not in widespread use in economic theory but is sometimes used to refer to practices of a coercive monopoly which raises prices above the market rate that would otherwise prevail in a competitive environment. [1] Alternatively, it may refer to suppliers' benefiting to excess from a short-term change in the demand curve.

[centennialdawg]

Excellent explanation Rock.

[R0cketer]

Wikipedia is my friend LOL

[NotSoSilentBob]

I know what many refer to as 'price gouging'. What I don't understand is how anyone can believe such a thing.

[CoeburnCane]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NotSoSilentBob</div><div class="ubbcode-body">I know what many refer to as 'price gouging'. What I don't understand is how anyone can believe such a thing.</div></div>

We don't expect an economic mental-midget to understand such terminology.

[sup-rbeast]

You would think no one had ever seen a Hurricane before 2005...gas didn't used to go up every time there was a storm in the gulf. Plain and simple it's price gouging.

[NotSoSilentBob]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: CoeburnCane</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NotSoSilentBob</div><div class="ubbcode-body">I know what many refer to as 'price gouging'. What I don't understand is how anyone can believe such a thing.</div></div>

We don't expect an economic mental-midget to understand such terminology. </div></div>

[censored] yourself.