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The Colonial Pipeline spill has caused 6 states (Tennessee, Virginia, Georgia, South Carolina, Alabama, and North Carolina) to declare a state of emergency. Gasoline (petrol) prices on the east coast are likely to spike. Yet, most puzzling is how this vast emergency and its likely effect on cost of living has gone unnoticed by mainstream media outlets. The pipeline is owned by Koch Industries: is this why the media is silent?
[Are there any Soylentils in the affected area who can corroborate this story? Have you heard of the spill, seen long gas lines, or any price gouging? -Ed.]
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Six US States Declare Emergency after Major Gasoline Pipeline Spill; Media Almost Silent
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(Score: 3, Insightful) by jmorris on Monday September 19 2016, @06:54PM
We should strike down all laws preventing 'price gouging' because they do far more harm than good. It sounds 'fair' and all, and I understand the politics in a country of illiterate fools, but from a practical and moral point of view the laws against it are insane.
Take this example. If the second the pipeline ruptured prices of gas in the area impacted jumped up $0.50/gal and went to $1 above baseline the next day, what would have happened? People would not have rushed the pumps to 'top up' instantly. Those who could delay a trip would have done do because of the price signal. Meanwhile those who really need gas would have still been able to get it. There would be immediate price incentives to start trucking fuel in from areas unaffected by the problem.
Or look at what happens when a hurricane threatens. Everybody flees and starts looking for an empty hotel room. Of course there are anti-gouging' laws so the prices do not go up. So people rent out three rooms for the family instead of crowding into one. Great for them, not so great for the thousands coming up behind them who have to keep driving past "NO VACANCY" signs. Not so great for the hotels who aren't staffed for the unexpected surge and can't afford to throw money at that problem to staff up for the week or two they will be at 100% occupancy. So they 'solved' that problem. Go to any hotel, even a lowly Model 6, in hurricane country and look at the government issue placard on the door with the hotel laws, emergency procedure, etc. Note the official published 'rack rate' for the dinky little basic room is $199 per night... but you just paid the 'discounted' rate of $49.95 at the front desk. So now when the hurricane is coming they stop 'discounting' the rooms. So why not just stop with the bullcrap?
After the hurricane people from all around get the bright idea to grab the trailer in their barn, roll it to their Home Dept and load up on generators. Run them into the impacted area and sell em for a fast 100% markup. If you can dodge the police who will arrest you and charge you for 'profiteering' that is. But who is harmed by this supposed crime? People who desperately need the product and are more than willing to pay a premium are certainly not harmed. The people who were trying to make a quick buck aren't doing anything wrong either. And of course a big chunk of that 'premium' the desperate will pay is risk premium against the police seizing the cargo. Yes it would be nice if charity would just deliver free generators but that does not in fact happen, and probably won't so the end result is misery and additional economic losses from spoiled perishables. It would be nice if the local Home Dept could arrange adaquate supply to be delivered from area locations in time, but that doesn't happen. In the critical first 72 hours you either already have a generator or you hope you can find an outlaw who will sell you one, knowing it makes both of you a 'criminal.'