Word: oiled
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Dates: during 1980-1989
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...major event in energy of the 1970s was the first oil shock, which resulted in the quadrupling of world oil prices and fundamentally changed the outlook for energy supplies. In effect, the 1973-74 Arab reduction in oil output and embargo transformed Middle East oil from a low-cost, secure supply to a high-cost, insecure source. That event meant that the United States needed to adopt an energy policy that would recognize the increasingly higher value and cost of energy supplies...
...second oil shock, which was brought about by the shutdown of the Iranian oil industry, has resulted in a telescoping of events that most experts thought would take 20 years to occur. In other words, the doubling of world oil prices last year was not expected to take place until the year 2000 or beyond...
...Soviet intervention poses a serious threat to our oil supply from the Persian Gulf, Samuel P. Huntington, Thomson Professor of Government, said yesterday...