The 1979 (or second) oil crisis or oil shock occurred in the world due to decreased oil output in the wake of the Iranian Revolution. Despite the fact that global oil supply decreased by only ~4%, widespread panic resulted, driving the price far higher. The price of crude oil more than doubled to $39.50 per barrel over the next 12 months, and long lines once again appeared at gas stations, as they had in the 1973 oil crisis.
In 1980, following the outbreak of the Iran–Iraq War, oil production in Iran nearly stopped, and Iraq's oil production was severely cut as well. Economic recessions were triggered in the United States and other countries. Oil prices did not subside to pre-crisis levels until the mid-1980s.
After 1980, oil prices began a 20-year decline, except for a brief rebound during the Gulf War, eventually reaching a 60 percent fall-off during the 1990s. As with the 1973 crisis, global politics and power balance were impacted. Oil exporters such as Mexico, Nigeria, and Venezuela expanded production; the Soviet Union became the top world producer; North Sea and Alaskan oil flooded the market. It seemed that the United States of America and Norway had much more oil reserves than forecasted in the 1970s. OPEC lost influence.
|1979 oil crisis|
Graph of top oil-producing countries, showing drop in Iran's production
|Also known as||Second oil crisis|
Amid massive protests, the Shah of Iran, Mohammad Reza Pahlavi, fled his country in early 1979 and the Ayatollah Khomeini soon became the new leader of Iran. Protests severely disrupted the Iranian oil sector, with production being greatly curtailed and exports suspended. In November 1978, a strike by 37,000 workers at Iran's nationalized oil refineries initially reduced production from 6 million barrels (950,000 m3) per day to about 1.5 million barrels (240,000 m3). Foreign workers (including skilled oil workers) fled the country. On January 16, 1979, the Shah and his wife left Iran at the behest of Prime Minister Shapour Bakhtiar (a longtime opposition leader himself), who sought to calm the situation.
The rise in oil price benefited other OPEC members, which made record on profits. When oil exports were later resumed under the new Iranian government, they were inconsistent and at a lower volume, pushing the prices up. Saudi Arabia and other OPEC nations, under the presidency of Mana Al Otaiba, increased production to offset most of the decline, and in early 1979 the overall loss in worldwide production was about 4 percent.
OPEC failed to hold on to its prominent position, especially after Iran and Iraq went to war in 1980 and caused a further 10% drop in worldwide production – and by 1981, OPEC production was surpassed by other exporters like the USA. Additionally, its own member nations were divided among themselves. Saudi Arabia, a "swing producer" trying to gain back market share after 1985, increased production and caused downward pressure on prices, making high-cost oil production facilities less profitable or even unprofitable.
The oil crisis had mixed effects in the United States, due to some parts of the country being oil-producing regions and other parts being oil-consuming regions. Richard Nixon had imposed price controls on domestic oil. Gasoline controls were repealed, but controls on domestic US oil remained.
The Jimmy Carter administration began a phased deregulation of oil prices on April 5, 1979, when the average price of crude oil was US$15.85 per barrel (42 US gallons (160 L)). Starting with the Iranian revolution, the price of crude oil rose to $39.50 per barrel over the next 12 months (its all-time highest real price until March 3, 2008.) Deregulating domestic oil price controls allowed U.S. oil output to rise sharply from the large Prudhoe Bay fields, while oil imports fell sharply.
As the average vehicle of the time consumed between two and three liters (about 0.5–0.8 gallons) of gasoline (petrol) an hour while idling, it was estimated that Americans wasted up to 150,000 barrels (24,000 m3) of oil per day idling their engines in the lines at gas stations.
During the period, many people believed the oil companies artificially created oil shortages to drive up prices, rather than factors beyond human control or the US's own price controls. The amount of oil sold in the United States in 1979 was only 3.5 percent less than the record set for oil sold the year previously. A telephone poll of 1,600 American adults conducted by the Associated Press and NBC News and released in early May 1979 found that only 37% of Americans thought the energy shortages were real, 9% were not sure, and 54% thought the energy shortages were a hoax.
