- NEWSLETTERS
- MOBILE APPS
-
ADD TIME NEWS
SHORTAGES: Time for a New Frugality
Use it up
Wear it out
Make it do
Or do without.
Old New England maxim
That advice has long been out of fashion in a nation surfeited with material abundance, but now it may be on the verge of a comeback. At the height of its biggest boom, the U.S. seems almost to be based on an economy of scarcity. Shortages of an astounding variety of goodsfuel oil, nonferrous metals, wool, copper, cotton denims, vinyl records, plastic bottles, to name a feware jacking up prices, interfering with production, and in some cases directly threatening American living standards.
The most chilling danger, by far, is a winter heating-oil shortage (TIME, Oct. 8, 1973). Last week the White House ordered the first mandatory allocations of fuel that the U.S. has imposed since World War II. The Administration announced a wholesale rationing program for propane gas that will give first priority to rural residents and farmers, who use the fuel to dry crops. It also promised to have details of a similar program for heating oil worked out within two weeks. In general, the aim will be to make sure that refineries continue to sell heating oil to all wholesalers, rather than cut any off.
Administration officials were quick to emphasize that these steps by no means end the danger of a shortage; they will do nothing to increase the supply of scarce fuels. Interior Secretary Rogers C.B. Morton said the Administration will be satisfied if it can merely "spread the discomfort out and spread it out so thinly that it is not going to have any kind of drastic effect on the economy or the lifestyle" of the public. Whether that goal can be accomplished, Morton added, is "dependent on Old Man Winter and where he strikes, how long he strikes and what the temperatures are."
Even if the winter is mild, there will be no shortage of other supply bottlenecks for consumers to gripe about. Motorists continue to encounter spotty shortages of gasoline, aggravated by continuing protest shutdowns by gas-station owners. The dealers, who are being charged more for wholesale gasoline by major oil companies, demand that the Cost of Living Council permit them to post bigger increases at the pump than the 1¢-to 2.5¢-per-gal. boosts they have been allowed so far.
Long Wait. In New York, the National Association of Purchasing Management polled its members and found that products ranging from aluminum, copper and zinc to paper (both shipping boxes and office stationery), cotton, chemicals and corn syrup were available only after long waits for delivery. The McDonough Power Equipment Co., which makes lawnmowers and garden equipment, fears that the new plant it will open next spring will not be able to operate at capacity because it will not be able to get enough steel. In San Francisco, Levi Strauss & Co. is having to ration blue jeans to stores because of a scarcity of denim. In Los Angeles, American Chemical Corp. is having trouble getting enough raw materials to make plastic steering wheels, garden hoses and bottles. Capitol Records is trying to eke out supplies of vinyl by recycling old pressings.
- 1
- 2
- NEXT PAGE »
Most Popular »
- Obama and Counterterrorism: The Debate Moves Right
- Who Were the First Americans?
- Asian Carp in the Great Lakes? This Means War!
- A Wedding in the Town of Al-Qaeda
- Are the Bible's Stories True? Archaeology's Evidence
- Spain's Troubled Economy: Why Europe Is Worried
- Toyota's Safety Problems: A Checkered History
- Comcast's New Name: Rated X?
- North Korean Defectors: A Big Market for Matchmakers
- What Is Robert Gates Really Fighting For?
- Asian Carp in the Great Lakes? This Means War!
- Spain's Troubled Economy: Why Europe Is Worried
- Are the Bible's Stories True? Archaeology's Evidence
- Obesity in Kids: Three Lifestyle Changes that Help
- How to Build Your Own Bedbug Detector
- U.S. Troops Prepare to Test Obama's Afghan War Plan
- The Problem with Football: How to Make It Safer
- Gift Giving on Facebook Gets Real
- Experts: 40% of Cancers Are Preventable
- Who Were the First Americans?





RSS