We actually didn't officially ration gasoline during the Oil Crisis Of 1974. The government printed, at the bequest of The Federal Energy Administration, gasoline rationing coupons in 1974 and 1975. However, they never used them. The actual number printed was 4.8 billion, and they were printed by the Treasury Department. Feeling the patriotic thing to do, was to put an image of George Washington on the coupons, the bill actually resembled a $1.00 bill.
Voluntary gas rationing had become a failure that was obvious by April 1942.
May 15, 1942 gasoline rationing began in 17 eastern U.S. states, in order to help the war effort. The allotment was 3 gallons a week. December 02, 1942 mandatory gasoline rationing was required in all states.
Gasoline rationing followed the rationing of rubber products, such as tires, as the Japanese had cut off the supply route of the rubber from the East Indies. More
Richard Nixon ordered the printing of the gasoline rationing coupons, and the job was done in a hurry. So, when the time came to use the image of George Washington, they used the one they had on hand, which was the same image used on the $1.00 bill.
Not sure what to do with this huge problem, the U.S. Treasury then locked up the 4.8 billion coupons in their hollow mountain in Pueblo Colorado, and there they sat from 1975 to 1984. By May of 1984 the government had decide they had stored the coupons long enough.
That gasoline rationing coupon, when placed in a change machine, would actually produce four quarters, which was actualy more than the cost of a gallon of gasoline at that time. Since that was obviously a huge mistake, as there was suppose to be no value for a coupon, it just entitled the bearer to a gallon of gasoline, which he still had to pay for, out of his own pocket, the coupons could not be used. Realizing this mistake, much too late, the serial numbers were never printed on the coupons.
The cost for the coupons ran into the millions in 1974 dollars. In 1984, having this huge problem with the tons of coupons, the government decided to shred the gasoline rationing coupons, and bury the pile of shredded paper. The demolition project was done by Army personnel under Energy Department supervision.
