South Korea announces gas rationing...

[TaePo]

Watching YTN news live.

South Korea announced an energy crisis regarding gasoline through 2013.

This from a country who has propane, natural gas, hydrogen (probably electric, too but not witnessed) at all major gas stations, at least on the major highways.

They will be rationing gas on an even / odd day basis. It is just announced so details are sketchy (I am rusty on my languages).

What might happen here? The odds will go up if this also occurs in other countries such as Mexico, India, China etc.

[ReefBlue]

This happened here 30 years ago. I don't think a lot of people realize that.

Personally, if you need to buy gas every single day of the year, something odd is going on. Typically commercial vehicles are exempt from such things.

Our economy works differently though, we are a market society. There is such a thing known as 'price rationing' which basically means the cost is what makes people buy less, not limits set by government.

If rationing did occur here, I would be in good shape. I live close enough to work to take mass transit. People who are as well, but do not take it, would be compelled to, which is a good thing overall. So many people live within the area mass transit serves, yet they couldn't tell you one thing about it.

However, I would still buy my allocation every day I was allowed, even if I didn't need it, I would store it somewhere, even if I had to buy 300 gallon tanks and put them in my back yard.

But then again, if a lot of countries start to ration, that means more for us and we won't have to ration.

[TaePo]

This happened here 30 years ago. I don't think a lot of people realize that.

Personally, if you need to buy gas every single day of the year, something odd is going on. Typically commercial vehicles are exempt from such things.

Our economy works differently though, we are a market society. There is such a thing known as 'price rationing' which basically means the cost is what makes people buy less, not limits set by government.

If rationing did occur here, I would be in good shape. I live close enough to work to take mass transit. People who are as well, but do not take it, would be compelled to, which is a good thing overall. So many people live within the area mass transit serves, yet they couldn't tell you one thing about it.

However, I would still buy my allocation every day I was allowed, even if I didn't need it, I would store it somewhere, even if I had to buy 300 gallon tanks and put them in my back yard.

But then again, if a lot of countries start to ration, that means more for us and we won't have to ration.

Yes, I grew up during the 70's. Luckily I did not start driving until late 79! But I remember the lines and my father bought a tank. I am thinking of doing the same myself.

Further, I drive 70 miles to work one way. There is no public transportation I can take. Luckily I only work 3 or 4 twelve hour shifts per week, but I know I would need gas sometimes on an off day (forgetfulness etc.) I am getting older so...

I just hope it does not come to it. I hope we all slow down a bit and conserve in other ways so we aren't forced to do it. And I hope the lines don't start again. (of course, there was talk of shortages which turned out to be lies back then)

In any case, this bears watching. I don't think any discussion will come up until after the elections, though.