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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (329988)	3/28/2007 8:15:25 PM
From: TimF	Read Replies (1) \| Respond to of 1575761

You may have missed the gas lines in the 70's. And that was when we produced 70% of our oil. No I didn't miss those lines. I didn't have a car or buy gas then but I was around to see them. I was assuming no price controls. If you want to avoid the "higher prices for all of them" I was talking about by imposing price controls then you will get the gas lines again. A serious disruption in supply and there would be rationing. If your job wasn't critical... no gas. We would have to decide, move food or move the military. Imagine just a 25% reduction in supply... what kind of catastrophe would that cause in a JIT economy? You don't need rationing for a 25% reduction in supply. Just a large price increase. Well technically it could be considered rationing by price, but you don't need government gas coupons. You wouldn't have to decide "move the food" or "move the military" (and you wouldn't even with explicit rationing), you would just have to pay maybe $10 a gallon short term (declining as people adjust, but remaining well above the current price) to move the food or move the military or move anything else using gasoline or diesel.