Title: Historical Background to the World Energy Crisis
Abstract: Coming on top of chronic inflation and serious commodity shortages, the dramatic increase in crude oil prices towards the end of 1973 shook the world economy to its very foundations, precipitating the energy crisis which had long been anticipated — if not for another decade or so. How to cope with the economic implications of the crisis became, almost overnight, the major preoccupation of governments all round the world. In the industrialised countries, virtually everybody — in every walk of life — has been affected by higher prices for all types of petroleum products, never mind the increased demand for substitutes and the further twist to the inflationary spiral. But it is the likely consequences of huge revenues accruing to the oil-producing countries that is perhaps the principal cause of concern.
Publication Year: 1976
Publication Date: 1976-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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Cited By Count: 3
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