JOURNAL ARTICLE

So, what happens during a gas crisis, anyway? Your older relatives have a reason to bring up what could come next.

  • Published In: Fortune.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Gioino, Catherina 3 of 3

Abstract

The article focuses on the 1970s U.S. gas crisis and its parallels to current fuel supply challenges. In 1973, an embargo by Arab members of the Organization of the Petroleum Exporting Countries (OPEC) drastically cut oil supply to the U.S., causing prices to triple and leading to widespread fuel shortages, rationing by license plate numbers, and long gas lines. Measures such as a nationwide 55 mph speed limit, fuel economy standards, and the creation of the Strategic Petroleum Reserve were implemented in response. While today’s situation involves global supply disruptions and rising prices, the U.S. is now the world’s largest oil producer, though domestic refineries are often optimized for imported crude. The article also references the 2012 gas crisis caused by Superstorm Sandy, illustrating that fuel shortages can arise from both geopolitical and natural events. [Extracted from the article]

Additional Information

  • Source:Fortune.com. 2026/03, pN.PAG
  • Document Type:Article
  • Subject Area:Economics
  • Publication Date:2026
  • Accession Number:192311542
  • Copyright Statement:Copyright of Fortune.com is the property of Fortune Media (USA) Corporation and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Looking to go deeper into this topic? Look for more articles on EBSCOhost.