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

To: Bilow who wrote (135004)	5/30/2004 7:33:14 PM
From: dumbmoney	Respond to of 281500

Instead, as before, we'll have some combination of rationing and high prices. Rationing? Good lord, spare us a repeat of that folly. Nixon is safely in the grave, isn't he?

To: Bilow who wrote (135004)	5/30/2004 7:46:03 PM
From: quehubo	Read Replies (2) \| Respond to of 281500

Bilow, you do not understand the situation at all. Their was a massive amount of excess supply in the 1970's. All OPEC did was throttle the valve for as long as they could hld their breath. Today their is no excess supply whatsoever regardless of the 1-2% the media rests its hopes on. When Islamofascists make a significant successful strike on oil exports their will be a physical shortage that may take many quarters to restore, not days. The rationing will be high prices not the disaster the government caused. The economic dislocation will be as severe as the price shocks sent by OPEC through the 1970's. This time we have no way out other than fighting. in the 1970's we still had Alaska and the North Sea. The military can be much bigger, after a large strike on oil supplies the people of many countries will be more than adequately motivated to do what is needed to protect oil supplies.