BUSINESS
11/09/2012 03:53 pm ET

New York Gas Shortage Following Hurricane Sandy Mirrors 1970s U.S. Oil Crisis (PHOTOS)

In our nation's Northeast, it's beginning to look a lot like Christmas the 1970s oil crisis.

Thanks to the back-to-back struggles of Hurricane Sandy and a frigid Nor'easter, fuel supplies in the region are beginning to dwindle. The result: Scenes eerily reminiscent of the U.S. oil crisis from 1973-1974, when lines of cars stretched for miles and prices at the pump skyrocketed.

Business Insider reminds us the 1973 oil embargo was a product of U.S. support for Israel, not catastrophic weather. No matter the cause, though, the effects have been similar.

In an attempt to head off frustration and increase efficiency, New York City's Mayor Michael Bloomberg has initiated a gas-rationing system, while others have invented more creative avenues to top off the tank.

Meanwhile, at least seven gas stations in New Jersey are facing lawsuits alleging price gouging after Hurricane Sandy. According to the Associated Press, prices at the offending stations increased between 17 and 59 percent .

PHOTOS from the 1973-1974 crisis [via David Falconer/U.S. National Archives]:

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