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

To: D. Long who wrote (36802)	8/10/2002 4:13:47 AM
From: SirRealist	Read Replies (2) \| Respond to of 281500

The oil embargo? buyandhold.com This page provides a timeline: commhealth.ihpr.ubc.ca And speaking of economics, OPEC undercut themselves: gamla.org.il maguireenergy.cox.smu.edu Another economic view from the industry perspective: wtrg.com ksgnotes1.harvard.edu industryweek.com Prices and CA: eia.doe.gov And though I recall both embargoes, I don't recall Carter instituting price caps. He just inherited them and ended them in 78: isgs.uiuc.edu Another angle: libertyhaven.com How it impacts policy today: cdi.org

To: D. Long who wrote (36802)	8/10/2002 1:43:32 PM
From: Karen Lawrence	Read Replies (1) \| Respond to of 281500

NO stalemate, Derek, your sentences contain patent errors: You write: "because the government was forcing them (oil companies) to sell gas far below the price of gas..." OPEC, not the US, decided pricing. THe Organization of Petroleum Exporting Countries, was formed in 1973 to control world oil prices. During the embargo/"shortage" gas prices quadrupled at the pump(from 30 cents to over a dollar), NOT as you assert: "gas prices were far below the price of gas". You wrote "After the '78 shortage, there was extensive legislation passed ramping up alternative...", NO. The '73 crisis brought immediate changes to Detroit and car manufacturing and as well as action from the WH. Nixon called for folks to conserve, and we did. In addition to odd/even day only gas purchase restrictions, stations were closed Sundays. This went on for months, when restrictions were lifted until the '78 "shortage", which was relatively short-lived. Twice you claim gas cost $12/gal in '73. Your quote: "might have been $12 per gallon, I can't recall" According to your profile you weren't born until the following year, 1974. I should have looked sooner. "sigh" I lived through those times and changes and remember them. There should be a ton of information online if you look. You can also find contemporaneous accounts at the library in newspaper and magazine archives.