Abstract
WHEN OIL SHIPMENTS were restricted and even embargoed by the Arab producing countries following the Egyptian invasion of Israel on October 6, 1973, the world suddenly found itself confronted with what has come to be referred to as the “energy crisis.” This was not the first occasion on which oil deliveries from the Middle East had been cut off. It was, however, the first occasion on which the curtailment was accompanied by an explosion in prices.
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Notes
85th Cong., 1st Sess., Report of the Senate Subcommittee on Antitrust and Monopoly, Petroleum, the Antitrust Laws and Government Policies (Senate Report No. 1147), 1957, p. 97.
M. King Hubbert, “World Energy Resources,” paper before the 10th Commonwealth Mining and Metallurgical Congress, 1974, p. 48.
91st Cong., 1st Sess., Senate Subcommittee on Antitrust and Monopoly, Hearings on Governmental Intervention in the Market Mechanism, The Petroleum Industry, 1969, Pt. 1, pp. 18–19. (Hereafter referred to as Hearings on Governmental Intervention.)
M. King Hubbert, “Energy Resources,” in Resources and Man, National Academy of Sciences, National Research Council, 1969, p. 43.
M. King Hubbert, “World Energy and the Fossil Fuels,” Drilling and Productive Practice, 1956.
C. R. Bedoun and H. V. Dunnington, The Petroleum Geology and Resources of the Middle East, Scientific Press, Ltd., Beaconsfield, Bucks, England, 1975.
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© 1976 John M. Blair
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Blair, J.M. (1976). The Energy Crisis. In: The Control of Oil. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-81487-9_1
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