Many of you have noticed that gas prices have inched up to $4.00 a gallon. This increase in gas prices may hamper the nascent economic recovery that is taking place in our economy and it comes at a time when oil companies are reeling in record profit levels.
The question becomes: should the government step in to regulate the price of gas?
A free-market advocate would argue that the increase in gas prices and the record profits of the oil companies are results of the finest aspects of capitalism. Oil companies are simply passing along the cost of the crises in the Middle East and consumers in America are not willing to adjust their lifestyles or purchasing patterns to keep costs down. Free market advocates would also argue that taxing oil companies or charging them a "obsessive profit" tax would undermine the incentive oil companies have to supply more of their product.
Regulators, on the other hand, would argue that since oil companies are making record profits at the expense of consumers who are tied into a car culture (inelastic demand?) that they cannot quickly change, the government should regulate. This regulation could keep the price of gas down while still allowing for a more modest profit for the oil companies. In this way, the government could also keep the modest economic recovery from falling apart.
Where do you stand? Regulate on oil companies or let the market take its natural course? Where do you think the major political parties stand on this issue?
Kevin Krivda, Bauer P1
ReplyDeleteI think that our government should begin a moderate increase in offshore drilling and more drilling here in our own country. I know that the republicans are more inclined to let the market run its course and teh democrats want government intervention and as much as it pains me to side with liberals, I must say that the government must step in and do soemthing. However, im most positive that this issue will not be addressed anytime soon or will only be argued in both houses and get no where. it is the painful partisanship we live in today.
regulate-democrats
ReplyDeletedo not regulate-republicans.
im with the regulate side. i need a car to get around, and i already have trouble paying my bills let alone gas. at the expense of the consumer, the oil company is one company that needs to be regulated.
I think that the government should only regulate at a minimum. The government does not need to control every aspect of the oil companies, and the economy should be allowed to follow its own course. However if the government begins to regulate at a minimum then the pice of gas may still increase but it will at a much slower rate. Sloan p.3
ReplyDeleteI think the government should step in to regulate prices. That being said, I don't think they should completely take over the oil companies or anything, just a small amount of regulation. Although rapidly growing gas prices need to be stopped, we also need to try and change our habits. Find another form of transportation sometimes; it could be good exercise AND it would help the gas crisis. :) If both of those things can happen, I think the situation would be much better.
ReplyDeleteRegulating gas prices would be the only option at this point. At the rate the prices are rising, it looks like it may get quite a bit higher. A price cieling should be put on the price of gas so that it does not get too expensive for the consumers and so that the major oil companies do not get greedy and make exceedingly large profits. I believe the democratic and republican parties are figuring out a way to stop the excessive gas prices and make American consumers happy again.
ReplyDeleteI think that regulating the gas prices is really important as of right now because the prices are really high and its becoming a really big isuue around the whole world. I think the democrats shoulld step in and try o help outt with the oil companies.
ReplyDeleteJaskiran Kaur
Mr. Bauer
Government
Period 2
I think that the government should regulate gas prices, taking in mind our economy's current state. If the market takes its natural course, then the outcome will be unpredictable.
ReplyDeleteGuadalupe Velasquez
Sloan, period 1
I agree with J.Rob that there should be a price ceiling put on the price of gas so gas prices do not get out of hand.
ReplyDeleteI plan on taking classes at a community college first and then transfer to a university. The oopportunity cost of my decision is I'm choosing to go t community instead of going straight to state while the prices aren't too rediculous yet. A year from now I see myseld taking classes to transfer to a university.
ReplyDeleteSloan p.2
the govt should regulate gas prices,$4 a gallon is a little too high.Specially for cars that use up alot of gas,people need to use their cars but also people should find better ways to find transportation.
ReplyDeletetania hinojosa
sloan p5
I agree that there should be some type of government regulation of oil pricing. Oil is a necessity for almost all citizens and several businesses. Increased prices of oil take advantage of the fact that cars MUST have gas to operate. Without oil a person can't use a car and without a car a person can't arrive at work regularly and on time. Without a job a person can't earn money and without money a person can't function in society. If the government is able to figure out an amount of pricing oil which both is low and allows for businesses to make a profit, then it should be done. Oil companies cannot be trusted fully since the prices ultimately reflect their wanted profit like any other business.
