It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
originally posted by: Fallingdown
I thought about doing a thread on the 1979 oil Panic .
Because the potential disruption from the Iranian attack was about the same amount as when production fell because of the Iranian revolution ( 7% ) .
Apparently the world learned a lesson from that incident because this time we didn’t overreact .
So I decided not to panic either . Lol
Don’t panic but keep your towel nearby
originally posted by: toysforadults
I lost a # ton of money on oil this week cause I took out options and was working a ticket when the SA "well be back online" (but not really) news article came out and killed my call options trades
I made about half of it back today but #
originally posted by: Gothmog
originally posted by: Fallingdown
I thought about doing a thread on the 1979 oil Panic .
Because the potential disruption from the Iranian attack was about the same amount as when production fell because of the Iranian revolution ( 7% ) .
Apparently the world learned a lesson from that incident because this time we didn’t overreact .
So I decided not to panic either . Lol
Don’t panic but keep your towel nearby
Uhhh
The 1979 gas panic was caused by Jimmy Carter removing the ceiling on Federal Gas Taxes , removing pricing regulations at State and Local levels , etc.
Only affected Cali for the most part.
The major reason for gas prices today.
And I was there .
Buying gas.
Peace out
The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. ... By the end of the embargo in March 1974, the price of oil had risen nearly 400%, from US$3 per barrel to nearly $12 globally; US prices were significantly higher.
originally posted by: tulsi
www.upi.com...
A swarm of drones supposedly 'crippled' Saudi oil just a month after US expanded its bases and troops in SA.
While just days ago many experts doubted crude oil would ever hit $100/barrel, it already has.
How convenient. More doom and gloom, this time all because of Iran. Tsk tsk, what to do?
The Jimmy Carter administration began a phased deregulation of oil prices on April 5, 1979,
originally posted by: dogstar23
a reply to: Gothmog
Maybe CA was worse than other states? In Illinois, there were long lines at the pumps, and people were trying to steal other people's gas. Twice, my dad had to run out of the house with a baseball bat to chase siphoners away. I know it was much the same in a lot of other states, as I've heard similar stories from friends in OH, WI, IN, PA, NY & NJ.
originally posted by: RadioRobert
originally posted by: xuenchen
Oil is around $60 +- $2
Last week it was about $5 less
😎 🤓
Bots don't care about your facts!