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  2. 1970s energy crisis - Wikipedia

    en.wikipedia.org/wiki/1970s_energy_crisis

    The crisis began to unfold as petroleum production in the United States and some other parts of the world peaked in the late 1960s and early 1970s. [3] World oil production per capita began a long-term decline after 1979. [4] The oil crises prompted the first shift towards energy-saving (in particular, fossil fuel-saving) technologies. [5]

  3. Price of oil - Wikipedia

    en.wikipedia.org/wiki/Price_of_oil

    The 1970s oil crisis gave rise to speculative trading and the WTI crude oil futures markets. [53] [54] In the early 1980s, concurrent with the OPEC embargo, oil prices experienced a "rapid decline." [49] [3] In early 2007, the price of oil was US$50.

  4. History of the oil shale industry in the United States

    en.wikipedia.org/wiki/History_of_the_oil_shale...

    US natural gas production declined after peaking in 1971. A booming world economy turned the buyer's market for oil in the late 1960s into a seller's market in the early 1970s. OPEC took advantage of the tight market to pressure oil companies to pay higher prices.

  5. A Look Back at the 1970s Energy Crisis - AOL

    www.aol.com/finance/look-back-1970s-energy...

    In the early '70s, gas prices hovered around 36 cents a gallon. By 1980, motorists were paying an average of $1.19 a gallon , or $4.05 in today's dollars. For more informative articles like this ...

  6. History of the petroleum industry in the United States

    en.wikipedia.org/wiki/History_of_the_petroleum...

    Crude oil production Natural oil seeps such as this in the McKittrick area of California were used by the Native Americans and later mined by settlers.. The history of the petroleum industry in the United States goes back to the early 19th century, although the indigenous peoples, like many ancient societies, have used petroleum seeps since prehistoric times; where found, these seeps signaled ...

  7. Oil prices could soar 62% by early 2025 if the geopolitical ...

    www.aol.com/oil-prices-could-soar-62-192624088.html

    Oil prices could soar more than 60% by early next year if conflict in the Middle East continues to escalate, according to Citi. The bank said oil prices could go as high as $120 per barrel in the ...

  8. 1970–1979 world oil market chronology - Wikipedia

    en.wikipedia.org/wiki/1970–1979_world_oil...

    Involves gradual 28 month increase of "old" oil price ceilings, and slower rate of increase of "new" oil price ceilings. June 26–28 : OPEC raises prices average of 15 percent, effective July 1. Oct : Buy-Sell Program sales average more than 400,000 bbl/d (64,000 m 3 /d) from October 1979 through March 1980 - highest level since February 1976 ...

  9. Gas Prices for Every Decade Since 1930 - AOL

    www.aol.com/finance/gas-prices-every-decade...

    The Early Years: Smooth Sailing for Nearly 2 Decades ... Did Gas Prices. The hyperinflation of the 1970s peaked near 14% in 1980. After a major recession the next year, the Federal Resserve’s ...