Just like the fuel "shortage" back in the 1970's. Had a friend of the family who ran a gas station on a lease from what was then Standard Oil...Standard had a meeting of their regional dealers and lessees and told them, "Boys, we have xxx gallons of fuel to sell...and if you can't raise your sales figures to meet your quota, we'll get somebody else into that station who CAN sell it!!!"
As long as the oil companies can get the price they want--whether the station owners make money or not--that's all that matters. If they have to create spot-shortages to increase demand [at the higher price, of course], they will. There never was a real shortage in the '70's, and there isn't one today. My mom's uncle ran a Shell Oil distributorship from the late 1940's thru the late 1980's, and he could get all the gasoline he wanted in the '70's...but sometimes it didn't come from Shell, who had distributors on "allocation" for awhile. But the independent refiners had supplies they sold to allocation-short distributors...which is why Unk's tanker truck sometimes was out on the road with paper taped over the Shell emblem on the door.
The oil companies were playing games in the '70's, same as today. As long as the price is right, there's plenty of product. And the price only goes down when storage facilities are getting full, from people cutting back. World oil prices affect pump prices more when the world price is rising, not when it's falling.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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