ReplyDeleteDevin Smith, Mr. Bauer, P.1.
I would love it if the gas prices were regulated, but i also agree that people should the the market take its own path. Gas prices have gone up before and fallen, we need to let whatever needs to happen, happen now, instead of later on down the road.so i believe that the economy should do what it needs to do, and the gov. should stay out of it, even though i was lower gas prices :)
ReplyDeleteTrista Dowdy
Sloan per 5
The goverment should not step to regulate the price of gas. Sure paying that $4 a gallon sucks but oil companies need that profit in order to research and drill for future oil in differnent places. The Middle East's oil isn't going to last forever, so the oil companies are currently on the search for new sources to feed the fossil fuel loving cultures of the World.
ReplyDeleteI personally don't really like driving, so I'd be better off with taking public transportation, or if I lived in a city, walking. However, as evidenced by recent trends in gas prices, they will most likely reach a high point in which people will be forced to conserve because they can't afford it. The demand will go down, and the bottom will fall out of the market, and oil prices will be cheap(er) again. It's a cyclical process, which has happened many times before. If regulated, I don't think that the quality of the product will go down very much, but the free market pushers will get upset about it. Overall, it's kind of up in the air.
ReplyDeleteBrian S.
Sloan Per. 4
I think that the government should regulate gas prices because it is true when people say that gas is NEEDED. The economy would get a boost from this also and would help us get out of the recession
ReplyDeleteGerardo Salcido
Bauer P.5
The government should regulate the gas prices. The gas prices are just too high right now, and a lot of people need to get around. I think it would be best if the prices were to be regulated. It would make a lot of people happy.
ReplyDeleteMelissa Quezada
Mr. Bauer
P.2
Breana spiro sloan p.4 I believe that the government needs to step in and do some kind of regulating or leave our oil places alone and start buying oil from, other counties until we can build up our oil production were using more, oil than what can be produced and the gov needs to do something because we will be running out very soon
ReplyDeleteI believe the government should step in especially because the oil companies are making record profits. They should lower the cost of oil but still insure that the companies are making enough good profit. This must be done because it gas prices remain this high then it'll effect our economy's recovery.
ReplyDeletei think the government should break down companies and create new ones like they have done so before, this way there is more competition and prices will start to lower
ReplyDeleteUsually i would say that the government shouldnt control prices but in this case they need to do something about it because oil companies are just taking advantage of everyone.
ReplyDeleteJohn Skinner
ReplyDeleteMr. Sloan
Econ p.4
I think the government should regulate the gas companies to create a medium for gas prices. Why? gas is getting to the point where it is too high.
a.k.a: THE PRICE FOR GAS IS TO DAMN HIGH
inb4 the rent is too damn high...
I think that the government should regulate gas prices because its too high i think that oil companies are abusing the high profits by increasing gas prices.The government should find ways to help.
ReplyDeletethe government does need to check the oil companies to an extent. these companies are refusing to take their share of the losses that both producers and consumers should share during times like these. however, if the government is too involved, gas stations could end up like the dmv.
ReplyDeleteI believe the government should step in, because if they keep waiting prices will soon exceed what people are able to afford. As far as where the major political parties stand I believe republicans are more inclined to let the market run its course while democrats are more towards the government stepping in.
ReplyDelete-Ivan Cardenas
Mr. Sloan Per. 3
Don't know if my earlier comment went through...?
ReplyDeleteI think it would certainly be helpful if the government stepped in and helped regulate the escalating gas prices. I am not a fan of paying $4.00 per gallon at all.
However, the US dependence on foreign oil is regretable, and this could be an opportunity to really address this issue and get some other forms of energy to the top of the list, above foreign oil.
I, myself, believe that the oil companies should be somehow regulated by the government. I've actually begun to realize the true effects of high gas prices for the first time as I now pay for my own (premium) gas and pay around $4.15 every single time I go to work. If gas prices go up any more, there may be no point in me even working (at least out of town) and so influencing me to resign, therefore hurting the economy altogether. Before unemployment gets worse from everyone, at least minimum wage laborers, quitting their jobs, the government should most definitely step in. Although Republicans usually have the money for gas and love to see the rich get richer, not many people in today's day are in that same situation. I believe Democrats are probably being very much active in this fight for government regulation.
