Wednesday, October 05, 2005

Another Gas Cap Report

Another Report on what this Gas Cap is taking from the Economy.

I can't believe it. I saw on our Local Main Stream Media (MSM) showing Mr. Frank Young proclaiming that this idiotic piece of legislation is a good thing and has stablized the market. Of course they did not give any one from the other side explaining how bad this legislation is and it is just another way for the government to control us and kill any sort of free enterprise.

Sept. 29: Gas Cap Costs Consumers 27 Cents a Gallon
Total Cost of Gas Cap to Date is $9.1 million More Than Without the Cap
By House Minority Leader Lynn Finnegann, 9/29/2005 2:01:56 PM
Today, the gas cap raised Hawaii's gas price an average 27 cents a gallon above what gas would have cost without the cap. The House Minority Caucus' eleventh daily report on the gas cap's cost to Hawaii's consumers (attached) shows that over the 29 day period since the gas cap began Sept. 1, Hawaii consumers have paid an extra $9.1 million for gasoline. And the cost rises daily.

In the period since the gas cap began Sept. 1, AAA data shows that the difference between gas price increases in Washington and Oregon on one hand (up 6 cents a gallon from Sept. 1's average of $2.80 gallon), and Hawaii's gasoline price increase on the other (up 33 cents from $2.95 a gallon on Sept. 1) works out to 27 cents a gallon.

Thus, 27 cents a gallon represents the gas cap's current actual cost to Hawaii consumers.

Washington and Oregon, like Hawaii, buy all their oil from Asia and Alaska. All three states import no oil from Gulf ports or anywhere else on the mainland. This means consumers in Washington, Oregon, and Hawaii would be looking at nearly identical price increases since Sept. 1, if there were no gas cap.

The gas cap is based on Gulf port and New York prices, prices severely affected by events in that part of the country. For that reason, Hawaii's gas price has increased 33 cents a gallon from the time the gas cap began Sept. 1, or 27 cents above Washington-Oregon's 6 cents price increase.

Of course Washington and Oregon's prices, unlike Hawaii's, are unaffected by Eastern U.S. gasoline prices.

If we got rid of the gas cap and its imposition of East and Gulf Coast prices on our gasoline, today's Hawaii gas price could drop by 27 cents a gallon.

Lynn Finnegann is the Republican minority leader in the Hawaii State House of Representatives.

Hat tip Hawaii Reporter

These guys have to be stopped


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