price gouging

So Bush is going to veto another bill presented by the house to enforce stricter penalties to those that price gauge gasoline prices. His reasoning? The White House called the measure a form of "price controls" that could result in fuel shortages.

Lame.

I understand the economic aspect. It's like minimum wage laws and rent control. In the short run, prices would be lower and so people would demand more gas, but because the demand has increased and prices are lower, a shortage will occur. This is all because they think that stopping illegal price discrimination causes a shortage? Im tired of conservative rhetoric. They think they have such a handle on capitalism that anything they say about the economy will automatically be true. What they don't know is that the market price is a naturally set mechanism. If people go on and fuck that up, who are the ones messing with economic equilibrium then?

The refineries complain that the shortage is what has led to an increase in prices. A decrease in supply either creates a shortage or they are forced to increase prices. not both. nice try ass holes.