ReplyDelete--SLOAN
AP ECON, P.3
I am a cosumer of fas, and i rely heavily on it to get from work to scholl and then back home. I live far away from school and work so my car is my only form of transportation. So i see this from a consumers point of view. It is nice to see the capatalist system bringing someone high profits, but when your seeing things from someone that relies heavily on gas things do not look so well. I do not make a lot of money, and it is hard for me to pay high gas prices while the economy is in a reccision. I would be on the side of the gas regulators to keep gas prices lower.
ReplyDeleteI believe the gas prices right now are rediculously high so everything that can be done to help the gas situation should be don oil companies should be regualted, or the price of gas is just going to keep rising and rising.Something has to be done about the prices, if not now soon.
ReplyDeleteI think political parties with want the natural cycle of the economy to take place and let the gas prices increase in hope to start a fix to the bad economy. However, as a person who drives I’ve noticed that gas prices increase every few days. I certainly don’t want to have to pay more for the gas I use.
ReplyDeleteIt would be hard for the government to regulate gasoline prices, without being able to regulate oil prices. However i do believe that the government could essentially set the profit margin for refining oil into gasoline.
ReplyDeleteWell i believe that for now they should not regulate because our economy is bad but regulating the prices would not help. Yet when the prices reach an excessive price (which might be in a couple of years)then we should maybe regulate the price of the oil, but one day regulating and the government wont stop the fact that sooner or later our natural resource of oil will be gone.
ReplyDeleteI think that regulating the gas prices is really important right now because the prices are really high and its becoming a really big isuue around the whole world. I think the democrats should step in and try to help out with the oil companies.
ReplyDeleteI don't really know what to say. Im car-less at the moment and well I wont be getting a car anytime soon either because there is simply no need for one in the city. BUT if i were to eventually own a car and prices were up that high I wouldn't be too happy because that is waaaaayyy to much for gas but if thats a way to get our economy up then let nature run its course. Instead of getting education cuts they should just raise tax on gas. IN MY OPINION.
ReplyDeleteAdilene Vazquez
Sloan Period onee
Maria Perez
ReplyDeleteSloan P.4
I believe that the government should regulate the prices of things such as gas for cars, so it does not go up, stay at a good price where people can pay for. The regulating will save the people money, so it will also make the economy recover.
I think the Government should regulate to a certain extent. Perhaps make a cap off line and if the oil companies go past that limit, the government could fine them. I also think we should increase our own off-shore drilling so that we can get off of foreign oil. Or make cars that run off of some other product than oil.
ReplyDeleteThe government should partially step in to regulate oil companies and ensure that prices do not continue to rise. If it does not, prices could continue to increase and lead to an even worse state for our economy. The government should not overregulate the oil companies but rather allow the market to run naturally.
ReplyDeleteMy stand on this situation really isnt a strong one because i dont drive but it still effects me in ways like when i want to go to the mall but cant because my boyfriend doesnt have enough gas. i think hat the govt should step in and regulate this gas price problems because they are the ones who are going to solve it the fastest. i also think that the politicians are going to dissagree with that because they are the one that would want to solve the problem first.
ReplyDeleteSteffanie Eisenga
Sloan
Per 5
I think that the government needs to start drilling for oil in America so we don't have to rely on foreign oil which is making the gas prices go up. If we drill for oil here the gas prices would go down. SLoan per 1
ReplyDeleteI do not like the high gas prices; however, i do not believe that the government should regulate the price. Price regulations might diminish the supply of gas that oil companies are willing to supply. Even slight decreases in profit might result in less supply. If people are really worried about gas prices, then maybe they should show stronger support for alternative fuels.
ReplyDeleteOmar Hoyos
Gas prices are increasing because of the turmoil in the Middle East. How can prices decrease? End our dependence on foreign oil and drill domestically. Approximately 19 billion barrels of oil exist off the Pacific and Atlantic coasts. Another 19 billion is located in Alaska, but due to government regulations, access to these deposits is restricted.
ReplyDeleteMore regulation isn’t the answer. Drill here. Drill now.
(Sloan P.3/Bauer P.4)
I don't believe that it would be the best idea to let government take over the price of oil in America, but at the rate that it is going, I would not be surprised if they did. I think that this is much like when the price of gas jumped from the $2 to the $3 range, a lot of boosters and a lot of talk until it becomes normal.
