This was a hot topic just a week ago here at The Scooter Scoop and during my morning ritual of a glazed donut, 3 cups of coffee and a $2 cigar I ran across this Viewpoints letter from the Houston Chronicle. GREAT stuff. I wish you’d see MORE articles like this in the news. Educate the people!
Chron.com | LETTERS: Free market vs. scary lies: “AFTER listening for months to complaints about gas prices, I have to say it is apparent that a large majority of the population has absolutely no idea how prices are set in a free market. Essentially, it works like an auction.
The producer of the oil or gasoline puts his product on the auction block and sells it to the highest bidder. The winning bidders are now offering more than $70 a BBL to outbid everybody else.
So why all the anger at oil companies?
People don’t get mad when a seller on Ebay outbids them for a product or at the seller of a house when another buyer outbids and offers $20,000 more for a house.
The buyer is going to take the highest bid; anyone would.
But when it comes to gasoline and oil, people get upset. If someone is unwilling to pay $50 to fill up a sport utility vehicle, there are 10 others in China willing to spend $49.99 for that same gasoline to fill up their mopeds. Free markets work both ways.”
You really should click on the title link to get the whole story. Thanks Richard Anderson!
Thu, Apr 20, 2006
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