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Old 06-26-2008, 05:05 PM
 
Location: Charlotte, NC (in my mind)
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For those who were around during the late '70s and early '80s, how did the oil crisis then compare to that of today? What were the effects on the economy, etc?

How exactly did the crash occur and could it happen again?
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Old 06-26-2008, 05:30 PM
 
Location: America
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Originally Posted by bchris02 View Post
For those who were around during the late '70s and early '80s, how did the oil crisis then compare to that of today? What were the effects on the economy, etc?

How exactly did the crash occur and could it happen again?
that was a shortage based on politics. America had peaked by then and could no longer provide for it's own oil. So that is one difference (the sharp prices were a political move)
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Old 06-26-2008, 06:10 PM
 
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Originally Posted by Wild Style View Post
that was a shortage based on politics. America had peaked by then and could no longer provide for it's own oil. So that is one difference (the sharp prices were a political move)
All true, but I think one could draw some legit comparisons down the human level. Then as now, US autos took a HUGE dive. Some makers went right out of the market. EVERYONE, EVERYWHERE went on big time insulation binges for their buildings, high mileage cars boomed. I think I recall the Honda Civic was going bonkers like the Prius, now.

The CAFE ratings forced the mileage up and wider exploration worldwide increased the total amount of fuel on the market. On the direct economic level, the Fed waited until after the Reagan election and drove interest rates to near 20% (or so -- am I remembering correctly?) Up until that, commodities were flying high as they are now. Between the recession from the high interest rates, and the reduced fuels use, the energy market tanked by the mid-80's.

Solar, renewables and all related items tanked as well, and much research sat dormant from then. Some of the basic design data I started into the RE design field was from 1970;s information.

Sort of funny, but you are probably familiar with some of the UPS's (Uninteruptable Power Supply) that you may use for your PC, or even large networks are from that legacy. APC -- one the largest brands began as a Solar Electric (PV) company from some guys from MIT. When Solar tanked, they used the same electronics and inverters to run UPS for Computer Networks that were on the rise by the mid 80's.
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Old 06-26-2008, 06:12 PM
 
Location: America
6,987 posts, read 15,763,522 times
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^^

touche sir
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