r/unknownvideos • u/Mammoth-Mud-9609 • 18h ago

Learning 1970's energy crisis, oil politics and economics and the lessons to be learned. [2,478 views]

https://youtu.be/fwlK3JHfXVY
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u/Mammoth-Mud-9609 18h ago

Starting in 1973 the energy crisis was created by a shortage in oil, partly caused by some countries entering peak oil production and also by some OPEC nations cutting back production as a result of conflict in the Middle East. However the long term effects were greater than anticipated and lessons can still be learnt from it today.