High Gasoline Prices Hurt the Economy

Regarding “Another Record for State’s Gas Prices,” May 11:

This continuous gouging is playing a large part in preventing an economic recovery and causing unwarranted hardship on the populace that has no defense against this monopolistic industry.

We should demand that our government establish a fair profit base for the industry and install an excess profits rule to bring this under control.

Sherman Scheff

Cathedral City

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News stories about the rising price of gas are lacking an essential element, namely the decline of the U.S. dollar against the world’s other major hard currencies such as the yen and the euro.

The dollar has declined about 25% compared with the euro since the war in Iraq began. As with any other import, we have to pay more for oil if our dollar declines against other currencies. Dollars have just become a less valuable world currency.

Richard Weinstock

Ventura

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From “PUC Promises to Keep Power Plants in Check,” May 7: “Armed with new rules, California regulators pledged Thursday to prevent power generators from creating electricity shortages and boosting prices this summer through bogus plant shutdowns, a tactic used by several companies during the energy crisis.”

Let’s get these same regulators working on gasoline prices caused by price fixing, bogus plant shutdowns and other nefarious schemes that are as crippling to California’s economy as the falsely created power shortages in previous years.

Bud Fink

Carpinteria