Comments on: Quote Of The Day http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/ Sun, 12 Feb 2012 06:51:03 +0000 http://wordpress.org/?v=2.3.2 By: Melinda http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78324 Melinda Thu, 22 Dec 2005 22:09:48 +0000 http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78324 Williams says it well. I believe this is why we don't get a decent economics education in state-run schools. Williams says it well. I believe this is why we don’t get a decent economics education in state-run schools.

]]> By: ReneB http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78210 ReneB Wed, 21 Dec 2005 21:11:23 +0000 http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78210 Your right, he imposed them a short while after Iran fell to Khomeini and supply of oil dropped 4%. Carter was still against price controls "More importantly, Carter, as part of his administration's efforts at deregulation, proposed removing price controls that had been imposed in the administration of Richard Nixon during the 1973 energy crisis. Congress agreed to remove price controls in phases; they were finally dismantled in 1981 under Ronald Reagan." Nixons price controls continued until 1981. Your right, he imposed them a short while after Iran fell to Khomeini and supply of oil dropped 4%. Carter was still against price controls “More importantly, Carter, as part of his administration’s efforts at deregulation, proposed removing price controls that had been imposed in the administration of Richard Nixon during the 1973 energy crisis. Congress agreed to remove price controls in phases; they were finally dismantled in 1981 under Ronald Reagan.” Nixons price controls continued until 1981.

]]> By: HispanicPundit http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78207 HispanicPundit Wed, 21 Dec 2005 20:39:28 +0000 http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78207 On second thought, it seems that we were both right, <a href="http://en.wikipedia.org/wiki/1979_energy_crisis" rel="nofollow">according to Wiki</a>: <blockquote>In the United States, the Carter administration instituted price controls. This resulted in long lines appearing at the gas stations as they had six years earlier. As the average vehicle of the time consumed between 2-3 liters of gas an hour while idling, it was estimated at the time that Americans wasted up to 150,000 barrels of oil per day idling their engines in the lines at gas stations.</blockquote> On second thought, it seems that we were both right, according to Wiki:

In the United States, the Carter administration instituted price controls. This resulted in long lines appearing at the gas stations as they had six years earlier. As the average vehicle of the time consumed between 2-3 liters of gas an hour while idling, it was estimated at the time that Americans wasted up to 150,000 barrels of oil per day idling their engines in the lines at gas stations.

]]> By: HispanicPundit http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78206 HispanicPundit Wed, 21 Dec 2005 20:36:17 +0000 http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78206 Wow, you learn something new everyday, and here I was thinking it was during the Carter administration this whole time. One of the many downfalls of being born after the Nixon administration, I guess. Thanks for the info!!! Wow, you learn something new everyday, and here I was thinking it was during the Carter administration this whole time. One of the many downfalls of being born after the Nixon administration, I guess. Thanks for the info!!!

]]> By: ReneB http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78200 ReneB Wed, 21 Dec 2005 18:03:02 +0000 http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78200 Heres Chronology of world oil markets 1970-and on, the shortages and long lines were indeed during Nixon administration at the height of Watergate, Embargo ended on March 18, 1974. 1974 being year which Gerald Ford assumes the presidency. http://www.eia.doe.gov/emeu/cabs/chron.html#a1979 Heres Chronology of world oil markets 1970-and on, the shortages and long lines were indeed during Nixon administration at the height of Watergate, Embargo ended on March 18, 1974. 1974 being year which Gerald Ford assumes the presidency.

http://www.eia.doe.gov/emeu/cabs/chron.html#a1979

]]> By: HispanicPundit http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78195 HispanicPundit Wed, 21 Dec 2005 17:36:38 +0000 http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78195 I think you are mistaken, the shortages and long lines were during the Carter administration, not the Nixon administration. However, with that said, I will be the first to also say that Nixon was no conservative on economic matters.... I think you are mistaken, the shortages and long lines were during the Carter administration, not the Nixon administration. However, with that said, I will be the first to also say that Nixon was no conservative on economic matters….

]]> By: ReneB http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78194 ReneB Wed, 21 Dec 2005 17:31:27 +0000 http://hispanicpundit.com/2005/12/21/quote-of-the-day-144/#comment-78194 Ah yes, the totalitarian regime of Nixon and his price controls. Recent supply shocks differ greatly than those during 1973, the year Nixon signed the EPAA (Emergency Petroleum Allocation Act). Oil producing Arab states entered fourth Arab-Isreali war, and proclaimed a embargo of oil to the US. The difference between now and then is that in 1973 prices could not perform allocative function because suppliers had staunched flow. Ah yes, the totalitarian regime of Nixon and his price controls. Recent supply shocks differ greatly than those during 1973, the year Nixon signed the EPAA (Emergency Petroleum Allocation Act). Oil producing Arab states entered fourth Arab-Isreali war, and proclaimed a embargo of oil to the US. The difference between now and then is that in 1973 prices could not perform allocative function because suppliers had staunched flow.

]]>