Many politicians proposed gas rationing; one such proponent was Harry Hughes, Governor of Maryland, who proposed odd-even rationing (only people with an odd-numbered license plate could purchase gas on an odd-numbered day), as was used during the 1973 Oil Crisis. Several states actually implemented odd-even gas rationing, including California, Pennsylvania, New York, New Jersey, Oregon, and Texas. Coupons for gasoline rationing were printed but were never actually used during the 1979 crisis.
On July 15, 1979, President Carter outlined his plans to reduce oil imports and improve energy efficiency in his "Crisis of Confidence" speech (sometimes known as the "malaise" speech). It is often said that during the speech, Carter wore a cardigan (he actually wore a blue suit)  and encouraged citizens to do what they could to reduce their use of energy. He had already installed solar hot water panels on the roof of the White House and a wood-burning stove in the living quarters. However, the panels were removed in 1986, reportedly for roof maintenance, during the administration of his successor, Ronald Reagan.
Carter's speech argued the oil crisis was "the moral equivalent of war". Critics, then and now, argued that his varied proposals would make the situation worse, not better. In November 1979, Iranian revolutionaries seized the American Embassy, and Carter imposed an embargo against Iranian oil. In January 1980, he issued the Carter Doctrine, declaring: "An attempt by any outside force to gain control of the Persian Gulf region will be regarded as an assault on the vital interests of the United States." Additionally, as part of his administration's efforts at deregulation, Carter proposed removing price controls that had been imposed by the administration of Richard Nixon before the 1973 crisis. Carter agreed to remove price controls in phases; they were finally dismantled in 1981 under Reagan. Carter also said he would impose a windfall profit tax on oil companies. While the regulated price of domestic oil was kept to $6 a barrel, the world market price was $30.
In 1980, the U.S. Government established the Synthetic Fuels Corporation to produce an alternative to imported fossil fuels.
When the price of West Texas Intermediate crude oil increased 250 percent between 1978 and 1980, the oil-producing areas of Texas, Oklahoma, Louisiana, Colorado, Wyoming, and Alaska began experiencing an economic boom and population inflows.
In response to the high oil prices of the 1970s, industrial nations took steps to reduce their dependence on OPEC oil. Electric utilities worldwide switched from oil to coal, natural gas, or nuclear power; national governments initiated multibillion-dollar research programs to develop alternatives to oil; and commercial exploration developed major non-OPEC oilfields in Siberia, Alaska, North Sea, and Gulf of Mexico. By 1986, daily worldwide demand for oil dropped by 5 million barrels, non-OPEC production rose by an even-larger amount, and OPEC's market share sank from 50% in 1979 to just 29% in 1985.
At the time, Detroit's "Big Three" automakers (Ford, Chrysler, GM) were marketing downsized full-sized automobiles like the Chevrolet Caprice, the Ford LTD Crown Victoria and the Dodge St. Regis which met the CAFE fuel economy mandates passed in 1978. Detroit's response to the growing popularity of imported compacts like the Toyota Corolla and the Volkswagen Rabbit were the Chevrolet Citation, and the Ford Fairmont; Ford replaced the Ford Pinto with the Ford Escort and Chrysler, on the verge of bankruptcy, introduced the Dodge Aries K. GM was having unfavorable market reactions to the Citation, and introduced the Chevrolet Corsica and Chevrolet Beretta in 1987 which did sell better. GM also replaced the Chevrolet Monza, introducing the 1982 Chevrolet Cavalier which was better received. Ford experienced a similar market rejection of the Fairmont, and introduced the front wheel drive Ford Tempo in 1984.
Checker Motors, known for its iconic Marathon sedans used for the taxicab livery, ceased its automotive production in 1982 transitioning to stamping sheetmetal for GM. American Motors, the final independent manufacturer outside of Detroit's Big Three, entered into a joint venture with Renault where its mass market automobiles were sold alongside the remaining AMC product lineup which have declined in sales while AMC's Jeep division was profiting, especially with the introduction of its downsized XJ sport utilities which led to the company's demise (its homegrown compacts dating back to 1970 – they were phased out in 1983 (with the exception of the Eagle 4WD wagon making it the final AMC designed product) and financial woes with the Renault partnership ended the reign of the final independent. Renault ended up owning 100% of AMC in 1982 (resulting in the divestment of AM General) until late 1986 where they sold AMC's shares to Chrysler Corporation. They later absorbed AMC in late 1987 where the Jeep division is now part of Chrysler (now FCA automobiles).
