Like a lot of small-scale entrepreneurs, Cathy Osborne worries that she'll go out of business if fuel prices rise above $4 a gallon. Not because she won't be able to buy gas at that price, but because she won't be able to sell it.
The old mechanical gas pumps with scrolling dials at her country store in Fauquier County lack the gears to go beyond $3.99 a gallon. State inspectors shut down her diesel pump several months ago when the fuel topped the $4 mark, so now all that's left are two pumps dispensing 87-octane gasoline, set at $3.75 -- and climbing.
"I don't know what I'm going to do. I don't have $30,000 to invest in new pumps, and I'm barely skipping by,"
from the Washington Post
Economics, as a branch of the more general theory of human action, deals with all human action, i.e., with mans purposive aiming at the attainment of ends chosen, whatever these ends may be.--Ludwig von Mises
Monday, May 19, 2008
Mechanical Gas Pumps
Labels:
inflation
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