Throughout human history, before the modern history of the oil and gas industry even begins, energy has been a key enabler of living standards. To survive in the agrarian era, people burned wood for warmth and cooking. In addition to use as a building material, wood remained the chief glob...
doi:10.2139/ssrn.3592443Although the scale of oil demand destruction from the Covid-19 pandemic is unprecedented, it does not mean there are no precedents to help us think about what oSocial Science Electronic Publishing
In the first half of 2008, surging prices of oil and other commodities revived unhappy memories of the stagflation of the 1970s. More recently, the extraordinary intensification of the global financial crisis since the mid-September collapse of Lehman Brothers has brought back an even more ominous...
of the Kawasaki Group. Expanding energy demand in this period of rapid economic growth made securing a stable source of energy into a significant issue for trading firms. In addition, the 1973 oil crisis that hit Japan in the ensuing years served to further heighten the role of trading ...
G In America, performance became a prime focus of marketing, exemplified by pony cars and muscle cars. But everything changed in the 1970s as the 1973 oil crisis, automobile emissions control rules, Japanese and European imports, and stagnant innovation wreaked havoc on the American industry. Th...
戏) in the oily sheen (光泽) and oil-tinged pelicans feeding their young. But they spotted no dead animals. "I think part of the reason why we're not seeing more yet is that the impacts of this crisis are really just beginning " Greenpeace marine biologist John Hocevar said. The co...
By the end of the decade, the number of automobile marques had been greatly reduced. G In America, performance became a prime focus of marketing, exemplified by pony cars and muscle cars. But everything changed in the 1970s as the 1973 oil crisis, automobile emissions control rules, ...
Crude oil prices nearly doubled to almost $40 per barrel in twelve months. The energy crisis of 1979 led to the development of smaller, more fuel-efficient vehicles. OPEC's market share fell sharply and utility companies moved toward alternative energy sources. ...
during the 1960s. However, the added cost and complexity of extracting oil shale made it less effective as an alternative to conventional oil wells. The oil shale industry experienced a period of resurgence during the 1970s when the so-calledoil crisisbriefly made oil shale economically ...
just before theOrganization of Petroleum Exporting Countries(OPEC) oil crisis. The first pipeline transportation shortly after 1975. The high quality of the oil, coupled with regional stability of the North Sea area and OPEC oil embargo fears, made the cost of production of the North Sea Brent ...