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Editorials - Opinion
Friday, September 02, 2005 - Last Updated: 7:14 AM 

Don't panic over gas shortage

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Gas prices already had risen by stunning amounts this summer before Hurricane Katrina sent them soaring further upward this week. But record prices, long lines and the lack of regular unleaded at numerous stations are prompting understandable concerns in and beyond our state. Those factors also fuel the temptation to top off tanks and fill separate containers before the price rises again -- or the gas runs out. Try to resist it.

Gov. Mark Sanford cautioned against such self-defeating purchases Thursday, explaining that they will only intensify the shortages and price surges caused by Katrina. The governor said: "I ask that South Carolinians be conservative in how much fuel they use in the next couple of weeks. One thing we need to guard against is panic buying. It exacerbates the problem."

President Bush echoed that plea Thursday, urging Americans: "Don't buy gas itf you don't need it."

The president had acted wisely Wednesday in releasing oil from the U.S. Strategic Petroleum Reserve, a vital safeguard that, when utilized prudently, offsets oil shortages created by supply disruptions. One effect of the catastrophic Hurricane Katrina has been a severe limitation on oil shipments to Gulf Coast refineries, and in turn, gas shipments to many states, including this one. These developments triggered not just higher gas prices, but intensified supply shortages that necessitated the administration's move on SPR.

The Bush administration also, on a temporary basis, waived the prohibition against foreign ships transporting U.S. fuel to U.S. ports; allowed the sale of a higher-polluting gasoline in Alabama, Florida, Louisiana and Mississippi because those states are, at this point, unable to provide enough fuel that meets Clean Air Act requirements; and eased diesel fuel sulfur and gasoline-evaporation regulations.

Again, these are emergency steps forced by natural-disaster circumstances, not federal attempts to limit gas costs. Gulf Coast refineries still in operation can now borrow the SPR crude needed to produce gasoline. But with pipelines still not operating at full capacity, delivery difficulties are expected to continue over the next two weeks.

Meanwhile, South Carolina Attorney General Henry McMaster rightly warned that his office will prosecute "any willful criminal conduct" related to the gas shortage, including price gouging. Georgia Gov. Sonny Perdue signed an executive order against such profiteering Wednesday after the price at some Peach State pumps hit $6 per gallon.

That doesn't mean government can save us from rising gas costs. "Caps" on prices would inevitably cap gas supply.

Though Katrina is a driving force behind the current gas shortage and price climb, supply problems existed before that storm struck. Nearly three decades have passed since the last oil refinery was built in this nation. The energy bill passed by Congress last month addresses that need.

The demand side of the equation also plays a major role in high gas prices. Americans can, and must, be more efficient in their use of energy.

And while the current disruption in gas supply imposes significant costs and inconvenience on South Carolinians, we should remember that this problem is minor compared to the horrendous plight of our fellow Americans on the Gulf Coast.