Word: embargos
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Dates: during 1970-1979
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...choked freeways, parkways, beltways, highways and byways might have guessed, more than half the gasoline consumed in the world is consumed in the U.S. That statistic implies a profligacy that might be expected to give Americans pause. But with the recession receding and the 1973 Arab oil embargo a dimming memory, Americans appear to be pausing not at all. The Federal Energy Administration noted last week that gasoline currently is being guzzled at a pace that seems certain to drown all previous records...
...repeal of the bill and an end to all price controls so that the U.S. would produce more oil and rely less on imports from the Middle East. "How many Texans will lose their jobs?" he demanded. "How many Texas plants will be closed during the next oil embargo?" In the oil-rich Panhandle, some producers felt betrayed by the President. "We thought Ford said he would veto the bill," complained an oil operator. "So a lot of us contracted for rigs, paid bonuses, leased land, and were ready to go. We had bet on him and we lost...
...spectrum for the noncommercial use of ordinary citizens such as hunters, boaters, construction teams and farmers ranging far from homes and telephones. The first CB license was not granted until 1947. In the next quar ter-century, only 850,000 CB licenses were issued. Then came the 1973 oil embargo, speed limits were dropped to 55 m.p.h. ("double nickel" in CB argot) and truck drivers installed the units to warn each other of lurking cops ("smokey bears") and radar cars ("Kojak with a Kodak"). Television news picked up the story, and the rest is hysteria...
...sales are not coming where Detroit's automakers had expected. For all the stress on fuel economy and thinking small that followed the 1973 Middle East oil embargo, the public is now largely spurning the industry's tiniest models. Instead, motorists are buying larger, somewhat gas-thirstier compacts and intermediates that offer a bit more leg room, somewhat more trunk space and in some cases even a touch of high style...
...pump prices of more than 50? per gal., and is willing to spend a bit more for a larger car. In any case, the decline of the subcompacts, which usually carry sticker prices of $2,900 to $3,400, is striking: from 10% of the market just after the embargo to 7.7% now. While inventories of most other cars are sufficient to supply only 60 days of sales, dealers have a 100-day supply of Ford Pintos and even bigger pile-ups of Chevy Vegas...