Category: Oil Crisis

The Fall of Detroit and the Role of the Oil Crisis of 1973 in It The city of Detroit, Michigan is considered to be one of the most dangerous cities in the world. Surprisingly, Detroit was not always a dangerous city, in fact, Detroit was once looked upon as the most desirable place to live…

An Analysis of the Likelihood of a Second Oil Embargo and America’s Preparedness for It The worlds economy is dependent on the availability of crude oil, which supplies the fuels needed for the transportation of labor, raw material, and most importantly final goods. Not only does oil fuel our economy, but it also yields over…

OPEC and the 1970s Oil Crisis Oil is very important because it is used to produce many goods and mostly used in heating and transport. This is why the supply of oil is in the hands of a small number of producers who are based in countries where oil reserves are found. These countries get…

Consequences of the Oil Crisis of 2008 for the Gold Countries Economic crisis is a circumstance in which the economy of nation encounters an unexpected downturn brought on by a financial crisis. The economy confronting a financial emergency and experiencing a falling GDP, an evaporating of liquidity and rising prices due to deflation. An economic…

The Oil Crisis of 1973-1974: Causes and Effects on the American Economy The objective of this study is to explain the impact that the 1973-1974 oil crisis, stemming from the countries known as OPEC (Organization of Petroleum Exporting Countries), had on oil prices, the American economy and the world economy. This essay discusses the causes…