It was part embargo and part stick-up. That is how it was designed and how it worked. It was get rich time for the shieks. When the embargo was lifted in late March and oil again flowed our way the prices stayed up, not at their peak, but higher than heretofore. Of course, right in the middle of all these angry motorists stomping around in lines at filling stations comes Exxon's annual report for 1973 reporting a huge increase in profit during the fourth quarter.
Loyalties can be a serious encumbrance where the single minded pursuit of profit is concerned.
One of the temporary offshoots of this gas shortage was the national 55 mile per hour speed limit on federal highways. It was designed to conserve gas as well as save lives. This concern with conservation turned out to have a shelf life of about 20 years. On February 17, there was a flurry of excitement in Washington. A soldier, private Robert Pearson swiped a helicopter out at Fort Meade and went joy riding.