Word: ifs
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Dates: during 1970-1979
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Price gouging can be punished by a fine of $10,000. A retailer in Boston who charged $1.57 for unleaded was hit with a civil suit by federal officials; a U.S. District Court ordered him to roll the price back 70?. Despite such actions, however, black marketeers vastly outnumber DOE...
If a driver in New York City has to wait in line for hours to buy a few gallons of gas, why is there plenty available for a driver in, say, What Cheer, Iowa? The answer lies in some complicated federal regulations that were originally designed, oddly enough, to prevent...
It seems simple so far, but the rules require 400 pages of DOE instructions. Allocations are expressed not in gallons but as a percentage of what each individual customer, wholesaler and retailer, received in a given base period. What base period? Well, it can differ from customer to customer. The...
The program has been altered since the shortages began to get bad-the state set-aside was boosted from 3% to 5% so that spot shortages could be eased, and the five-month-average base was introduced in an effort to deal with seasonal population shifts-but the problems have...
Can anything be done to break the tyranny of the toughest cartel in history, to prevent oil shortages and price gouging? The answer is yes-if. If the U.S. is ready. At last, the jarring events of the past few weeks have probably persuaded Americans that the crisis is real...