Rationing & Addicted to Speed

[Terrance]

Thanks John. 

Some numbers: 

Nominal crude oil prices show almost tiny fluctuation and no real change
from 1880-1973. 
In 1974 crude rose from around 3$ per bar. to almost $40 per bar.  

Real crude oil prices, with modest fluctuation, declined in the same
period  (1880-1973) but spiked in 1974 from around 4$ to more $42. 

World crude production has increased steadily, from around 5 mm bar per
day in 1945 to around 70 mm bpd. 

http://www.searchanddiscovery.com/documents/ahlbrandt/