brubl69@aol.com (Brubl69) spake unto the masses in
news:20040220224551.22628.00000098@mb-m10.aol.com:

> It seeems like everyone is predicting a gasoline shortage is going to
> become the new big national security problem. I remember the issue in
> 1974 was the Cutlass got bad mileage and had a big tank.


The political situation is not the same now as then.

In 1971, Nixon had imposed price controls at the wellhead. US wells shut
down overnight. By 1973, much of American oil came from outside US borders.
It so happened that the Arabs that ran OPEC saw an opportunity to punish
the US for its involvement in the Middle East, and they decided to turn off
the taps to raise prices.

Unless trade restrictions or price controls are imposed, or unless
environmental regulations are substantially tightened, there will be no gas
shortage.


--
TeGGeR®