We're screwed.
Jimmy Carter has all the answers in a free market economy. /sarcasm
Could you ask some actual questions?
Nixon used price controls to try and keep the price of oil down.
It only created shortages and long lines.
What happened in the rest of the world? Prices went up, but there were no shortages because there we no price controls.
Okay, here's a suggested topic for you: "How the American EPA Killed the British Automobile Industry."
Gremlin, Pinto, and Pacer were the answer.... what was the question?
Many were trying to push small cars in the early '60's. The Chevy II, Tempest, Falcon and and Valiant and Duster were tries at econocars by the US manufacturers.
We would have nothing of it. The Nova SS, Camaro SS, The GTO, Mustang Cobra, Roadrunner and Super Bee grew out of these econo boxes.
The gas shortages of the '70's killed the Muscle Car mania, for a while. Many still hold these cars dear, the value they still hold proves it.
Now, US manufacturers are trying to bring back the GTO. But, many feel they are just a shadow of the past glories.
Check this out for 70's era car advertising:
http://www.rareads.com/rareads/webauto.html