Kentucky Governor Steve Beshear has declared an emergency over the price of gasoline. The action comes at the behest of our wonderful Attorney General, Jack Conway. The law that this action was taken under allows the governor to declare an emergency when the price for a product is "grossly in excess of the price prior to the declaration [whatever the heck that means] and unrelated to any increased cost to the seller."
In other words, the market laws of supply and demand take a back seat to politicians who want to grandstand. Thankfully, Beshear will never actually do anything, since this little declaration allows him to look like a populist without actually doing anything. But that's less harmful than if he actually did prosecute any cases because, if the government actually did do something.
This is a stupid law, designed only to allow Democratic politicians to demagogue economic issues.
Oh, and by the way, why is it that liberals are in favor of allowing "consenting adults" to engage in any sort of social behavior that violates traditional morality, but are against letting consenting adults make economic decisions like whether they want to buy and sell gasoline at whatever price they agree to?