On 23 Feb 2004 12:34:15 GMT, "Tegger®"
<teggeratistopdotcom@changetheobvious.invalid> wrote:

|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.

We are now competing with China on the world oil market.
China is building cars at an unprecedented rate. Something like 200,000 cars
per month (Can that be right?) We are also competing on steel, for the same
reason - building cars. Steel prices have already shot up this year.
Rex in Fort Worth