Having lived through the 1970s...
when crude oil prices doubled following the OPEC oil embargo in 1973 and doubled again in 1978 following the fall of the Shah, I'm not interested in going through that kind of economic havoc again anytime soon. The 1970s were a period of high interest rates, high inflation, economic stagflation, and general unpleasantness. Let's not go there again, okay?
