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Gas Panic – in Britain?

By Paul Crowe

What’s wrong with this picture? The U.S. has a huge hurricane, oil rigs are temporarily offline, prices rise, things settle down, prices recede and people panic in Great Britain. Huh? Evidently, prices are going up in Britain like everywhere else, someone says, “Hey we’re running out of gas!” Everyone rushes to a gas station at the same time and obviously the station runs out and everyone says, “See, I knew it!” Panic spreads. Mob psychology is very weird.

Posted on September 14, 2005 Filed Under: Economics and Politics

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