Word: nationalizes
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Dates: during 1970-1979
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Though the truckers vowed to starve the country into submission to achieve their demands, they so far have fallen considerably short of that goal. By and large, food has continued to roll across the nation's highways, but there have been widespread losses and threats of shortages. In California, thousands of acres of ripe lettuce and potatoes were plowed under for lack of trucks to ship them east, a loss that is calculated at $15 million to $25 million. In Florida some farmers face ruin unless 2,000 truckers can be found to ship $50 million in produce...
Under the 1973 Emergency Petroleum Allocation Act, the Department of Energy has the power to direct the distribution of gasoline supplies to the nation's 12,000 wholesalers and 225,000 retailers whenever shortages occur...
...nation is divided into five areas known as Petroleum Administration for Defense Districts (PADDS). Late each month, the oil companies estimate just how much fuel they will have available for sale in each region in the coming month. From this total supply, they subtract 5% to be set aside and distributed at the discretion of state authorities to alleviate local crises. They then subtract the amount they will require to supply all the needs of top priority customers like the military and farmers. The rest gets divided among retail gas stations...
...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, and that the nation can meet it by making some sacrifices and changes in its lifestyle, by taking some chances and paying some costs. What is needed, of course, is to lessen immediately the country's umbilical dependence on crude oil from the cartel. Slackened demand could loosen the market, make OPEC nervous...
Because nearly 40% of all oil used in the nation goes for gasoline, the first and most important step is to brake gasoline demand. Rationing would seem to be the politically expedient method. A New York Times-CBS News poll in early June found that three out of five Americans would prefer rationing to shortages and skyrocketing prices. Yet any form of rationing would tend to be inequitable and a bureaucratic nightmare. Even during World War II, when the U.S. was united as never before or since, gasoline rationing was marked by corruption, favoritism and loopholes. Today, rationing would...