Science, technology, and the environment - Energy and power - Oil shocks?

4 important questions on Science, technology, and the environment - Energy and power - Oil shocks?

What arrested the West's remarkable postwar economic growth?

The fivehold increase in oil prices that began in 1971 - and reached its peak in the 1973 OPEC oil embargo - temporarily arrested the West's remarkable postwar economic growth.

What did the heavy dependence on Middle East oil create?

Heavy dependence on Middle East oil left consuming states vulnerable to OPEC price shocks and periodic supply disruptions.

What prompted the Gulf War?

The 1991 Gulf War was prompted by a desire to prevent one autocratic leader, Saddam Hussein of Iraq, from taking control of the lucrative Kuwaiti oil fields and possibly threatening the Saudi monarchy.
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What is the relationship between George W. Bush and oil?

  • Any chance that the US, the world's largest consumer of oil, would wean itself from its dependency faded with the election of George W. Bush in 2000.
  • Both the president and his vice-president, Dick Cheney, had reaped millions from their connections to big oil companies.
  • During his first term in office the president called for intensified coal and oil exploration, and recommended that drilling begin in Alaska's Arctic National Wildlife Refuge.

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