Monday, October 29th, 2012

Doing a current world event with our group:

Current World Event: Gas Price Election (does government have control of gas prices, are gas prices low because of the election, and what will happen to the gas prices after the election?)

Despite what people think, the government doesn't have control of the gas prices. In 1970, the government did try to regulate gas prices, but it ended up making the market prices of gas go way above the regulated price. Nobody wanted to make any gas, because if they did, they would lose money. Then, when, the government relinquished control of the prices, they went down again.

E-mail me when people leave their comments –

You need to be a member of History 360 to add comments!

Join History 360

eXTReMe Tracker