There were oil shortages with price spikes after WW1, WW2, & Vietnam. Why?

[Hannah Bell]

Don't we use more oil during wars? Why does supply go short (& prices rise) after?

Could it be to keep profits up in the face of demand drops?


http://query.nytimes.com/gst/abstract.html?
res=9E0CE2D6163AEE32A25754C1A9659C946195D6CF

NYT 1920

"Oil shortage cry called propaganda, result of agreement by gas
companies...Lighting concerns say they have only enough oil to last
a few weeks..."


"5. It appears that this same fear of an oil shortage, either real
or imaginary, regularly manifests itself after every war and during
periods of national emergency. See American Petroleum Interests in
Foreign Countries, hearings before a Special Committee investigating
Petroleum Resources, pursuant to S. Res. 36, 79th Cong., 1st sess.,
1945."


The last troops left Vietnam March '73. The oil "arab" oil embargo started oct. 73.


BTW, another embargo in 79 - after the hostage crisis, lasted until reagan took office. convenient, that.

[Hannah Bell]

1. Links: post ww1 shortages

http://query.nytimes.com/gst/abstract.html?res=9E0CE2D6163AEE32A25754C1A9659C946195D6CF

http://query.nytimes.com/gst/abstract.html?res=9E06E4DF1F3FE433A25753C1A9629C946996D6CF

http://pqasb.pqarchiver.com/csmonitor_historic/access/297876252.html?dids=297876252:297876252&FMT=ABS&FMTS=ABS:AI&date=Mar+15%2C+1918&author=Special+to+The+Christian+Science+Monitor+from+its+Washington+Bureau&pub=Christian+Science+Monitor&desc=OIL+SHORTAGE+SEEN+FOR+UNITED+STATES&pqatl=google

http://books.google.com/books?id=ncZp6Knc1owC&pg=PA13&lpg=PA12&ots=DjprIbwpY1&dq=%22oil+shortage%22+1918&sig=gBpwh5NzmhG1FFW0Mo_32CDf6-k

[Captain Angry]

2. That would be interesting to see on a graph.

Especially with inflation pricing taken into consideration.