One thought on “Comparing the 1973 Oil Shock vs Today”
IIRC, The Yom Kippur War war started on Saturday Oct-6, 1973 (I remember that date because I was hired to start a new job on Monday Oct-1). Anyway, America backed Israel so OPEC spanked America by raising the price of oil from $3 per barrel to $12 per barrel. American companies shrugged then passed on the cost to their customers. Some European countries (Denmark + Norway) decided to develop wind power.
IIRC, The Yom Kippur War war started on Saturday Oct-6, 1973 (I remember that date because I was hired to start a new job on Monday Oct-1). Anyway, America backed Israel so OPEC spanked America by raising the price of oil from $3 per barrel to $12 per barrel. American companies shrugged then passed on the cost to their customers. Some European countries (Denmark + Norway) decided to develop wind power.