Thursday, August 25, 2005
The state of Hawaii has set caps on the wholesale price of gas. Uh oh.
This is such a bad idea I can't imagine caps will be adopted anywhere else but if there are price caps instituted elsewhere it would cause me to change my near term, positive outlook and take a little defensive action right away.
To be clear I am saying take a little defensive action not go 60% cash.
Tinkering with market forces like this is a scary thing and I hope Hawaii reverses this quickly.
In the mean time, this is a picture from Hanalei Bay from our last trip to Kauai in 2003.
Posted by Roger Nusbaum at 10:28 AM