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Topic: 1973 oil crisis


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  1973 Oil Crisis
Nixon, who was president at that time, ordered the department of defense to create a stockpile of oil in case the country needed the military to carry it through a time of chaos.
Oil heat was slowly replaced by electric heat.
The Rising oil prices continued to be a threat to not only America’s economy, but also that of the world.
www.ccds.charlotte.nc.us /History/MidEast/04/horton/horton.htm   (1472 words)

  
  mrlewisworld: 1973 oil crisis
In the industrialized countries, especially the United States, the crisis was for the most part borne by the unemployed, the marginalized social groups, certain categories of aging workers, and increasingly, by younger workers.
The crisis was further exacerbated by government price controls in the United States, which limited the price of "old oil" (that already discovered) while allowing newly discovered oil to be sold at a higher price, resulting in a withdrawal of old oil from the market and artificial scarcity.
The 1973 oil crisis was a major factor in Japan's economy shifting away from oil-intensive industries and resulted in huge Japanese investments in industries like electronics.
mrlewisworld.blogspot.com /2007/05/1973-oil-crisis.html   (4408 words)

  
 The OPEC oil crisis (Autumn 1973): historical context, economic impactand related links
In March 1973, in the face of rapidly growing demand from the United States, the Government of Canada decided to control the export of Canadian oil and thereby ensure the domestic supply.
Moreover, multinational oil companies were displeased to see their soaring profits limited by the new federal policies.
In December 1973, partly in response to the OPEC oil crisis, the government created Petro-Canada to spur oil and gas exploration, to help develop the Alberta tar sands, to obtain reliable imports and to gain better information about a strategically important industry.
www.canadianeconomy.gc.ca /english/economy/1973opec.html   (424 words)

  
 CBC News Indepth: Oil
Oil is sold in barrels - it's the same unit of measure used to sell whisky.
Oil prices were stable for most of the 100 years before 1973 at well under $5 a barrel.
By 1979, the world was in for another oil shock as unrest in Iran led to the toppling of the Shah - a friend of the West - and the rule of the ayatollahs.
www.cbc.ca /news/background/oil   (673 words)

  
 Peak Oil Theory
He says that he's been an 'energy geek' since the 1973 oil crisis, and he is obsessed with gaining knowledge about global energy economics and supplies.
Oil is not a renewable energy source, and therefore can and will be exhausted at some point in the future.
King Hubbert noticed a logistics curve in oil discoveries and based on these findings he predicted that there would be a global oil peak between the year 1995 and 2000.
www.peak-oil-news.info /global/theory   (1137 words)

  
 1973 oil crisis - Voyager, the free encyclopedia   (Site not responding. Last check: )
The complete dependence of the industrialized world on oil, much of which was produced by Middle Eastern countries, became painfully clear to the U.S., Western Europe, and Japan, requiring Western policymakers to respond to international economic constraints that were qualitatively different from those faced by their predecessors.
Oil, especially from the Middle East, was paid for in United States dollars(aka petrodollars), at prices fixed in dollars.
On October 16th, 1973, as part of the political strategy that included the Yom Kippur War, OPEC cut production of oil, and placed an embargo on shipments of crude oil to the West, with the United States and the Netherlands specifically targeted.
voyager.in /1973_energy_crisis   (4229 words)

  
 1973 oil crisis Summary and Analysis
The year of 1973 marks one of the most important turning points in the history of the twentieth century.
The 1973 oil crisis began on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that...
Thanks to the oil crisis, a fill-up will be expensive, and might involve waiting in line — but at least those government gas rationing coupons haven't gone into effect.Gas rationing coupons?Whether or not you have memories of...
www.bookrags.com /1973_oil_crisis   (163 words)

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