Oil

Oil prices at this time are no higher than any other time in the 1980's, after adjusting for inflation. It was just that the spike in oil occurred rapidly and the consumer wasn't ready for this. Should the spike have happened. That is up for conjecture. The oil companies are definitely pleased so this is no surprise. Secondly (or maybe this should be first) the "perceived" shortage drove up prices. I do not see lines at gas stations the way they were in 1973.

Just for starters, ration cards should be issued to all motorists. Also, High Occupancy Vehicles should be mandatory. SUV's wouldn't be such gas guzzlers if at least five or more passengers were in each one. These two measures alone would reduce fuel (gasoline) consumption tremendously and the price would be driven down on oil.

It would take a concerted effort, but this is "war" and it can be done.