Oil also powers less of the US economy these days. In 1975, petroleum accounted for 47% of the energy consumed in the United ...

Ever wonder why diesel cars exploded in popularity in Europe but not elsewhere? It goes back to 1973: the first oil crisis, when OPEC cut off oil exports. Prices tripled almost overnight. Europe’s ...

Needless to say, the similarities with the first oil crisis in 1973 will suggest to many that a new oil price spike will occur, but this is not your father’s (or mother’s) oil crisis.

The year 1973 was full of change and entirely groovy. The U.S. pulled out of Vietnam, Roe v. Wade shook up the courts, and ...

Despite Office of Defense Mobilization advice that Europe cannot yet depend on Middle Eastern oil, the Texas Railroad Commission last week sharply cut daily Texas output by 224,710 bbl. to 3,564. ...

Fifty years after the 1973 Arab oil embargo, the current crisis in the Middle East has the potential to disrupt global oil supplies and push prices higher. But don't expect a repeat of the ...

From mid-2021 until late 2022, Europe and parts of Asia were gripped by an energy crisis, as oil, gas, coal and power prices surged, in some cases to record highs, forcing households and firms to ...

The 1973 OPEC oil crisis had no lasting damage on equities. You might even argue it was a great time to load up on lower valued stalwarts. Throughout the 1970s, the S&P 500 never reached the lows ...

The energy crisis is already pushing Germany – Europe’s biggest economy – into a recession, which will deepen as we head into the winter months amid the ongoing natural gas and energy crisis ...

And a ‘large disruption’ – featuring a supply fall of 6 million to 8 million bpd (like the drop seen in the 1973 Oil Crisis) – would push the oil price up 56-75 percent. By Simon Watkins ...

The energy crisis of 1979 was one of two oil price shocks during the 1970s—the other was in 1973. Higher prices and concerns about supplies led to panic buying in the gasoline market.

What can the 1973 oil shock teach us? This isn’t the first energy crisis the world has faced. Image: ... Russia reduced supplies of gas to Europe and threatened to cut oil production.