You can rely on the Dems to decide what is reasonable and fair in life; don’t worry, it for your own good. Six Democrats, led by Dennis Kucinich of Ohio, have proposed legislation to create a ‘Reasonable Profit Board’ to decide the fair profit allowable for the oil and gas industry. The Hill has an article here about the proposal.
There is no possible way that this could pass the Republican controlled House in this session of Congress; but, it is a glimpse of America’s future if Democrats are allowed by voters to regain control. Imagine the support this bill would have under the leadership of Nancy Pelosi.
This is always the way it starts. Pick a target, isolate it, polarize it, organize against it, be patient and build support; wait a minute, that sounds like Alynski’s Rule #13. Yes my friends, Alynski is alive and well and still influencing the Democratic party. The target has been chosen in this latest round of populist anger. The profits of the evil oil companies need to be controlled by a hand selected board of regulators who in their wisdom will understand what is fair and reasonable. But how could they when the legislation would exclude from the board, industry representatives who actually understand the risks and returns for their industry?
Another step towards government control will have been taken if this type of legislation is allowed to pass. Sure, it may be a popular theme to regulate gas prices, but what industry is next? We could sit here and make populist arguments for price control of many items that we use in our daily life. To an Occupy protestor, the controls would probably sound reasonable; to reasonable and logically thinking adults, the controls signal an accelerated slide into Socialism.
There is no need to waste additional words debating this particular piece of legislation; it is a stunt to garner attention for these Lefties prior to an election. Tapping into the populist theme of class warfare to win re-election is their only motive. But watch out! While this is not a serious attempt to pass legislation, the effort will not be wasted; others will build upon this proposal in the future.
This has little to do with fair pricing for gasoline. If the concern was to actually hold down gas prices, then these Democrats would have pushed the President to fast-track approval for the Keystone pipeline and promote domestic drilling to increase domestic oil supplies and lower crude oil prices. Sadly, this is all about control and pushing the country towards Socialism. Recognize the Alynski tactics used here so that you don’t fall for them in the future as more populist flavored legislation is proposed.