Crude Oil, Fueling Around Again

From the John Locke Foundation:

In comparison to the events of the 1970s, gasoline consumers today are experiencing very few of the problems associated with an increased scarcity of petroleum. The Iraqi War has had an impact upon the price and availability of petroleum worldwide, and our own regulations have made it harder for the petroleum industry to respond to "oil shocks," or scarcer oil. But we can be thankful that the world and domestic events affecting the bouncing price of crude oil are showing up in our wallets, and not in the long gas lines and fuel rationing that took place during the 70s. The reason: we didn't make the mistake of imposing price controls on petroleum this time around.