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Pax Americana [1] [2] [3] (Latin for ' American Peace ', modeled after Pax Romana and Pax Britannica), also called the "Long Peace", is a term applied to the concept of relative peace in the Western Hemisphere and later in the world after the end of World War II in 1945, when the United States [4] became the world's dominant economic, cultural, and military power.
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]
"Long Peace" is a term for the unprecedented historical period of relative global stability following the end of World War II in 1945 to the present day. [1] [2] The period of the Cold War (1947–1991) was marked by the absence of major wars between the superpowers of the period, the United States and the Soviet Union.
The Economic Stabilization Act of 1970 (Title II of Pub. L. 91–379, 84 Stat. 799, enacted August 15, 1970, [2] formerly codified at 12 U.S.C. § 1904) was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers [3] as part of a general program of price controls within the American domestic goods and labor ...
One result of those slack prices is that U.S. average pump prices for gasoline fell to $3.03 a gallon this week, the lowest since May, 2021 and well down from their record peak of $5.02 from June ...
Now, a cut in oil production signaled by the OPEC+ group last week has sent global crude prices higher, pushing prices back up at the pump. According to AAA, the national average price of a gallon ...
While most of the stock market is on the rise, the renewable energy industry is taking it on the chin in trading today. Not only is there speculation that subsidies could be cut back, but higher ...
Better than the American Century or the Pax Americana, the notion of an American Lebensraum captures the specific and global historical geography of U.S. ascension to power. After World War II, global power would no longer be measured in terms of colonized land or power over territory. Rather, global power was measured in directly economic terms.