Political Quotes

“I do respect my colleagues from California. We have had a lot of differences in agreement this year. The statement was made, the only place you can address prices is here. That is the difference in ideology. The market sets the prices. Basically the higher the supply, the lower the cost; the lower the supply, the higher the cost. When you have high prices and you do not want to pay those prices, guess what? You consume less. When you consume less, there is a higher supply. Guess what? Prices go down. It is basic economics 101, which we wish our colleagues would really end up learning. One of the reasons why California has been successful is because high prices have forced people to consume less. Conservation is a result of these high prices. The market does work. How do you get to the quickest, more functioning market? You let the market work. If you intervene in the market, as the Governor of California has done, guess what? The market does not stabilize, it does not get fixed. Market manipulation by government is designed to fail. This amendment is designed to prolong the agony of California. It is ill-conceived. I do applaud my colleagues for their attempt, and have encouragement for them, but for the betterment of the country, we have to understand, in the market, basic supply and demand rules, and this is an ill-conceived amendment.”