Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

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

To: Karen Lawrence who wrote (36796)	8/10/2002 3:20:13 AM
From: D. Long	Read Replies (2) \| Respond to of 281500

Here's another link that briefly mentions the price controls. Since there is a frustrating lack of history on the 70's oil crises on the web apparently, we're just gonna have to agree to disagree. I can't make my point, I don't agree with yours, can't drudge up something to support mine. Stalemate. ::sigh:: Derek industryweek.com ------------------------------------------------------------ The event was the 1973-74 Arab oil embargo. It began 25 years ago last month. In the U.S., motorists could buy gasoline only on alternate days [ie. RATIONING - Derek], were forced to wait in lines that often were blocks long, and then paid as much as $4 a gallon in today's dollars. Companies often had to limit -- or even shut down -- production because they couldn't get fuel through the federal government's hastily conceived allocation and price-control system.