Hawaii, the state with the most expensive gasoline in the nation, is opting for price controls. Effective September 1 the government will cap the price of wholesale gasoline, a measure which could cause shortages, rationing, and according to some critics actually increase the retail price of gas.

Wholesale gasoline on Oahu, for example, will be limited to $2.16 per gallon for regular. If wholesalers charge the maximum price, then toss in taxes -- also the nation's highest -- as well as a typical 12-cent dealer markup, drivers could pay about $2.85 per gallon. Regular now sells for $2.76 in the Oahu city of Honolulu.

That's right taxes are also the highest, and removing them isn't even an option. Why am I not surprised?The prospect that retail gas prices could actually go up instead of down has given cap opponents an argument for blocking the law. They have asked Gov. Linda Lingle to suspend it before it takes effect. Lingle, a Republican, criticizes the measures, but has refused to block it, saying she can't unless it causes significant harm.

"At best, the gas prices will probably go up a little bit, and there will be some spot shortages," said state Sen. Sam Slom, R-Hawaii Kai.So, a few people won't be able to buy gas. The social collective will still benefit, so what if it's at the expense of the few. Just as long as you aren't one of the few.

[Big] Oil companies also hate the idea. Frequently accused of price gouging by the state's politicians, they insist that Hawaii's geographic isolation, laws governing the location of new company-owned stations and overall high costs of business inflate local gas prices.

That's just tough luck. Failed legislation must be met by more legislation not less. This is going to be interesting.