tag:blogger.com,1999:blog-8861605.post7248465473120827396..comments2024-02-20T13:32:06.704-05:00Comments on Resource Insights: Wonders yet to come: A sound basis for energy policy?Kurt Cobbhttp://www.blogger.com/profile/05330759091950742285noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8861605.post-86652735234814205262014-01-08T05:31:49.591-05:002014-01-08T05:31:49.591-05:00Today, the U.S. still imports more oil than in 197...<b>Today, the U.S. still imports more oil than in 1973 (the Yom Kippur War) and in 1981 (the beginning of the Iran–Iraq war).</b><br /><br />Currently, the U.S. is importing 7,4 million barrels per day (the last figure available).<br /><br />In 1973, the U.S. imported 6 million barrels per day.<br />In 1981, the U.S. imported 5,4 million barrels per day.<br /><br />Despite this situation, the U.S. economy sank in 1973 and in 1981.<br /><br />In 1973, the oil crisis in the Middle East ended the post-World War II economic boom and the recession in the U.S. lasted from November 1973 to March 1975.<br />Unemployment rate jumped from 4.9% in 1973 to 8.5% in 1975.<br /><br />In 1981, after the beginning of the Iran–Iraq war, a new recession began and ended in November 1982.<br />By November 1982, unemployment reached 10.8%, the highest rate since the Depression.Anonymousnoreply@blogger.com