ReplyDeletei really dont like the fact that gas prices are so high and i hope that it doesnt rise any more. im sure that there is a reason why this is happening and i hope that the gas station will lower the prices back down to normal. i think that the government should get involved because it will help us. this gas rise has affected alot of things.
ReplyDeleteerika oropeza
p.4
mr.sloan
Since our gas is derived from foreign oil, it would be difficult for our government to regulate the prices. Plus, didn't this sort of regulation in the 70s lead to a supply shortage? It is imperative to our national security that we begin a more aggressive pursuit of domestic oil sources to end our dependence on foreign oil.
ReplyDeleteI believe the government should regulate because the price of gas is getting ridiculous. With the way the economy is now consumers are already having a hard time living. Most people need a car to travel from one place to another and with the gas prices going through the roof, consumers will not be able to get to the places they need to be.
ReplyDeleteSloan p.2
i think that our governement should put a price cieling on gas becasue it is unfair that the price keeps going up and up with no limitations. I think the u.s shouls use some of the reseources that we have to produce oil instead of raising the prices. The gas is alreasy up 2 almost 4$ per gallon which is alot.
ReplyDeleteClarisa Carrillo
Per.4
Sloan
well i think that the price of gas can stay the same so that the oil companies can look foe more oil but if the price begins to rise the en the government should get involved because the companies can become too powerful
ReplyDeleterichard manzo
sloan pr5
I think they shouldn't regulate the oil companies. gas always goes up and down and eventually the majority is happy with the price so it's not an issue anymore.If prices do go up even higher then the government should step in and do something.I don't drive at the moment so it doesn't affect me personally.
ReplyDeleteJose Alvarez..p4 sloan
I personally don't drive myself to school nor do I pay for any form of gasoline. However, I can appreciate the driver's woe when I see that gas prices are hitting on the four dollar mark. These stressed economic times and the ridiculous gas prices can prove to be to much for individuals. Maybe we should look at some opportunities in drilling on U.S. land and break our addiction of Middle Eastern oil. Maybe the government should put a price ceiling on gas prices, considering the astronomical amount of dough the oil companies are raking in.
ReplyDeleteMarklin Nixon
Mr. Sloan Per. 1
i say; Alternative fuel, sure it will take time and money at first, but isn’t that where we're headed anyway? Break from the oligopoly already .
ReplyDeletevern iniguez
SLOAN
p1
I think that the gas is just way too expensive and instead of looking for more places to drill the company's should look for new way to produce energy because there will an end too all this oil and we must begin on searching new ways for fuel . any way the economy isn't as good right now to be spending so much on fuel.
ReplyDeletericardo villalpando
pr5 sloan
I think the government should put a price cieling because its unfair how gas is going up and we have no fault for why they going up.they should find ways to produce oil without highering the prices.now the price is almost $4 and later i can raise up to $5 a gallon.
ReplyDeletei think the government should put a price ceiling on gas. Gas is becoming wwayyyy to expensive. It's only making people want to get less gas and eventually it'll all backfire. :\
ReplyDeleteDaniel Ruiz
Sloan Econ
Per. 5
I do think the government should regulate gas prices because the prices are just getting out of proportion. Four dollars a gallon is something that would have never been imagined about 3 years ago. I do not drive, but everyone knows that without transportation we would be screwed lol.
ReplyDeleteI think gas is getting too expensive. The gov't is very busy with all of the other problems we have been having but I think gas and transportation is a problem that should be solved first by the gov't.
ReplyDeleteBauer P.5
Firstly, I do believe in laissez-faire and leaving the market up to the people. But I know that that would lead to a very corrupt marketing system. I want the government to step in and regulate some of the gas prices. If you look at the percentage of the money you spend on gas around 14% goes to government taxes. Cutting those down will help me and you out, but how well will that effect the economy? It could be bad, but if they cut it down just enough, according to Lafer's Curve, we may be better off if we cut that down. So I feel the government should step in and regulate our gas prices, or invest in other forma of fuel.
ReplyDeleteIf we regulate oil, the price of oil might be more affordable to consumers, but how much money will the government have to waste to keep the price down. Regulation will make the debt, which is already large, even larger and not many people want a larger debt either.
