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Pastimes : All Clowns Must Be Destroyed
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To: Thomas M. who wrote (41204)6/22/2000 10:49:00 AM
From: Ilaine  Read Replies (2) of 42523
 
>>The oil price rise was due to supply/demand.<<

This doesn't make sense, except in the context of oil supply being cut off, i.g., embargoed. Prior to the embargo gas prices were in the range of 30 cents a gallon. Gas prices shot up over $1 a gallon. No offense, but you aren't old enough to remember the oil embargoes. Those of us who do remember it as being a very hard time. Imagine what would happen to Joe Six Pack if gas all of a sudden shot up to $5 a gallon. People used to drive big, heavy cars that got very bad mileage back then, too, maybe 12 miles a gallon. Honda had just started importing Civics, and they were novelties, usually the local motorcycle dealer sold them.

In Louisiana, the oil embargo was a good thing, the oil patch had boom times. It became economical again to produce oil from Louisiana oil fields.
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