General Category > Economy/Business
Shale Drillers Are Outspending the World With $84 Billion Spree
thackney:
--- Quote from: Frank Cannon on May 10, 2017, 07:34:49 pm ---Silly me. My memories tell me it had to do with the Rag Heads instituting an embargo because we backed Israel in a war.
--- End quote ---
That was the excuse used to put price controls and other regulations in place. In reality, the embargo was mostly talk while the US government tried to force market changes by policy mandates.
How gas price controls sparked ‘70s shortages
http://www.washingtontimes.com/news/2006/may/15/20060515-122820-6110r/
Suppressed:
--- Quote from: thackney on May 10, 2017, 08:22:21 pm ---That was the excuse used to put price controls and other regulations in place. In reality, the embargo was mostly talk while the US government tried to force market changes by policy mandates.
How gas price controls sparked ‘70s shortages
http://www.washingtontimes.com/news/2006/may/15/20060515-122820-6110r/
--- End quote ---
From your source:
--- Quote ---The controls were put in place by the Nixon and Ford administrations in reaction to a jump in fuel prices caused by cuts in production by the newly formed international oil cartel, the Organization of Petroleum Exporting Countries.
--- End quote ---
@thackney @Frank Cannon
Frank Cannon:
--- Quote from: Suppressed on May 10, 2017, 11:25:37 pm ---From your source:
@thackney @Frank Cannon
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Ah geez. Now I'm confused. I need to stop huffing spray paint for lunch.
@Suppressed @thackney
Suppressed:
--- Quote from: Frank Cannon on May 11, 2017, 12:16:03 am ---Ah geez. Now I'm confused. I need to stop huffing spray paint for lunch.
@Suppressed @thackney
--- End quote ---
Well, unless there's retrocausality...
@Frank Cannon
InHeavenThereIsNoBeer:
--- Quote from: Suppressed on May 10, 2017, 11:25:37 pm ---From your source:
@thackney @Frank Cannon
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Pretty much the only sentence in the article which could be chosen to even attempt to refute thackney's point that the MAIN cause of the gas lines was not the embargo, but the reaction of our expert Washington lawyers. Here's another sentence (the next one), for example:
--- Quote ---Back then, “price controls turned a minor adjustment into a major shortage,” said Thomas Sowell, author of “Basic Economics: A Citizen’s Guide to the Economy.”
--- End quote ---
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