Search results
Results from the WOW.Com Content Network
The oil crisis pushed West European car buyers away from larger, less economical cars. [192] The most notable result of this transition was the rise in popularity of compact hatchbacks. The only notable small hatchbacks built in Western Europe before the oil crisis were the Peugeot 104, Renault 5 and Fiat 127.
The 1973 oil crisis was a direct consequence of the US production peak in late 1960 and the beginning of 1971 (and shortages, especially for heating oil, started from there). The "embargo" as described below is the "practical name" given to the crisis.
Among the causes were the 1973 oil crisis, the deficits of the Vietnam War under President Johnson, and the fall of the Bretton Woods system after the Nixon shock. [2] The emergence of newly industrialized countries increased competition in the metal industry, triggering a steel crisis, where industrial core areas in North America and Europe were forced to re-structure.
The U.S.’s decision to back Israel in the conflict ultimately led to an oil embargo and production cuts from the Organization of Arab Petroleum Exporting Countries (OAPEC), which caused the ...
Economically, the 1970s were marked by the energy crisis which peaked in 1973 and 1979 (see 1973 oil crisis and 1979 oil crisis). After the first oil shock in 1973, gasoline was rationed in many countries. Europe particularly depended on the Middle East for oil; the United States was also affected even though it had its own oil reserves.
The sex ratio (excess of male children born over females) reaches 106.7, the highest this century for the UK. [40] Start of Secondary banking crisis of 1973–1975. [41] Darul Uloom Bury, the UK's oldest Islamic seminary, is established. The Vindolanda tablets are discovered by Robin Birley near Hadrian's Wall.
The SPR, which dates to President Gerald Ford’s Administration, was enacted as a direct response to the 1973 oil crisis when members of the Organization of Petroleum Exporting Countries (OPEC ...
On October 19, 1973 Richard Nixon requested $2.2 billion to support Israel in the Yom Kippur War. That resulted in OAPEC countries cutting production of oil and placing an embargo on oil exports to the United States and other countries backing Israel. That was the start of the 1973 oil crisis. [4] [verification needed]