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Politics : Foreign Affairs Discussion Group

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To: Karen Lawrence who wrote (36796)	8/10/2002 2:52:17 AM
From: D. Long	Read Replies (1) of 281500

Might have been $12 a barrel, can't recall. In any case, the price of gas per gallon isn't central to my argument. It is a fact, Karen, that Nixon and Carter instituted price caps on gasoline during the OPEC embargo in 73, and the crisis in 78. If "what the market could bear was charged" there wouldn't be any shortages, because the price would've risen to a point where demand dropped to meet supply. It didn't, because it couldn't, because Nixon and Carter instituted price caps. Derek

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