Recall The Untouchable Hero Of The Democrat Party

[JohnEngelman]

Yes, the Iranian Revolution triggered the 1979 oil shock. However, the gasoline lines in the U.S. were the result of a combination of global disruptions and deeply flawed domestic policies, particularly price controls, two-tier pricing system for crude oil, gasoline allocation rules, panic behavior, and a lack of flexibility in the U.S. energy infrastructure. So your statement above is only true in a narrow sense.

Without price controls gasoline would have been more expensive.

 

[Politruk]

Without price controls gasoline would have been more expensive.

The gas lines were a matter of limited supply, not pricing.

 

[JohnEngelman]

The gas lines were a matter of limited supply, not pricing.

Limited supply was the result of the Iranian Oil Boycott. This was caused by the Iranian Revolution of 1979. This in turn was caused by efforts by MI6, the CIA, and the Iranian military to return the Shah of Iran as an absolute monarch.

 

[Rightguide]

Without price controls gasoline would have been more expensive.

Sure, price controls kept gas "affordable," right up until it disappeared from the market. It’s like saying rent control keeps housing cheap: it does, for the lucky few who get it, while everyone else is left with a shortage, deteriorating supply, or nothing at all. In 1979, Americans learned the hard way that low prices mean nothing if there's no product to buy. Price controls distort the market, they discourage production, trigger hoarding, and lead to shortages and rationing.

 

[Politruk]

Sure, price controls kept gas "affordable," right up until it disappeared from the market. It’s like saying rent control keeps housing cheap: it does, for the lucky few who get it, while everyone else is left with a shortage, deteriorating supply, or nothing at all. In 1979, Americans learned the hard way that low prices mean nothing if there's no product to buy. Price controls distort the market, they discourage production, trigger hoarding, and lead to shortages and rationing.

Did that happen when Nixon imposed a 90-day price freeze?

 

[Rightguide]

Did that happen when Nixon imposed a 90-day price freeze?

Nixon was an economic dunce.

 

[eric_erosfan]

Limited supply was the result of the Iranian Oil Boycott. This was caused by the Iranian Revolution of 1979. This in turn was caused by efforts by MI6, the CIA, and the Iranian military to return the Shah of Iran as an absolute monarch.

You folks are forgetting history. The gas lines were in 1973 due to the OPEC oil embargo over the US support for Israel in the Yom Kippur War.

I remember because I was stuck with my parents in our VW Beetle.

 

[Politruk]

You have misread the times -- coyotes are folk heroes, now.

And it is the villainy of ICE that has made them so.

 

[JohnEngelman]

You folks are forgetting history. The gas lines were in 1973 due to the OPEC oil embargo over the US support for Israel in the Yom Kippur War.

I remember because I was stuck with my parents in our VW Beetle.

The gasoline line returned after the Iranian Revolution in 1979, for reasons I explained.