Saturday, May 31, 2008

$2.50/gallon gas - Updated

Was I dreaming when I heard Neil Cavuto verbally sparring with a DNC spokes-ditz on Friday about a Democrat plan to reduce the price of gas?

Their plan is to reduce the price of gasoline by mandating it sell for no more than $2.50 per gallon.

The closest I could find about this is Cavuto's commentary.

UPDATE: Mrs. Headless found my answer.
With gas prices hitting new record highs nearly every day, Congressman Maurice Hinchey says its time for the federal government to step in and get prices back under control.

At a Binghamton gas station Thursday, Hinchey discussed several proposals to combat the problem. One bill Hinchey is working on would give the president the authority to set a temporary cap on gas prices at $2.49 a gallon, a big reduction from the current national average of $3.95. Hinchey says oil companies are already making such high profits that they could easily deal with the reduction.

"We're going to be introducing legislation over the course of the next couple of weeks in the Congress to give the president the right to step forward and say wait a minute, Mr. Oil Companies, your profits are too high, you're exploiting the people of this country too much, we're going to allow you to continue to make profits but we're going to stop the increase in those profits and put a cap on the price of gasoline," said Hinchey.

Brilliant. Absolutely brilliant, I say. Why don't the Republicans have leaders with this kind of economic gravitas?

But why stop there? I liked gas prices during the Clinton administration even better. We need to mandate a maximum gas price of 90 cents per gallon. Go for it, Congressman Hinchey.