That way. . . stupid blogs like this can keep going forward.

What if someone set up a non for profit charitable foundation that anyone could call ( or have some sort of automatic arrangement) where if price competition failed to eliminate these "short term emergency monopolies" and a mark up of over say, that threshold 50% was observed, then foundation would agree to pay the difference above the short term monopoly level and keep it from going any higher.

Companies that repeatedly bleed the foundation would get bad press, the consumer would have some insulation from any short term monopoly , competition would be given first shot at solving the problem, and the supplier would have insulation from legal action against it.

I believe you missed the discussion on the effect that prices have on human behavior. When gas hit $4 a gallon at the beggining of the year, society started changing their consumption patterns. We saw the number of people traveling out of state largely decreased, as well as seeing more individuals going towards public transportation.

Do you think the individuals you listed in your example would have purchased the same quantity had prices increased drastically probably not. In terms of profiteering, there's nothing wrong with making a profit, if and when you are providing the service for which you are being paid for.

I believe Russ stated and I quote,

"Prices are rising. Just not enough."

to actually alter the demand for it (gas).

If you had read the example I gave, it displayed why high gas prices are actually more beneficial, than the current price gouging laws in place. You claim nobody read your post, but apparently you didn't read anybody elses post as well.

First, Big Oil says "all our refineries could be destroyed." Then media hype and so-called experts predict doom-and-gloom. Like frenzied sharks after blood in the water, everyone rushes to buy gas as if this is the last chance they'll get! In one article I read, a lady was filling up five cars! In another case, a man filled up his car and was filling 3 gas cans. He wasn't in a storm zone, so he didn't have any higher risk for needing a generator than the day before.

As a result, prices went up. This self-fulfilling prophecy became like chum for the gas sharks so we end up with lines and stations out of gas. There are only so many delivery trucks in an area. When excessive demand outstrips delivery capability, it's no surprise. But, that serves to ratchet up the hysteria some more.

Most areas have adequate supply of gasoline on hand. But, the hoarding over the weekend has reduced inventory. With less production capacity on line for at least several days, there will be less gasoline flowing. As a result of stupid, selfish people, a short-term price hike will be with us for a much longer time until things return to normal. Since OPEC is reducing production, we've probably been robbed of any dividend from $100/barrel crude. The price is going back up once the refineries are back on line.

I seriously doubt anti-gouging laws had much to do with pricing. Gouging requires a declared state of emergency, so that doesn't apply in most places. Initial raises were normal supply-and-demand economics. Excessive hikes and wide differences between stations in the same area suggest profiteering to me. Yes, SteveO, some people are like that.