Do U expect to have 1970's style oil shortages any time soon?

Question

What I'm trying to ask is; will the long lines to the gas pump going to return real soon and end up having gaoline rations, and even also to only to be able to buy gas on odd or even days. I believe it may happen even sometime this year

Answer 1

I remember the gas crisis as a young young grrl.. You could only get gas according to your license plate # like odd numbers  certain days then the other days even numbers.. But my dad was smart!! Both his cars had odd and even # plates and he would just switch the plates!!

Look at the situation this way, when you work and commute to get there and gas is a need, you need to do what you NEED to to continue supporting the family!!

Answer 2

Nope, because the exodus of the bush admin is only a short time away.

Answer 3

Probably not this year, but maybe next year we will:

http://www.greencarcongress.com/2007/03/...

With rising demand and falling supply, not only will prices rise, but there will be outages.  

Sell that SUV soon!

Answer 4

Only if we get into a war with Iran and I don't really think that can happen.  We don't have the troops for it nor the patience after the Iraq War.

Answer 5

It is a possibility. If for some reason we were to have a conflict with Iran. A shortage would be guaranteed. Any more disruption in the middle east (we never did buy alot of oil from Iraq so they don't count) or in the perisan gulf. Shortages will come. With Venezuela being run by Chavez we can expect no help with any shortage.

Answer 6

There were actually no shortages of oil in the 1970's.  What actually happened was that misguided government programs disrupted the market place and led to improper distribution of refined products.  While I was waiting in line for over an hour in Houston, friends of mine in Kansas were being treated to gasoline price wars as retailers tried to move the surplus fuel that they had been allocated.  It was, of course, a federal crime to send any of this surplus fuel to Houston.

This is a perfect example of why governments should never be allowed to go anywhere near the market place.  They will always, repeat always, make things worse.

Answer 7

It might be possible, but I wouldn't think so. There are 10 times more known oil reserves now than in the 1970's, plus cars are more fuel efficient than back then.

The only concern would be the refining capabilities, as they haven't built any new ones in 30 years.  However, the reason gas prices are so high now is because two of the larger ones are having production problems (one in IN, the other in LA I think).

Answer 8

I don't believe it would get that bad again but getting hurt or killed over the gas pump could happen.

We have got to find better ways to get around. Use mass transit or car pool. Get a job closer to home or walk to work if possible. We all have to do our part to conserve while the powers that be find a better alternative to gas/oil.

Answer 9

It is to the point now where people aren't going to buy gas as much as they do.  More carpooling, and more bicycles are going to be on the roads soon.  Gradually throughout the summer, demand for oil will lessen, and the price will go down.

Answer 10

That happen on the Gulf coast after Katrina and it is a good possibly it might happen nation wide soon also.

Answer 11

I don't think so.  We are too d**n stubborn for that this time.  I believe Americans will pay whatever it takes to keep the cars going until we all max out our credit cards and go bankrupt.  I would bet it could reach as high as $5.50 a gallon for a year before you would see a drastic change.  If you can, I would invest in a car that gets great mileage or you are going to be hurting.

Answer 12

No. There is plenty of oil. The question is at what price do you want to pay for it. As prices increase, marginal producers will open up the spigots, marginal refiners will ship their products to higher demand markets, and people will use less energy because they can't afford not to.

As long as the government doesn't get into the game of price controls, we will be fine.