wrote in message
...
| On Apr 4, 10:08 pm, wrote:
| On Fri, 4 Apr 2008 16:54:46 -0700 (PDT), wrote:
| Yeah, another urban myth resurfaces. The tankers waiting offshore
| myth was widely circulated, investigated and dismissed as nonsense 3
| decades ago. There was gas everywhere again when the Arabs lifted
| the embargo. Simple as that.
|
| ... and that happened the same day the government lifted price
| controls. The gas was here the next day. I suppose they air freighted
| it in.
|
| More nonsense. The price of gasoline shot up dramatically during the
| Arab oil embargo, while at the same time there were lines, shortages
| and rationing. I was there, I remember and it's well recorded
| history. It wasn't a price problem, it was a pure supply problem.
| The reference below does a pretty good job at explaining what
| happened. The Arabs cut off 25% of the west's oil supply and you
| attribute gas lines and shortages to a mythical fleet of tankers,
| lurking off shore? The shortages ended in the Spring of 74, when
| the Arab oil embargo ended. BTW, how big of a fleet of tankers do
| you think there is in the world, capable of holding so much oil. An
| endless supply to just store oil in? And your reference for this
| mythical fleet of tankers is?
|
| http://www.ccds.charlotte.nc.us/Hist...ton/horton.htm
|
| "In October of 1973 Middles-eastern OPEC nations stopped exports to
| the US and other western nations. They meant to punish the western
| nations that supported Israel, their foe, in the Yom Kippur War, but
| they also realized the strong influence that they had on the world
| through oil. One of the many results of the embargo was higher oil
| prices all throughout the western world, particularly in America.
|
| The immediate results of the Oil Crisis were dramatic. Prices of
| gasoline quadrupled, rising from just 25 cents to over a dollar in
| just a few months. The American Automobile Association recorded that
| up to twenty percent of the country's gas stations had no fuel one
| week during the crisis. In some places drivers were forced to wait in
| line for two to three hours to get gas (Frum, p.320). The total
| consumption of oil in the U.S. dropped twenty percent.re nonsense. "

It was a manufactured shortage. Check the re-commission permits on
decommissioned storage tanks in closed services stations. Check the jump in
the number of fuel barges build for fuel transport. Happened to be FAR
beyond the number of boats available to move them. HINT most went for dead
storage of fuel.

More than one refinery almost closed because they did not have any place
left to store the output.

Want to guess how much crude was moved from terminals in La and TX into the
Gulf of Mexico beyond the 12 mile limit and returned as 'imported oil' that
was not under price controls?