1970's Vs. 2008

Discussion in 'Lawn Mowing' started by Grass Happens, Jul 13, 2008.

  1. Grass Happens

    Grass Happens LawnSite Senior Member
    Posts: 682

    I have been wondering this for awhile, how does the current fuel crisis/economic situation compare with the late 70's? I have read all about the stagflation/inflation, Fed Intrest rates, etc; but i'm curious to how it actully impacted you. Even better if you were in business in those days, and the stratgies and tricks you used to stay afloat.
     
  2. prizeprop

    prizeprop LawnSite Senior Member
    Posts: 820

    Some people I new had two different license plates. One for odd # days and one for even # days.
     
  3. delphied

    delphied LawnSite Silver Member
    Posts: 2,067

    We arent in a fuel crisis now. We have plenty of fuel. It just costs more. In Michigan in the 70's so called fuel crisis, I never went without gas. It was almost a non issue in most parts of the country except the beltway from what Ive read. This rise in fuel cost is going to change the economy and the way we live. For the worse since wages wont be going up but all prices will. Should be an interesting time ahead.
     
  4. DuallyVette

    DuallyVette LawnSite Gold Member
    Posts: 3,308

    Good assessment.

    I had to get in line for fuel every other morning. There was a limit on how much you could buy at a time. Either $10 or 10 gallons.:confused:

    The economy has never affected my business very much. When I look at economic charts, I usually made some large purchases during down times ( vettes, trucks, tractors) I paid 15% interest on a SUV in 1984. I know a guy that bought a house at 14% (OUCH) We never thought that 5 or 6% interest would ever be seen again, no more than I thought we'd be riding horses ( for transportation)again.

    Today, with all the corruption: Government, Enron, Mortgage brokers, loose loan standards, social services and Medicaid (doubled +by illegal immigration)

    Our lives will surely change.

    Welcome to Walton's Mountain ( A 70's TV show about a family during the depression of 1929)

    Hopefully:
    We'll get some medical costs reforms.
    Some healthier (thinner) people, since food will be expensive and scarce. (corn for bio fuel= 5 mpg)
    Less pollution and new energy technologies. More solar/wind...less coal etc.
     
  5. Frue

    Frue LawnSite Bronze Member
    Posts: 1,472

    so basically what your saying get ready for depression?
     
  6. Grass Happens

    Grass Happens LawnSite Senior Member
    Posts: 682

    I should have clarified. I know we are not in a fuel shortage, however, the cost of fuel has never been at such high levels. The fuel crisis of the 70's is the closest allegory available. That combined with the weak job market and recession FEARS, make it rather simple to draw broad comparisons to the late 70's. I was simply wondering how those in the midst of those troubled times made due and/or flourished.
     
  7. DuallyVette

    DuallyVette LawnSite Gold Member
    Posts: 3,308

    NOOOO !! They usually shoot the messenger.

    Instead of a recession, I think we need a revolution. Maybe a government for the people, by the people. Maybe a country where you could work 40 hours a week, and with a minimum wage, pay for a place to live, food to eat, and a few extras, and not have that job subsidized by "social services"

    Maybe since Bill Gates retired from Microsoft, He'll have time to develop some new "water into gas" pill. Computer technology and the dot com industry made enough millionaires to generate enough Wall Street profits to be taxed, to pay off the Federal deficit once upon a time. We need another miracle.
     
  8. Two Seasons

    Two Seasons LawnSite Senior Member
    Posts: 791

    I think you'll find that, once adjusted for inflation, a gallon of fuel is on par with the cost back in the late 70's. China and India are sucking up barrels of oil today unlike 30 years ago. I read that we consume 86 million barrels per day and refine 85.

    Ethanol is smoke and mirrors and our gov't, whether state or federal, love it because you and I are at the pumps more frequently now because our MPG isn't there. Every time you have to buy more fuel the gov't benefits from the taxes/gallon. There is 0 incentive for our current politicians to change anything as we are filling the treasuries faster with ethanol.

    Where have all the statesmen gone?
     
  9. delphied

    delphied LawnSite Silver Member
    Posts: 2,067

    I think that now is different from the late 70's because quite frankly, the average person knows that life is not going to get better in this country from here on out. In the late 70's folks figured things would get better in a year or so. Even with a good college education, pay is going down and prices are going up. What will change that? Nothing. We are in a world economy foisted upon us by big business and politicians. Our standard of living is deteriorating as other countries slowly do better. What will make that situation better?
     
  10. Charles

    Charles Moderator Staff Member
    Posts: 7,952

    The entire world uses apprx 82 million barrels per day. Here is the list of consumption by Country:

    Rank Countries Amount (top to bottom)
    #1 United States: 20,730,000 bbl/day
    #2 China: 6,534,000 bbl/day
    #3 Japan: 5,578,000 bbl/day
    #4 Germany: 2,650,000 bbl/day
    #5 Russia: 2,500,000 bbl/day
    #6 India: 2,450,000 bbl/day
    #7 Canada: 2,294,000 bbl/day
    #8 Korea, South: 2,149,000 bbl/day
    #9 Brazil: 2,100,000 bbl/day
    #10 France: 1,970,000 bbl/day
    #11 Mexico: 1,970,000 bbl/day
    #12 Italy: 1,881,000 bbl/day
    #13 Saudi Arabia: 1,845,000 bbl/day
    #14 United Kingdom: 1,827,000 bbl/day
    #15 Spain: 1,573,000 bbl/day
    #16 Iran: 1,510,000 bbl/day
    #17 Indonesia: 1,168,000 bbl/day
    #18 Taiwan: 965,000 bbl/day
    #19 Netherlands: 946,700 bbl/day
    #20 Thailand: 900,000 bbl/day
    #21 Australia: 877,300 bbl/day
     

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