The inability of economists to correctly predict crude oil price and supply patterns during the Arab oil embargoes in the early-1970s raises questions concerning the probable behavior of crude oil price and supply patterns in the 2005-2007 period. Two questions are relevant. The first question requires an explanation of why price and supply patterns were not predicted with greater accuracy in the early-1970s. The second question involves the implications for the 2005-2007 period of the 1970s experience.
CPI & Energy Prices from 1993-2002.... in the face of apparent supply sufficiency, politicians .... Existing production/consumption patterns might be able to .... explanation for the crude oil price rises in .... (1416 6 )
Alternative Fuels for Transportation INTRODUCTION The Research .... Supply sufficiency was defined as the availability of a sufficient supply of a fuel to .... Crude oil and modern history .... Gas wars: Retail gasoline price fluctuations .... (2940 12 )
Feasibility of Alternative Fuels.... fuels continues to characterize an important component of the supply side of the .... Crude oil and modern history. .... Gas wars: Retail gasoline price fluctuations. .... (1634 7 )
1973 Energy Crisis 1973: THE GREAT SHOCK I Introduction.... the Middle Eastern crude replaced Texas crude as the .... its winter power shortage was not linked to oil supply). .... 74, however, the 1979-80 oil price spike proved .... (5003 20 )
The Great Shock of 1973 1973: THE GREAT SHOCK I .... the Middle Eastern crude replaced Texas crude as the .... its winter power shortage was not linked to oil supply). .... 74, however, the 1979-80 oil price spike proved .... (5014 20 )
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