America experienced its first oil shock. Within days of the cutoff, oil prices rose from $2.90 to $11.65 a barrel; gasoline prices soared from 20 cents to $1.20 a gallon, an all-time high. Across America, fuel shortages forced factories to close early and airlines to cancel flights. Filling stations posted signs: 'Sorry, No Gas Today.' If a station did have gasoline, motorists lined up before sunrise to buy a few gallons; owners limited the amount sold to each customer. Motorists grew impatient. Fistfights broke out, and occasionally, gunfire. President Nixon called for America to end its dependence on foreign oil. 'Let us set as our national goal. that by the end of this decade we will have developed the potential to meet our own energy needs without depending on any foreign energy source, ' he said. We have still not met this goal. Albert Marrin
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More Quotes By Albert Marrin
  1. Rising demand for oil exposed Europe, and later America, to oil shocks - serious interruptions in supply. Like a pebble tossed into a pond, an oil shock creats ripples, or effects, felt everywhere. Oil shocks have two causes. The first is natural, because existing oil...

  2. Words have consequences.

  3. America experienced its first oil shock. Within days of the cutoff, oil prices rose from $2.90 to $11.65 a barrel; gasoline prices soared from 20 cents to $1.20 a gallon, an all-time high. Across America, fuel shortages forced factories to close early and airlines to...

  4. By the fall of 1918, it was clear that a nation's prosperity, even its very survival, depended on securing a safe, abundant supply of cheap oil.

  5. It is in our best interest to.. . embark on a revolutionary change that will lead us away from oil dependency rather than drag our feet and suffer the costs of becoming growingly dependent on a diminishing resource.' Truer words were never written.

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