Gordon Forgey: Forty years

A few weeks ago the national average price for a gallon of gasoline peaked at $3.94.

Every newscast covered the escalating prices, punctuating the reports with unhappy people at a gas pumps. Newspapers were no better, and talk shows railed over the situation.

Many blamed the president. He blamed speculators. Others blamed the greed of the oil industry.

Despite the emotion, nothing was new. We’ve been through this before.

The country was first hit by fuel shortages and dramatic price increases in the 1970s. Long, desperate lines of motorists waited for a chance at a pump. Gas stations even had a flag system. A green flag told motorists that there was plenty of gas. A yellow warned of rationing, and a red one declared the pumps dry.

To conserve gas, smaller vehicles were introduced, and highway speeds were lowered.

Eventually these and other conservation efforts were forgotten.

Now, the world demand for oil is greater than ever. China, India and other emerging economies want more and more of the stuff. Oil companies are being forced to drill in fringe environments, such as deeper waters and arctic wastelands. The costs and the risks are higher than ever.

Alternative power has been researched. Nuclear, wind, solar and natural gas are some of the options. New types of vehicles have been developed.

Solutions are just over the horizon—just as they were 40 years ago.

In contrast, one year after Japan’s disastrous earthquake, tsunami and nuclear plant meltdown every one of Japan’s nuclear power plants is off -line. A year ago, they accounted for 40 percent of the country’s power. Now, not one is operating. Some may be brought back on-line eventually. Still it shows how quickly a country can change if there is a will to do so.

Here, in America, there is still nothing to worry about. The price of gasoline has fallen 15 cents a gallon in the last two weeks.

There is time enough to finally get around to fixing the problem.

Gordon Forgey

Publisher