Detroit was not well prepared for the sudden rise in fuel prices, and imported brands (primarily the Asian marques which were mass marketed and had a lower manufacturing cost as opposed to British and West German brands - the rising value of the Deutsche Mark and English Pound resulted in the transition to the rise of Japanese manufacturers where exporting their product from Japan at a lower cost would yield profitable gains despite accusations of price dumping) were now more widely available in North America and had developed a loyal customer base - the Japanese Big Three launched their respective advertisement campaigns (Honda with its 'We Make It Simple' tagline, Datsun (Nissan after 1984) with the tagline 'We Are Driven', and Toyota with 'Oh What A Feeling' (they ran a previous ad campaign prior to 1979 where the company mocked the Plymouth Volare with the tagline 'You Asked For It – You Got It') – luring away traditional Big Three consumers (Subaru in the late 1970s ran an ad campaign where former owners of a Big Three automobile drove their products – one TV ad started with the tagline 'Ford drives Subaru').
A year after the 1979 Iranian Revolution, Japanese manufacturers surpassed Detroit's production totals becoming first in the world. Japanese exports would later displace the automotive market once dominated by lower tier European manufacturers (Alfa Romeo, Fiat, Opel, Peugeot, MG, Triumph, Citroen). Some would declare bankruptcy (e.g. Triumph, Simca) or withdraw from the U.S. market, especially in the wake of grey market automobiles or the inability of the vehicle to meet DOT requirements (from emission requirements to automotive lighting). Many imported brands utilized fuel saving technologies such as fuel injection and multi-valve engines over the common use of carburetors. Also, the imported brands used their innovative business ethic e.g. a just-in-time inventory system but the U.S. Government imposed import quotas where the Japanese brands (later extended to South Korean and European marques) began outsourcing their operations by opening assembly plants in the United States (especially the Southern U.S. where import automakers were not on friendly terms with labor unions from the Rust Belt states), Canada, and Mexico to produce their mass market automobiles and light trucks. The Japanese (and later South Korean) brands which assembled its automobiles on U.S. soil had exterior dimensions which were sized to its domestic counterparts and engine displacement over 2.0 liters for the USA market (Japanese regulations on vehicle sizing and engine displacement determines the road tax paid on an annual basis which is not practiced in the US and Canada).
Import brands also complied with local content laws where an import automobile must have a percentage of automotive components (in the United States automobiles with 70 percent local content manufacture is considered a domestic build regardless of manufacturer) sourced from the United States, Canada, or Mexico (prior to the establishment of NAFTA) and the American Automobile Labeling Act of 1994 which mandated the percentage of automotive parts content printed on the Monroney sticker of an automobile sold through a dealership. The import quota resulted in the Japanese automakers importing a limited amount of automobiles but to comply with the U.S. Government imposition of the 1981 Voluntary Export Restraints, the automakers established their respective luxury marques (Acura, Lexus, Infiniti) but run respectively by their parent manufacturers (Honda, Toyota, Nissan). GM's Cadillac division experimented with their V8-6-4 power plant (the ancestor of the modern-day Active Fuel Management and/or variable displacement), which was a market failure. Nonetheless, overall fuel economy increased, which was one factor leading to the subsequent 1980s oil glut.
The mission of the 15th Strike Wing is to conduct tactical air operations in support of Armed Forces of the Philippines units. The unit is headquartered at Danilo Atienza Air Base, Sangley Point, Cavite, just outside the capital Manila. The Wing, as of 2009, was organized with Personal, Coordinating and Technical Staff. Under the Wing's command were units broken up into 3 major groups: Tactical, Maintenance and Supply, and Air Base. The Wing's tactical elements included the 16th, 17th, 18th, and 20th Attack Squadrons and the 25th Composite Attack Squadron. Many of these units were forward deployed under the operational control of the Philippine Air Force's numerous Tactical Operations Groups. The 460th Maintenance and Supply Group and the 590th Air Base Group filled the other roles.1973 oil crisis
The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. The embargo was targeted at nations perceived as supporting Israel during the Yom Kippur War. The initial nations targeted were Canada, Japan, the Netherlands, the United Kingdom and the United States with the embargo also later extended to Portugal, Rhodesia and South Africa.
