Gas Gouging? There is a school of not inconsiderable thought that the rising of prices in emergencies is a necessary market function for conserving limited resources that would otherwise be squandered in the first few hours of the catastrophe or in those hours leading up to it. In this time of possible emergency we won’t be so insensitive as to further discuss the merits of this notion nor will we suggest that the theory corresponds to every example of the phenomena. We will, however, gladly point out that “price gouging” at the pump is not something that occurs only in times of tropical storms and hurricanes. It is something that takes place each and every day and can be traced back to government taxes and regulations that jack up the price of our fuel so that they can derive higher net profits out of this product than all those greedy oil companies do.
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