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1970s energy crisis

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1970s energy crisis
Real and Nominal price of oil, 1968–2006.[1]
Date1973 (1973)–1980 (1980)
Also known as1970s oil crisis

The 1970s energy crisis happened when the Western world, mainly in the United States, Canada, Western Europe, Australia, and New Zealand, faced large petroleum shortages as well as inflated prices. The two worst crises of this period were the 1973 oil crisis and the 1979 energy crisis, when the Yom Kippur War and the Iranian Revolution caused an interruptions in Middle Eastern oil exports.[2]

References[change | change source]

  1. "Annual Energy Review 2006, Figure 5.21" (PDF). U.S. Energy Information Administration, Department of Energy. June 2007. Retrieved 30 May 2016.
  2. "Oil Squeeze". Time. 1979-02-05. Archived from the original on 7 March 2008. Retrieved 7 September 2013.