The Oil Crisis that Isn't

Singer, S. Fred
February 1979
New Republic;2/24/79, Vol. 180 Issue 8, p13
Argues that U.S. President Jimmy Carter is right in saying that Iran's cutoff of oil exports does not constitute an oil crisis for the United States. Author's view that the country should not resort to such controls as mandatory allocations and rationing; Disadvantages of intervening with the market for oil and oil products; Lessons from the Arab oil embargo of 1973-1974; Author's view that the market will ultimately balance itself even if the Iranian cutoffs persists for a very long time.


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