ReplyDeleteJoeylee Maimone, Sloan 4
ReplyDeleteDriving around has become pretty expensive, and if gas prices continue to increase, no one is going to buy gas. And as a result of that, a lot of other businesses will go down as a result of people not wanting to spend money on gas. Everything is stimulated by gas, so yeah, the government should step in and help this situation. I think that instead of getting oil from foreign countries, we should drill oil here. We could probably supply ourselves with the oil we have for quite some time as well..
amanda eckroth
ReplyDeleteper.1
sloan
yes i think they should regulate the gas prices. i need to gas to back down to 2.00 a gallon that was the good old days.. i love my car and i want to keep driving my car but if the gas prices keep going up then im scrwed so yes gov regalate on the gas...
I think that the Government should regulate the gas prices because it is too high as for now,since people don't really have the money to put gas in car. The economy is down as well. I think the democrats or someone should step in and lower the gas prices.
ReplyDeleteSania Bacha
Bauer. Period 3
Government regulation is always tricky, and Republicans and Democrats are probably very split on the issue. The problem is, they both want the best for consumers and producers, but they envision it happening through different ways. The truth is, no one really knows the effect regulating would have on the market. It could temporarily help consumers, but it could hurt business and the economy in the long run. On the other hand, we are getting robbed by the gas companies right now. I think minimal regulation should be enforced to push the gas companies towards lower prices without hurting business.
ReplyDeleteCaleb Boyd
Mr. Sloan
Per. 2
I think that the government should not get involve with the oil companies. I also think that we should just let gas companies do what ever they like. Our government should not always have to fix our economic problems that us (citizens)have. If your unhappy with these gas prices than you should buy a bicycle or a hybrid vehicle.
ReplyDeleteI honestly dont know what would be the best choice, but if i had to make a decision i would rather have things stay the same. and if prices got extreamly high then i think we would need the goverments help.
ReplyDeletemonica salazar
mr.sloan
p4
I think that the government should regualte the oil prices. 4$ is way too much to pay for gasoline. Im don't think that the government should do such a change that will hurt business, but one that will decrease the profits and the prices of oil. This way oil companies can still get a profit, while consumers are still able to afford paying for gasoline. There is the option of just letting the situation be, but this involves a lot of "assuming", and not enough action. We can asssume the situation can fix itself, but why assume when the government can just take the proper actions to guarantee it.
ReplyDeleteI believe the government should regulate the oil prices. The prices are so high, and it is because it is a monopoly and it is not right. America is in a recession and there not helping it.
ReplyDeletei think the government needs to change the gas prices. they are way too high right now and its hard for families to afford it. there needs to be a limit to the prices of gas or else more people will just suffer. gas is pretty much considered a necessity for us so why take advantage of us? thats not right in my opinion.
ReplyDeleteThe government should step in but only a little, because gas is very pricey. They should just drill in the US so we don't have to deal with the Middle East anymore. That would be the solution in a perfect world.
ReplyDeleteI think that the government should step in to regulate this problem but i also think he should set a price ceiling because it would be fair to those who purchase fuel. I also think that we shouldn't let the government regulate the system completely but only a part of if since the government is already dealing wiht other problems as well. I believe that both Republicans and Democrats should come to an agreement to help out.
ReplyDeleteKaren villasenor
Mr. Bauer
PER:2
Americans have completely become dependent on limited natural resources. The high price of gas, a natural resource, will eventually cause inflation. I do think the government should implement regulations. Although regulations can cause a great gain they can also cause great harm It is a risk. The government should lower the price of gas just enough to make it more affordable for us while allowing businesses to still make a decent profit.
ReplyDeleteGabby Cello/ Mr. Sloan/p.3
The government should regulate the price of gas and oil companies. Usually I am not one for regulation, but since gas is such a part of our lives it would be quite nice for it to be a little cheaper. It also doesnt make sense to endanger what little economic recovery we have eperienced by making people lose more money.
ReplyDeleteMr. Bauer
ReplyDeletePeriod 2
Gas prices are so high right now people need it to get to places. The goverment should regulate the gas prices. Their should be limit to how high gas should be.
I think the government should focus on alternative energy sources, because that is what will really help us in the future.
