Lingle's Jingle: Scrap the Cap
Less than five months into Hawaii's experiment with a gas cap, Hawaii Gov. Linda Lingle wants to repeal the price-setting measure. The cap was put ...
Less than five months into Hawaii's experiment with a gas cap, Hawaii Gov. Linda Lingle wants to repeal the price-setting measure.
The cap was put in place in September in order to make gas prices in Hawaii mirror those on the Mainland. And, although it's created some interesting behavior in the state, the cap has largely acheived its goal.
But now Lingle wants to lift it.
The Republican governor says the cap was a decent idea, but it has kept the state from dealing with its real problems:
"While the gas cap law was well-intentioned, it has become the de-facto energy policy of the state. It has focused attention and government resources away from the state's actual energy problem, which is an overdependence on the use of oil."
She may be right, but opposition from the Democratic-led legislature means the cap is probably here to stay. One thing Lingle and the legislature do seem to agree on is the need for more transparency from oil companies about price-setting. Which will the oil companies hate more?