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Economic impact

Reader comment on item: [Saudi Arabia:] Not Friend or Foe

Submitted by Bob Irving (United States), May 15, 2002 at 11:30

Mr. Meyer is correct although I think that we should also note that the impact on the price of gasoline by a few percent decline was magnified by price controls imposed by the Nixon administration (his one truly impeachable offense in my mind). A similar oil "embargo" in 1967 did not produce the same dislocations.

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