ReplyDeleteJacob Farrar
ReplyDeletebauer 4th
I think that we should reglate the oil companies becuse they are the barrier that everyone is trying to get past. We all want to go "Greener" yet when it comes to make the desition, we just stick with the "oil". If we really wanted to make a change, then this is where we need to make it.
I think things are only going to get worse and prices will continue to rise to a rediculous level, so I think a bit of regulation is necessary. A free market is nice and all, but with so many outside factors and crises affecting prices, the government needs to make sure that consumers get the best out of the market and don't let oil companies take complete advantage of us. Bauer/ Sloan
ReplyDeleteHow about we get smart. and start using the oil reserves that we have in the mountains of Utah, idaho, and colorado Jordan. Elzie. Per 2 sloan
ReplyDeleteI believe that the government should step in and regulate oil prices. If you look at all these guys that we buy the oil from they are living lives beyond belief. They have so much money they make rich americans look like they have chump change. They should cut back on the price, they would not loose any money because we would be buying more of the oil at a lower price, we would buy so much they would make more money
ReplyDeleteWell there is nothing the government cab do as it was showin in the 70 s when they tried but instead of fightingthem to finish put more enviormental laws on them or increase spending in alturntive fuel.
ReplyDeleteRyan glenn sloan per 2
Gov't should change the policies on how we get are oil. We as Americans rely to much on foreign oil. And by this we suffer from drama they have in their countries which affect the prices of are gas to $4.00 per gal. This impacts are economy making it that much harder to mange in our already rough economy.
ReplyDeleteI think regulation is needed because the prices for gas are going way up and that is really bad. A free market is good but there are problems that should be situated first.
ReplyDeleteJaskiran Kaur
Mr. Bauer
Government
Period 2
In my opinion the gas should not be rising higher in price because sooner or later people are just going to stop wanting to pay for so much.
ReplyDeleteAniscia Silva
Sloan
Per 5
We need to increase spending on either developing alternative fuels substantially or start building more refineries and drilling platforms and making engines more efficient. Why is it that in the last 60 years we have gone to the moon, created nuclear weapons, can call people across the world with devices that fit in your pocket, but the average engine is still only %20 efficient and takes 14 mpg?
ReplyDeleteBecause I am one of the people who have to drive about 200 miles a week i want whatever will give me lower gas prices, however i think if we let the economy correct itself it would be better than the government maybe messing up the economy.
ReplyDeletePersonally I think the government should have little regulation over business and support the free market. However I think it is up to the government to produce more local oil and alternatives instead of relying upon Opec for our lifeline.
ReplyDeleteWe need to start drilling in America more. It is because of regulation we rely on foreign oil companies. Our prices are tied to the going on of the middle east. This can be prevented, but it won't.
ReplyDeleteRegulation will end up with higher prices down the road.
To prevent someone from making their money is horrible. It goes against many basic principals that our nation was based on.
Republicans want less reg, while democrats want more.
Caleb Newman
I think that if we regulate gas prices, the gas companies wont be able to afford to pay for the gas. But there are other energy resources that should be looked in to.
ReplyDeletethe government should regulate but to a certain extent. maybe the government puts on a fine for those passing a certain limit. I believe we should increase our own off-shore drilling so that we can get off of foreign oil production. i dont think there is other resources to capture energy.
ReplyDeleteI believe that the government should regulate gas prices, but only moderately, so that companies can still stay in business, but not be taking away excessive money by consumers by raising the prices too much.
ReplyDeleteBrian Leiva
Mr. Sloan
Period 5
The government needs to think about off shore drilling because the higher gas prices get the harder things get on people i affects everyone. The government needs to help the people out some how besides creating taxes and raising prices.
ReplyDeleteEJ Keller
Per.4
Sloan
I think the government should regulate the gas prices. The gas prices are just too high right now, and a lot of people need to get around places. I think it would be best if the prices were to be regulated. It would make a lot of people more happy to now the they could go to places without thinking about the gas price.
ReplyDeleteStephanie A
Mr. Sloan
Per.4
The government should regulate the gas prices. The gas prices are just too high right now, and a lot of people need to get around places. I think it would be best if the prices were to be regulated. It would make a lot of people happier to now that they could go to places without thinking about the gas price.
ReplyDeleteStephanie A
Mr.sloan
Per.4