As if $5 gas wasn’t bad enough, gas lines could be just around the corner as Washington Democrats work to create a supposed “solution” to the high prices by pushing for government intervention in the open economy… a not so capitalistic solution to the inflationary problem created by these same politicians.
House Democrats passed the Consumer Fuel Price Gouging Prevention Act last month, which would allow politicians to take civil action against gas companies who engage in “unconscionable pricing” during a declared energy emergency, the bill reads.
The bill gives the president power to declare an energy emergency, which could last up to 30 days with the option to extend the declaration.
The vagueness of “unconscionable pricing” would allow the government’s crack down on oil companies to be a complete price control, possibly leading to unwanted results – like gas lines.
“So essentially, what this bill would do is, for an unlimited duration, create a system where politicians and bureaucrats can decide what the appropriate level for prices are and fine people,” according to Jack Spencer, senior research fellow for energy and environmental policy at the Heritage Foundation.
Price fluctuates in a free market with supply and demand. Setting prices on a commodity such as oil would drive up demand and in turn diminish supply, something that was experienced in the 1970s when President Nixon implemented price controls to address inflation.
Nixon’s economic move created shortages until the price controls were completely repealed by Reagan 10 years later. Our leaders have the ability to learn from our mistakes in history, but it appears the federal government can’t look to the past in order to make better decisions for the future.
Convention of States can be a block in the road against uninformed and misguided politicians who have too much power and not enough knowledge. Article V of the Constitution allows the states to call a convention to come together and consider amendments to the Constitution in order to be a check on the federal government.
The same politicians who created the economic instabilities facing our nation today are proposing even graver “solutions." We can fix the chaos currently inside the swamp by implementing term limits, financial responsibility and an overall limit to the federal government’s size and jurisdiction.
To join our growing Convention of States movement, sign the petition below.