Robert Lifset: A New Understanding of the American Energy Crisis of the 1970s. [Abstract]
The energy crisis of the 1970s in the United States consisted of three separate but related problems in the oil, natural gas, and utility sectors of the energy economy. The OPEC price increases and the OAPEC embargo of 1973 merely exacerbated existing problems. This article traces these problems over several decades and their development into a crisis in the early 1970s.