The House yesterday passed a bill that would make price gouging by gas stations and oil companies a federal crime as prices at the pump surpassed a 1981 record reached at the height of the Iranian oil crisis. The White House, which has threatened to veto the bill, warned the legislation amounts to price controls and would lead to gas shortages and lines like in the 1970s.
And the key sentence in the article:
Economists say the House bill will not help to ease those shortages or bring down high prices.
No, but it will make certain lefties feel warm and fuzzy that they've made a symbolic stab at the gas price situation.
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