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Re: Panic at the Pumps
I'm blaming the newspapers for yesterday's scenes. On Thursday BP said it had closed 'a handful' of petrol stations. Yesterday's front pages went to town on this, including The Sun's 'We're Running on Empty'. They must have known such inflammatory headlines would cause panic buying.
A good description of the situation I spotted on twitter: 'Panic buying is collectively irrational, but individually rational.'
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