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March 31, 2006

News o' the Dumb update

At the end of last August, I mentioned Hawaii's gasoline price controls in a News of the Dumb post (second topic). Here's an update in a report from the New York Sun:

State's Price Controls on Gasoline Are Said To Have Cost Consumers

By JOSH GERSTEIN - Staff Reporter of the Sun
March 30, 2006

Hawaii is about to scrap its effort to legislate away high gasoline prices, after the state's "gas cap" law failed to lower prices at the pump and led to claims that the regulation cost drivers tens of millions of dollars since it went into effect in September.

"It's farcical, to be honest," the president of a gas station chain on the islands, Richard Parry, said in an interview yesterday. "Everyone sort of says, 'This obviously hasn't worked.'"

H.T. to the Club for Growth blog.

Posted by joke du jour at March 31, 2006 06:32 PM

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