Four lessons from the energy crisis of 1970s

I was in Canberra this week, in part to hear International Energy Agency head Fatih Birol warn that today’s oil price shock will rival the twin Middle East energy shocks of the 1970s.  The 1973 and 1979 shocks promoted using smaller and more fuel-efficient vehicles. And it prompted a wave of nuclear energy development in Japan, Europe and North America. Today’s oil price shock will have comparable repercussions, Birol predicts.   Here’s the four take outs I picked up at a National Security College conference, where I was on a panel, and the annual Minerals Council of Australia Minerals Week Conference, where I moderated a session:   👉 Join CIS: 🔹 Become a member: https://www.cis.org.au/membership-2-step-1/ 🔹 Make a donation: https://www.cis.org.au/support/donate/today/ 🔹 Learn more: https://www.cis.org.au/