I will try to be as simple as I can be:
Economics: The study of the distribution of scarce resources with alternate uses.
So, I am sitting reading the Internet today and come across this gem.
Some highlights:
- Allow the Governor to ration gas in similar situations.
- Allow the Governor to freeze fuel prices.
Look, this is simple. Gas is a thing that if people were able to obtain for free, would soon run out; we wouldn’t have enough to go around. So we have to ration it. Today, we do this using money; as the price goes up, yuou may trend to use less, as the price goes down, you will tend to use more. Now, what the government wants to do is end the normal market method of rationing it and put it into the hands of elected officials who have almost zero ability to have a complete understanding of the market forces.
The result will be predictable: Lines.