So with Hurricane Ike looming off the coast of Texas, reports went out across the southeast of potential problems with distribution of gasoline as well as an increase in cost. Reports said the price could go as high as five dollars a gallon. Naturally we as a public chose to conserve, carpool, cancel non-essential trips, etc. right? NO.. we are Americans! People actually left work to go get gas. There were so many people at the pumps.. it looked like it was 1979 all over again. The cars were 4 and 5 deep in some places. Many stations ran out of gas in a matter of hours.
Since it is a supply and demand industry, as supply decreased.. price increased. in a matter of minutes the price jumped 30 cents. Panic is not good! It helped push the Great Depression when there was the run on the banks. What about Y2K. I know people who went into serious debt preparing shelters and stocking up food for the end of the world. Speaking of stocking up.. when there is a threat of inclement winter weather in the south, you can count on a run on bread and milk at your local grocer. Simply put... calm down people. I quote Tommy Lee Jones, as Agent K in 'Men in Back' when I say.. "a person is smart... but people are stupid"
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