By the end of the embargo in March 1974, the price of oil had risen from US$3 per barrel to nearly $12 globally; US prices were significantly higher. The embargo caused an oil crisis, or "shock", with many short- and long-term effects on global politics and the global economy. It was later called the "first oil shock", followed by the 1979 oil crisis, termed the "second oil shock."1980 in the United States
Events from the year 1980 in the United States.Billy Carter
William Alton Carter (March 29, 1937 – September 25, 1988) was an American farmer, businessman, brewer, and politician, and the younger brother of U.S. President Jimmy Carter. Carter promoted Billy Beer and was a candidate for mayor of Plains, Georgia.Economic history of the Philippines (1965–86)
The 21-year period of Philippine economic history during Ferdinand Marcos’ regime – from his election in 1965 until he was ousted by the People Power Revolution in 1986 – was a period of significant economic highs and lows.The early part of Ferdinand Marcos' administration continued the rising growth rate which characterized the previous administrations of the Third Philippine Republic, peaking at nearly 9 percent in 1973 and 1976. However, Marcos' later years in power saw the worst recession in Philippine history, with the economy contracting by 7.3% in 1984 and 1985.The dramatic rise and fall of the Philippine economy during this period is attributed to the Marcos administration's heavy dependence on foreign loans, its policy of establishing monopolies under Marcos cronies which resulted in significant income inequality, corruption by government officials, and the capital flight which has historically been attributed to the Marcos family's economic plunder.Emily Dolvin
Emily Frances Gordy Dolvin (October 3, 1912 – December 2, 2006), also known as Aunt Sissy, was an American educator, historic preservationist, political campaigner and civic leader from the state of Georgia.
Dolvin was born in 1912 in Richland, Georgia as the youngest of Mary Ida Nicholson (1871–1951) and James Jackson Gordy's (1863–1948) nine children. Her sister Lillian Gordy Carter was the mother of Jimmy Carter, the 39th President of the United States.
After graduating from the Georgia College for Women in Milledgeville, Georgia, Dolvin taught primary school. In 1938, she married William Jasper Dolvin and moved to Roswell, Georgia. Her husband was an elementary school principal and insurance agent, and Dolvin Elementary School in Alpharetta, Georgia is his namesake.
In 1951, Emily Dolvin participated in the organization of the Roswell Youth Recreation Committee. This committee created the Roswell Recreation and Parks department. She was also the inaugural chairperson of the Roswell Historical Society upon its establishment on October 28, 1971. The Roswell Rotary Club named her a William Watt Fellow, and she was the first female member of that organization.
In 1966, Dolvin became involved in the support of the political career of her nephew Jimmy and was often referred to as Jimmy Carter's Aunt Sissy. In 1970, she was a staff member, host, and delegate for the Georgia Democratic Party, and she was the inauguration reception chairman for Carter's inauguration as governor of Georgia in 1971, and served as the volunteer coordinator for Carter’s gubernatorial campaigns. Dolvin also served as a member of the Commission on the Status of Women from August 11, 1972 to April 1, 1974.
During Carter's 1976 presidential campaign, Dolvin campaigned throughout the United States as one of many volunteers that comprised the grass roots Peanut Brigade. However, she was not an official member of the Peanut Brigade. She was campaigning as a member of the family. The Peanut Brigade was a different organization altogether. In 1976, Time magazine referred to her as a “tiny, stylishly dressed, white-haired dynamo” and the secret weapon of Carter’s campaign. Dolvin served as the coordinator of docents for the Carter Center from its inception in 1986.
