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发表于 2016-2-26 02:15:19
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Just in case, 747 brothers are not aware of the world wide oil crisis in the 60's, some backgrounders:
The Arab countries headed by Egypt, with USSR's blessing, formed a coalition, to eliminate Israel who was backed by USA.
Whenever there is a war or about to have a war, oil prices will go up. At that time, Middle-east was the only place to have oil aside from USA (forget about the minor oil producing countries of today, e.g. Indonesia, Central America, etc.) Oil was less than US$1.00 a barrel. I am not sure now but was actually around US$0.20 a barrel! (one year ago, oil price was $150 a barrel and today about $30 a barrel!)
To punish the West, namely USA, oil was used a weapon. During those times, due to limited supply, drivers line up daily for gasoline. Just imagine the American gas guzzling cars of those days had an appetite of about 5 mpg, how can the J cars due to much smaller size and engine, guaranteed to have 50 mpg, not make a killing?
If you guys are interested, I can write some more about these historical events.
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