Blogs > Frye on the News

Keeping his eye on the news and offering commentaries and insights on what is happening in Oakland County, around the world, on the tube and in the news.

Friday, May 23, 2008

No wonder gas prices are so high

Though it is natural to let markets dictate prices, the government
has some interest in ensuring that a sudden change in pricing does
not slow the nation's economy.
The recent spike in gas prices is proving an interesting case study,
and with some predictions of much higher prices in the near future —
County Executive L. Brooks Patterson tossed $12-a-gallon prediction
from at least one analyst out recently as he touted a 4-day work week
— I wonder if the government could actually do anything.
Earlier this week, the House passed a special resolution honoring
Frank Sinatra with a day declared for him — May 13, The Associated
Press reported.
Of course, they got around to this on May 20, a week after the
special day had passed.
Nonetheless, it passed 402-3.
Even though gas prices are already skyrocketing, hopefully our
leaders can organize similar unity in finding some kind or relief or
solution to something that many fear could drag this nation's economy
deeper into its slump.


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