What amazed me in Nashville this weekend was that I stumbled upon a station as it opened up to pump gas. They sold it for $3.99.... until they sold out. Why did gas stations not hike their prices? Were they afraid of being accused and investigated for "gouging?" Apparently Knoxville had higher prices last week which should have worked to ration the scarce supply. It will be interesting to evaluate the nature of this gas price shock as we learn more. I've never seen anything like it. From Sunday's Knoxville News Sentinel:
Gov. Phil Bredesen is taking notice. He's calling on Washington and industry to be more proactive in energy security to ensure that the U.S. energy network isn't vulnerable.
Bredesen expressed a willingness to sit down with refinery, pipeline, wholesale and retail petroleum executives to discuss the ongoing shortage issue in Tennessee, although he said the head of Exxon likely won't care what the governor of Tennessee thinks. More...
Bredesen expressed a willingness to sit down with refinery, pipeline, wholesale and retail petroleum executives to discuss the ongoing shortage issue in Tennessee, although he said the head of Exxon likely won't care what the governor of Tennessee thinks. More...
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