Magazine content is available exclusively for TIME subscribers.Business: Oil Squeeze
Ripples from Iran
With this winter's sudden spate of gasoline shortages now beginning to disappear, can motorists count on a hassle-free spring and summer on the highway? Hardly. By Memorial Day or shortly thereafter, shortages may start appearing all over again.
The problem this time is the Iranian oil shutoff. At first, U.S. officials dismissed the Iranian oilfield strike as a temporary phenomenon of no great consequence. But the strike has been dragging on since late October, and for the last month virtually no crude at all has been pumped out of the ground....
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