Ballot Measure would regulate gas prices

SacBee Blogger Dan Weintraub reports that advocates for creating a commission to regulate gasoline prices have received title and summary to collect signatures to send a measure to the ballot:

The commission's job would be to keep prices "fair and reasonable" and to limit refinery profits to no more than 5 percent. So we want low prices and low profits in the oil industry. I could get into that. Sounds like a good idea. Maybe we should create a Grocery Regulatory Commission too and do the same thing for food. Oh, wait. Wal-Mart has driven prices to rock-bottom, forces its suppliers to trim profits and itself has a profit margin of less than 5 percent. All without a commission giving them marching orders. AND WE HATE THEM FOR IT! Right? Hmmm.