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Obama is wrong about the gas tax
Think Clinton's plan to suspend the gas tax temporarily is a bad idea? A similar measure in Illinois -- which Obama backed -- seems to have helped consumers.
By George Frost [2008-05-06]

  • Price Elasticity

    Way back in the early 70's, just before the first gas crisis, I worked for a company that did a "Price Elasticity Study" for a major oil company.

    The company arbitrarily raised gasoline prices by 5, 10, 15 cents per gallon at various stations.

    The upshot was that sales didn't vary very much. About 90 days later we had the first oil crisis.... I guess it was just a coincidence...

    Want to by some swamp land?

    -- dhdOWNEY
    [Read dhdOWNEY's other letters]
    Monday, May 5, 2008 06:53 PM
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