oldngray
nowhere special
The embargo in early 1970's limited supply and had rationing and lines at pumps instead of price gouging.
Gas Prices
- Thread starter moreluck
- Start date
The embargo in early 1970's limited supply and had rationing and lines at pumps instead of price gouging.
Brownslave688
You want a toe? I can get you a toe.
I thought gas hit $2 or so in the late 70's? I was not alive so not sure. I just know when you involve inflation those are the highest prices we have ever seen.
Z
ZQXC
Guest
And before anyone blames Jimmy Carter for the oil embargo, heres a free history lesson. President NIXON and Henry Kissenger were responsible for the oil crash/stock market crash of 1973/74.
http://en.wikipedia.org/wiki/1973_oil_crisis
TOS.
http://en.wikipedia.org/wiki/1973_oil_crisis
TOS.
wkmac
Well-Known Member
At this moment, sure. The question however, are the prices natural or are they manipulated? And that opens up a whole other can of worms.
Brownslave688
You want a toe? I can get you a toe.
And the one in 79?
Babagounj
Strength through joy
Cars back then had an average lifespan of 85,000 miles .Remember it all to well
[URL='http://www.answers.com/topic/carburetor'][/URL]
Tetraethyllead , carburetors , spark plugs lasting only 10,000 -15,000 miles , points , timing , a tune-up . A guy roaming parking lots claiming he could fix your dents for very little money .
Oregon gasoline dealers displayed signs explaining the flag policy in the winter of 1973–74
Babagounj
Strength through joy
Had something to do with the Iranian Revolution . Production was slightly off , but mostly fear ran the show .
Brownslave688
You want a toe? I can get you a toe.
My best friend just traded in his Tahoe for a Sonota about 3-4 months ago. Just a few days ago he was like man I wish I hadn't traded that in. SMH.
but then not many people buy a large suv after having one kid then trade it in for a smaller car after their second.
Z
ZQXC
Guest
Oregon gasoline dealers displayed signs explaining the flag policy in the winter of 1973–74
In my area, you could only buy gas on an odd or even day, matching the last number of your tag. You had to have less than half a tank to buy, no topping off.
Same consequence.
The damage done to oil began with Nixon, Carter took action to expand US oil markets and failed, Reagan came in a ruined it completely and the results of Reagans actions are being felt today.
TOS.
This is the point. Of course they are manipulated and not consumer driven.
There is nothing natural about the trading practices of the commodities market. The oil producers and drillers influence what happens to oil.
They cut supply/production when they want to cash out driving up the prices of oil. They hold it high until they make the profits they seek, then they increase production and bring prices down long enough for consumers to shut up.
There is and has been plenty of oil, and these "shortages" as BUSH told us about were all PHONEY.
That "supply vs demand" baloney is simply an excuse to fool consumers.
All you have to do is listen to the oil big wigs right now. All they are talking about is CUTTING production and shutting off wells to bring down supply and increase the price per barrel based on that supply.
TOS.
oldngray
nowhere special
What was the car that had the ad about it was the only one that could get you there (across the desert) on a tank of gas? Because they put a 20 gallon tank in a small car and gave it a range of over 500 miles.
wkmac
Well-Known Member
IMO, yes there is a hand in that too. The US and especially its economy does not turn on a dime as no big ship does either. Even when a new President is elected, his/her first year is not under their own budget but rather the budget set by the previous President. To put in the current context, Obama's first budget as President that was his own was for fiscal year 2010' as the 2009' budget was all Bush and the 2008' Congress. All budgets are set in the previous year just as Obama and the 2016' Congress will set the budget for 2017' which is the first year of the next President. Keep that in mind going in the next election cycle when you hear the political spin being circulated by both sides.
When you study the functions of State and policy, these tend to not be based on year to year but rather much longer term, mostly in 5 or 10 year visions. Now a President can tweak a policy or even make large policy changes and re-direct policy focus but actions on the ground over time don't relate or move in the same manner (speed) as spin to the public does. The narrative is always well ahead of results, positive or negative.
Anytime a policy change occurs, it can take a couple of years to impact to full effect. Case in point would be Reagan who had his first budget in fiscal year 82' and regardless what one thinks of Reagan, the economy stumbled along almost to the 84' election before it really turned the corner so to speak. Reagan could have rightly blamed Carter but in so doing he would be blaming himself as he (Reagan) embraced a very important Carter policy which I'll explain below.
So in respect to Carter, he was not only a victim of himself to some degree but also as result the entire Nixon/Ford era. No matter who got elected in 76', there was going to be rough times. Carter even had the courage to take a radical direction in the economy by embracing deregulation.
To make the point even further, Reagan is often credited with deregulation but it actually began under Carter. Ironic that Reagan became infamous as the great deregulator but then that is what actors do.
But then it's not like democrats want to wear this mantle so you could argue Reagan came about this honestly if not by default.Carter choosing to deregulate turned a long establish economic way on it's head and it created an economic reaction as the economy had to shift to a new policy paradigm. Carter was just unable to sell the long term vision and voters turned to Reagan instead. Reagan just picked up that policy, made it his own and most people outside of policy history accept as fact that Reagan deregulated the economy.
wkmac
Well-Known Member
Tell me about it.
