Profiting From Tragedy.....Are We A Failed Society

[MsJay9]

This is a bunch of my Random thoughts......But as I was watching the coverage of the tragedies in New Orleans and Mississippi and the different ways that stations were potraying what was going on I began to wonder if our society has become a place that money and profit are what's most important no matter what.  I heard that hotels are jacking up prices b/c they know people have to stay somewhere and gas prices are shooting through the roof for every single thing that has happened in the last two years.  I mean it is above $3.09 in some places.  Am I the only person that feels as though our society is really failing. 

[F05HOPEFUL]

Not sure about the hotels, but the gas prices are due to a shortage.  A major pipeline for fuel in the southeast derives from offshore rigs in LA and MS, which were destroyed by Katrina.

There is now a gas shortage.  While it's doubtful that we will run out of gas reserves, the President has authorized the use of our emergency reserves.  Thus an intro economics course will tell you that Supply will shift leftward, raise prices and decrease quantity supplied.  A good effect out of this will be a reduced quantity demanded, which will in time lead to balancing prices.

[lex19]

it's crazy, a news report last night said that atlanta will run out of gas today.....prices in my area went from 2.97 yesterday to 3.17 today

[Casper]

Just watch James Cramer on Mad Money, He'll tell you how you can profit from this also.   

[1lwhit]

My area...

Tues night -- 2.79
Weds morning -- 2.99
Weds night -- 3.19

[_BP_]

Just watch James Cramer on Mad Money, He'll tell you how you can profit from this also.   

Messed up but True.  Cramer is the man though.

[angmill08]

I think any hotel price gouging is terrible and that really is taking advantage of others' misfortune. But gas prices, I don't know. They are volatile, they shift every day due to supply and demand. We all know this. How can anyone expect them to stay low, when the international news reports oil reserves peaking, relationships with oil-producing nations being strained, hidden costs of consumption (pollution) becoming more visible? I don't think that seeing a spike in prices of a volatile and supply-sensitive good counts as "price gouging." Would you prefer that the gov't step in and ration cheap gas?

I guess also I am just not too sympathetic to price increases on gas because as I see it, so much of US gasoline consumption is unnecessary. Most people could make some lifestyle adjustments and cut back on driving dramatically. If they choose not too, fine, but they should have to pay for that luxury.

[jacy85]

it's crazy, a news report last night said that atlanta will run out of gas today.....prices in my area went from 2.97 yesterday to 3.17 today

And this ridiculous rumor was what led to the crazy gas panic last night.  Atlanta is not going to run out of gas today.  The retailers certainly took advantage of the panic yesterday, however, and prices temporarily shot up to over $5/gal in some areas here.

[lex19]

well you tell cnn that 

it's crazy, a news report last night said that atlanta will run out of gas today.....prices in my area went from 2.97 yesterday to 3.17 today

And this ridiculous rumor was what led to the crazy gas panic last night.  Atlanta is not going to run out of gas today.  The retailers certainly took advantage of the panic yesterday, however, and prices temporarily shot up to over $5/gal in some areas here.

[InVinoVeritas]

it's crazy, a news report last night said that atlanta will run out of gas today.....prices in my area went from 2.97 yesterday to 3.17 today

And this ridiculous rumor was what led to the crazy gas panic last night. Atlanta is not going to run out of gas today. The retailers certainly took advantage of the panic yesterday, however, and prices temporarily shot up to over $5/gal in some areas here.

$5/gallon!  holy cow.