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Bob Bancroft's avatar

Tankers were sitting full offshore because the storage tanks were full in Long Beach and Richmond

CA. The "Arab oil embargo" was a great scam by the consolidating petroleum industry to triple profits overnight, eliminate/ buy out independents, and push back against environmental regulations on drilling and refining and auto emissions. Pretty much the same playbook Enron pulled later. Fraud and greed in a "market" where the only thing "free" is corporate swindling.

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Mr. Yuk, Human Bean's avatar

Damn! That doesn't happen very often.

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