There is also some bad news.
Although supply is plentiful, price, adjusted for inflation, is way up.
During the 1973-74 embargo, prices went up to about $40 a barrel adjusted for inflation.
Today, America pays around $100 a barrel, and Europe and Japan pay close to $110.
Remember when gas was being rationed? We were stationed at Fort Riley during that time and we drove to Florida to visit my in-laws for Christmas. We had no problem getting gas until we got into Florida and had to fill up. We could fill up 5 gallons, but after that we could fill the tank completely when we needed it. The same was when went to return home. Before we exited Florida we could only put in 5 gallons of gas