, decreased production of oil led to a stagnating economy and surging inflation due to higher gas prices. These effects were amplified in the early part of that decade when the OPEC nations agreed to cut production both to raise prices and in response to the Nixon Administration’s support for Israel and its decision to weaken the dollar by coming off the gold standard. The impact of this made the 1970s a tumultuous time both economically and socially.
– that’s in part due to its export of liquid natural gas. Plus the fungible nature of the world oil markets combined with America’s love affair with internal combustion engines means that our politics can be held hostage to the interest of authoritarian nations. In this case, OPEC’s move seems to be tied to the U.S. and Europe’s support of Ukraine in its fight for freedom against Russia.
to reduce its reliance on them. They see this as a benefit not only geopolitically, by taking themselves out of relying on other countries, but also as a boost for its tourism industry by clearing the skies of pollution.With a Louisiana megaproject complete, Sasol CEO Fleetwood Grobler is cutting risk and emissions at South Africa's energy leader. It won’t be easy, but green hydrogen might help.
Lie....US is not energy independent...not currently....fake news
LNG production & exports has just gone ballistic the past couple years. Now maybe we’ll build some pipelines to the fracking fields & capture all the natgas we’ve been flaring.
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