Odd-Even Gas Rationing Hits NYC; Only 25% of Stations Operational, Full Production Weeks Away; Why Rationing Won't Work; Insanity Over Price Gouging

Odd-Even Gas Rationing Hits NYC; Only 25% of Stations Operational, Full Production Weeks Away; Why Rationing Won't Work; Insanity Over Price Gouging

by noreply@blogger.com (Mike Mish Shedlock)

Crain's New York Business reports Mayor calls for gas rationing in NYC

Mayor Michael Bloomberg on Thursday called for gas rationing in New York City to begin Friday, saying only 25% of stations in the city were operational and that full production would not be restored for several more weeks.

Vehicles with license plates ending in an even number or zero can purchase gas on even-numbered days. Vehicles ending with odd-numbered plates can buy gas on odd-numbered days. Vehicles with licenses plates ending in a letter or other character can make purchases on odd-numbered days.

Commercial, emergency and paratransit vehicles, medical doctor plates and vehicles licensed by the Taxi and Limousine Commission are exempt.

Rationing Won't Work

Precisely what good is rationing supposed to do? Whatever the theory is, it cannot possibly work.

Overall demand for gas will not drop a bit. Instead of random queuing, we will see odd-even queuing. http://globaleconomicanalysis.blogspot.com/2012/11/odd-even-gas-rationing-hits-nyc-only-25.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29