No 1973 Oil Shock

What if there had been no oil shock in 1973? Would this avert the stagflation of the 1970s? If so, would this avert the neoliberal economic refor,ms that took place in the 1980s and onwards, such as Reaganomics, Rogernomics and Thatcherism and avert their consequences? How would the 1970s go differently? How would this effect the auto industry and the manufacturing industry in the US and other developed countries? What if?
 

Delta Force

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What if there had been no oil shock in 1973? Would this avert the stagflation of the 1970s? If so, would this avert the neoliberal economic refor,ms that took place in the 1980s and onwards, such as Reaganomics, Rogernomics and Thatcherism and avert their consequences? How would the 1970s go differently? How would this effect the auto industry and the manufacturing industry in the US and other developed countries? What if?

The 1979 crisis is when people's attitudes and the actual electricity market really adjusted to the reality of scarcity. The 1973 crisis was seen as an anomaly at the time. At least in the electricity sector, things were starting to rebound towards historical patterns within a few years. Petroleum started to decline in terms of its contribution to electrical generation in the United States after 1973, but in terms of real generation the peak was actually in 1975.

Without the energy crises though, consumption would have kept on doubling. By 1983 the United States would be consuming twice as much energy as it was in 1973. There would eventually be the risk of a system shock occurring due to turmoil somewhere in the world, weather conditions disrupting operations on the Mississippi River or Gulf of Mexico, or a strike or other problem with a major port or railroad infrastructure system.

A crisis was inevitable, it just would have been something else.
 
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