I was fresh out of the Army in 1974 and at Brown and Root in Texas, some the ex oil field guys were saying that the oil companies were capping off good wells to take them off line.
Every empty gas station was filled with gasoline and at one time there were 19 tankers in L.A. harbor with no place to unload.
In 72 I had given up our allotment with Union Oil because they had gone to unleaded gas and it was seizing up the valves in our small Wisconsin engines but until the 74 crunch I was able to buy bulk delivery on the open market.
The only thing that saved my ass was we worked on almost every gas station and So. Calif Refinery in the 1st 2/3 of the last Century and a good friend who built and demoed gas stations was busy tearing down stations the were marginal and if the tanks had any gas in them he would call me and I would have a few hours to pump them out and haul the gas to our tanks before he turned the tanks over and dumped it.
In 74 the environmental wackos weren't in force and no one cared how much gas you dumped.
I finally hooked up with a distributor I knew in San Diego and he had a 500,000 gallon allotment for a school district that they didn't completely use and he would deliver me a truck and trailer of gas and diesel every month or 2 to L.A..