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Despite record gas prices,how comw we haven't seen long lines for gas like it was back in the 1970's? |
Despite record gas prices,how comw we haven't seen long lines for gas like it was back in the 1970's? Back in the 70's when they had that phoney shortage , the price wasn't the problem. It was being called a shortage and they didn't have it in the gas stations. I seen them dumping it in station tanks that were closed up. It was sitting in trucks that were parked. Ships were lined up trying to off load. There was an oil embargo back in the 70s around 1972 causing a supply shock. This has been a more gradual rise because of higher demand due to stronger economies and the developing markets consumer & businesses modernizing. Oil was supposedly in short supply in the 70s (it wasn't, even with the so-called embargo), so stations were rationing gas and people were panic buying. The U.S. government rationed gasoline in the late1970's. You could only buy it on certain days. It depended on the last digit of your license plate number. I've seen the long lines for gas lately when it's cheaper, where have you been? |
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