Word: demands
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Dates: during 1970-1979
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...California drivers started at the first sign of shortage to "top off' their tanks -buy a few gallons for an already mostly full tank-and thus caused a huge surge of panic demand. Secretary of the Treasury Michael Blumenthal told Congress last week that the average California gas purchase has lately been a mere $3-barely enough to fill a quarter of the tank of a compact car at today's prices. "I've had this car washed four times in six days," reported Fred Tyler as he stood beside a dripping Mercedes 280 on Santa Monica...
Outside California, drivers so far seem to have their emotions more under control, but gasoline supplies are falling below demand in almost every state. Florida Governor Bob Graham reported last week that the summer shortage could be anywhere from 5% to 15%, depending on how much Floridians and tourists use their cars...
...this year. The cutbacks have turned last year's world oil glut into a global shortage, which the resumption of exports from Iran has not relieved. U.S. imports, which now account for half the nation's oil consumption, are running 8% below two years ago, when demand was much lower...
...concessions. The most important would have allotted ration coupons on the basis not of car ownership but of past gasoline consumption, thereby funneling more to Western and rural states. Besides, the Senate passed a resolution that the plan should go into effect only if gasoline supplies fell 20% below demand, a greater gap than anyone presently expects...
...enforcement bureaus. Assistant Attorney General John Shenefield, the antitrust chief, told the group that the public has concluded, though reluctantly, that Big Government is a necessary counterweight to Big Business. If businesses continue to concentrate and grow larger, warned Ohio Democratic Congressman John F. Seiberling, the public will increasingly demand that they be nationalized. His point: it is in business's own self-interest to support the bill...