2007 Marks the 35th Anniversary of the 1972-73 Oil Crisis
“Did you know that 2007 will mark the thirty-fifth anniversary of the 1972-73 oil crisis ?” Perhaps my generation did not feel the impact directly, but surely our parents and grandparents did ! A dramatic oil price increase led to one of the worst recessions that Europe had known since the 1930s. According to an economist friend, many of the problems we are facing in European societies today are also ramifications of this event that happened almost thirty-five years ago. Not…