Dolvin’s personal home, the W.J. Dolvin house, is located next to Bulloch Hall in the Historic District of Roswell and is often referred to as “President Jimmy Carter’s Roswell White House”. It is one of the few examples of late-Victorian architecture in that city.
An elder of the Roswell Presbyterian Church, Dolvin also founded the Refuge Resettlement Ministry. In 1992, Dolvin married a second time to Hubert “Hu” B. Visscher, but never legally took his name. She was named to the list of Roswell’s 15 Most Remarkable Citizens in 2004. Dolvin died at age 94 of congestive heart failure at her Roswell home on December 2, 2006.Energy industry
The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy industry is a crucial part of the infrastructure and maintenance of society in almost all countries.
In particular, the energy industry comprises:
the petroleum industry, including oil companies, petroleum refiners, fuel transport and end-user sales at gas stations
the gas industry, including natural gas extraction, and coal gas manufacture, as well as distribution and sales
the electrical power industry, including electricity generation, electric power distribution and sales
the coal industry
the nuclear power industry
the renewable energy industry, comprising alternative energy and sustainable energy companies, including those involved in hydroelectric power, wind power, and solar power generation, and the manufacture, distribution and sale of alternative fuels
traditional energy industry based on the collection and distribution of firewood, the use of which, for cooking and heating, is particularly common in poorer countriesHugh Carter
Hugh Alton Carter, Sr. (August 13, 1920 – June 24, 1999) was an American politician and businessman from Georgia.IRVW II
The IRVW II („Integrated Research Volkswagen“) is a modified Volkswagen Passat (B2) from 1980. It was built for research on fuel economy in automobiles.It had a 1300 cc engine, 997 kg weight and top speed 160 km/h. It was developed under Ulrich Seiffert by Ernst Fiala.Releasing the accelerator shuts down the engine and the vehicle automatically changes the vehicle into gliding. It saved up to 2 l/100 km compared to not using the Formula E. The engine was automatically restarted by using the accelerator. A similar feature was later known as the start-stop system. Depending on the road terrain conditions, it was possible to cover up to half of the way in gliding mode. Since gliding was not taken up into legislation of consumption and taxation, automatic engine shutdown made not its way into production. The additional costs for the new car would have been amortized by saving gasoline in two years average use. After the 1973 oil crisis and the 1979 oil crisis, the concept marketed as Formula E stood for energy saving and expanded the features of the IRVW II. A green indicator light with an upward pointing arrow in the cockpit recommended the driver to shift up the manual gear box. Ford used this indicator in the 2000s in series. In the e-gear, the then newly installed in cars fifth gear in manual transmissions, a reduction in engine speed was achieved, but not on the vehilce speed, due headwind at this speed. An ecometer showed in e-gear consumption in l/100 km.The catalytic converter was already present in 1975 in the US. It was required at this time in 1980, but not on the European market, where leaded fuel which is not combatible with the catalytic converter, disappeared in 1987 from the filling stations in West Germany.
In 1995 Toyota filed the patent on a concept that includes gliding without drivers attention, but also a planetary gearset and electric drive, the predecessor of the Hybrid Synergy Drive, known as a major concept of hybrid vehicles which also keep the internal combustion engine operating inside the economic area of the consumption map.Israel–South Korea relations
Israel–South Korea relations refers to the diplomatic, commercial and cultural ties between Israel and South Korea. South Korea has maintained relations with Israel since 1948, and in 1962 both states initiated official diplomatic relations. Israel and South Korea have expressed interest in strengthening the relationship in all areas, particularly defense, but also renewable energy, science and technology, and bilateral trade.Jimmy Carter Library and Museum
The Jimmy Carter Library and Museum in Atlanta, Georgia houses U.S. President Jimmy Carter's papers and other material relating to the Carter administration and the Carter family's life. The library also hosts special exhibits, such as Carter's Nobel Peace Prize and a full-scale replica of the Oval Office as it was during the Carter Administration, including a reproduction of the Resolute desk.
The Carter Library and Museum includes some parts that are owned and administered by the federal government, and some that are privately owned and operated. The library and museum are run by the National Archives and Records Administration and are part of the Presidential Library system of the federal government. Privately owned areas house Carter's offices and the offices of the Carter Center, a non-profit human rights agency.
