So, I've been getting quite a few incredulous, scornful, and even insulting emails from folks who object to the idea that prices should be allowed to rise to "solve" the gas problems in the northeastern U.S. The majority of my argument has been to claim that price will (1) induce people to buy less, thereby leaving some for everyone else, instead of the first few people in line getting all of it at an artificially low price; and (2) induce other people to find ways to supply more, by renting generators and rushing gas to the stricken area.
Obviously, I think this argument is persuasive, and even sufficient.
Suppose, though, that you aren't convinced. And a lot of you aren't convinced (I'm thinking of YOU, Hutter!) Let's do this your way.
More after the jump...