Am curious about how long it will take oil shortages to impact consumers, what the leading indicators will be (beyond the obvious one of lack of oil for refineries), etc. How low will imports have to descend before we have to tap the SPR - and what kind of justification for that could the President offer? If finished products were rationed out, how much time could that buy for mitigation plans to be drawn up?
Been reading about the 1973 oil crisis, and wondered much time it took for the announcement of the embargo and actual shortages to appear - pretty fast, it seems. I notice OPEC played favorites, too:
$this->bbcode_second_pass_quote('', 'T')he embargo was not uniform across Europe. Of the nine members of the European Economic Community (EEC), the Dutch faced a complete embargo for their support of Israel, the United Kingdom and France received almost uninterrupted supplies (having refused to allow America to use their airfields and embargoed arms and supplies to both the Arabs and the Israelis), whilst the other six faced only partial cutbacks.