The building housing the library and museum makes up 69,750 square feet (6480 m²), with 15,269 square feet (1419 m²) of space for exhibits and 19,818 square feet (1841 m²) of archive and storage space. The library stacks house 27 million pages of documents; 500,000 photos, and 40,000 objects, along with films, videos, and audiotapes. These collections cover all areas of the Carter administration, from foreign and domestic policy to the personal lives of President and Mrs. Carter.
The complex lies next to John Lewis Freedom Parkway, which was originally called "Presidential Parkway" (and at one point, "Jimmy Carter Parkway") in its planning stages.Mary Prince (nanny)
Mary Prince (born 1945; also called by her married name Mary Fitzpatrick until the couple officially separated in 1979) is an African American woman wrongly convicted of murder who then became the nanny for Amy Carter, the daughter of US President Jimmy Carter and his wife Rosalynn Carter, and was eventually granted a full pardon.Nairobi Agreement, 1999
The 1999 Nairobi Agreement was a deal signed by Presidents Yoweri Museveni of Uganda and Omar al-Bashir of Sudan in Nairobi, Kenya, on 8 December 1999. The stated intent of the agreement was to "provide the critical impetus for resolving the northern Uganda conflict." The deal was brokered by former US president Jimmy Carter.National Energy Program
The National Energy Program (NEP) was an energy policy of the Government of Canada from 1980 to 1985. It was created under the Liberal government of Prime Minister Pierre Trudeau by Minister of Energy Marc Lalonde in 1980, and administered by the Department of Energy, Mines and Resources.New York Airways
This article discusses the helicopter airline, which should not be confused with the 1980s startup airline, New York Air.New York Airways was a helicopter airline in the New York City area, founded in 1949 as a mail and cargo carrier. On 9 July 1953 it may have been the first scheduled helicopter airline to carry passengers in the United States, with headquarters at LaGuardia Airport. Although primarily a helicopter airline operator with scheduled passenger operations, New York Airways also flew fixed wing aircraft, such as the de Havilland Canada DHC-6 Twin Otter 19-passenger STOL twin turboprop aircraft.Oil crisis
Oil crisis may refer to:
1970s1970s energy crisis
1973 oil crisis, the first oil crisis, in which prices increased 400%
1979 oil crisis, in which prices increased 100%Post 1970sOil price increase of 1990 (the "mini oil-shock"), in which prices increased for 9 months
2000s energy crisisDevelopingPeak OilPortishead power station
Portishead Power Station refers to a series of two coal and oil-fired power stations which operated in the dock area of Portishead in Somerset, South West England, between 1929 and 1982.
The original coal-fired Portishead power station was built by Bristol Corporation's Electricity Department and started generating in 1929. It was later expanded, and renamed Portishead A Power Station after Portishead B Power Station opened in the early 1950s. The newer station had one-third of its boilers oil-fired and two-thirds coal-fired. Both power stations were later converted to fully oil-fired operation.
They closed in the late 1970s and early 1980s respectively, and the buildings and dock area were demolished and cleared. The site of the two power stations is now occupied by housing and the dock has become a marina.Reform State
The Reform State or Reformist State (Estado reformista) is a period in Costa Rican history characterized by the change in political and economic paradigm switching from the uncontrolled capitalism and laissez faire of the Liberal State into a more economically progressive Welfare State. The period ranges from approximately 1940 starting with the presidency of social reformer Rafael Angel Calderón Guardia and ends around the 1980s with the first neoliberal and Washington Consensus reforms that began after the government of Luis Alberto Monge.Steel crisis
The steel crisis was a recession in the global steel market during the 1973–75 recession and early 1980s recession following the post–World War II economic expansion and the 1973 oil crisis, further compounded by the 1979 oil crisis, and lasted well into the 1980s.
Steel prices dropped significantly as the market became saturated with steel from previous demand, and many steel mills in the Western world were driven out of business. Some areas affected by the steel crisis were the Rust belt in North America, the English Midlands in the United Kingdom, the Ruhr area in West Germany and Bergslagen in Sweden.