1970s: Oil Crisis. Stagflation Combination of soaring prices, the high unemployment, and low economic growth.

Slides:



Advertisements
Similar presentations
Ford and Carter Administrations
Advertisements

Oil Embargo Dependency on foreign oil – OPEC – Organization of Petroleum Exporting Countries OPEC did what to oil prices in the 1960s? Yom Kippur War –
Chapter 21 Section 3 The Economic Crisis of the 1970s.
1970’s. Gerald Ford Dealt with Organization of Petroleum Exporting Countries (OPEC) Israel went to war with Syria and Egypt – U.S. backed Israel – OPEC.
1.Buy local food to reduce food transportation over long distances. 2.Set your refrigerator temperature to 37°F and your freezer close to 3°F. 3.Turn down.
1970’s Oil Crisis. Background Information October 1973 OAPEC cuts off exports to the U.S. and other western countries Why? –Arab countries were upset.
Drivers waiting for hours and limited to 10 gallons.
Energy Resources Human Impact on the Environment.
Energy Resources Senior Seminar: Spaceship Earth Summer 2008.
Renewable vs. Non-Renewable. Defined: Examples: Examples : Limited supply – may run out and will not be replaced in our lifetimes. May never run out,
Essential Question What were the important events of the Carter presidency?
Nixon Administration Return to Conservatism 20.5 Nixon and the Cold War.
By: David Radich Gas Prices APUSH period 4. Gas prices are rising due to inflation, high demand rates in the United States, and currently because the.
Jimmy Carter Attempting to lead the US through both domestic & foreign crises.
Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Chapter 38 Energy Prices.
Explain whether you believe President Ford made the right decision pardoning Nixon for his involvement in the Watergate Scandal? A pardon is the forgiveness.
The Science and Economics of Energy: Learning about Solar Energy.
Presidents Ford and Carter Chapter 28. Economy of the 1970s Prosperity widespread after WWII in US Mid-1960s (Johnson Admin.) ▫Widespread spending on.
THE 1970S Chapter 24 UNIT 7 SEMESTER 2.
Please pull out a scratch piece of paper In one minute I want you to make a list of ALL of the things you can think of that wouldn’t be possible without.
Have out Nixon reflection writing to check Gerald Ford notes and video clips Jimmy Carter notes and video clips Iran Hostage Crisis reading & questions.
Depletion of Energy in the World and Alternative Forms of Energy.
Nixon’s Domestic Policies. President Nixon sought to turn the US in a more conservative direction – He had a plan, called New Federalism, in which the.
I. Israel’s Role in U.S. Foreign Policy. A. Birth of Israel Problem: many Jews immigrated into the Middle East during and after World War II. Why? “Zionist.
Read the info and look at the picture on the back of your notes. Complete the following on your warm-up sheet: 1. List the products that are created from.
Exchange Rate Experience Between the Oil Shocks, Megan Garcia; Jessica Hoffer.
Paul Norman Forrest Taliaferro.  OPEC imposed an embargo on oil shipments to U.S. and the Netherlands.  Buyers tried to build precautionary inventories,
Today – one colored pencil OPEC Open up book to Page 670 (Oil Embargo) 5 volunteers to read for extra credit. Date Change for Makeup Work – May 17 th.
ECONOMICS Practice Test. INFLATION SUPPLY & DEMAND TRADE DEFICIT EMBARGO DEPRESSION RECESSION.
Jimmy Carter Enters the White House. Election of 1976 In the 1976 Presidential Election, the Republicans nominated the sitting president Gerald Ford as.
The Presidency of Jimmy Carter. Jimmy Carter became the 39 th President of the United States in 1977 Carter narrowly defeated the incumbent, Gerald Ford.
Energy Use in the Unites States. Where was energy used?
The Presidencies of Nixon, Ford & Carter U.S. History Goal 12.
Ford and Carter. Ford As Gerald Ford took over, he faced many problems in America Economy starts to fall –Johnson’s spending catches up to the government.
1970’s. Oil Crisis Yom Kippur War Oil Crisis –Imported 33% of our oil –OPEC (Organization of Petroleum Exporting Countries) – embargo Impact –1974 – embargo.
Ford and Carter’s Presidencies. Economic Problems Arise -US enjoyed great prosperity in the 50s and 60s -mid-60s = rapid inflation 1.Vietnam war 2.Great.
 July 20, 1969: Apollo 11 with Michael Collins, Buzz Aldrin and Neil Armstrong land on the moon.  Visits Communist China and the USSR (1972)  Strategic.
Changes in the American Economy: The Energy Crisis, Deindustrialization, and the Service Economy.
Changes in the American Economy: The Energy Crisis, Deindustrialization, and the Service Economy.
Energy Information Administration 25th Anniversary of the 1973 Oil Embargo 25th Anniversary of the 1973 Oil Embargo Energy Trends Since the First Major.
Fossil Fuel Creation; millions of years. Three main types of fossil fuels Coal (rock): Once ~80% of US energy, now ~22% Crude oil (gasoline, liquid);
OPEC: What is it and what does it do?. OPEC - Organization of Petroleum Exporting Countries.
 60EY&list=PLCGtWrfZ32ai9EH4QmRzV4Ywu XQKwytz4 60EY&list=PLCGtWrfZ32ai9EH4QmRzV4Ywu.
OIL POLITICS Lesson Students will analyze the impact of OPEC and oil consumption and what it means for the future.
Member of House of Representatives for 25 years Nixon’s appointed him to Vice President after Spiro Agnew resigned Took over as President when Nixon resigned.
The Presidency of Richard Nixon By the late 1960s, citizens had seen enough turmoil in U.S. foreign & domestic affairs.
History 102SY The United States and the Middle East 1900 to the Present.
On August 5, 1974, when the “smoking gun tape” became public, Nixon was told that he would not survive the vote in the Senate.
ECONOMIC CRISES A CHC 2D Canadian History Presentation.
The Nixon Years. I. Election of 1968  Richard Nixon defeated Hubert H. Humphrey  Democrats retained control of Congress  Nixon promised to bring America.
Changes in the American Economy: The Energy Crisis, Deindustrialization, and the Service Economy.
OIL PRICES. The New York Mercantile Exchange (NYMEX) is a commodity exchange which was founded in It handles billions of dollars worth of energy.
SS7E6 I can explain how voluntary trade benefits buyers and sellers in Southwest Asia.
Ford & Carter
Jimmy Carter.
America from 1974 to 1980 In the late 70s, the U.S. was “overextended”
Economic transformations in the 1970s
مدرسة القسطينة الثانوية للبنين
Modern American History
Stagflation & the Energy Crisis
The World’s Largest Cartel
Iran Hostage Crisis
A Crisis in Confidence ( )
America from 1974 to 1980 In the late 70s, the U.S. was “overextended”
AIM: Was the Carter Presidency a “Failure”?
4/30/13 Chapter 28, Presidents Gerald Ford and Jimmy Carter: Economic Crisis Aim: How did Presidents Ford and Carter both try to battle the economic crisis?
1970s and Nixon Pt 2 Foreign Policy.
Jimmy Carter.
Essential Question: In what ways did Presidents Ford & Carter fail to meet the needs of America in the late 1970s?
Domestic Policy: Nixon & Ford
Presentation transcript:

1970s: Oil Crisis

Stagflation Combination of soaring prices, the high unemployment, and low economic growth.

Oil Embargo Egypt and Syria attacks Israel The US airlifted supplies to Israel OPEC (Organization of Petroleum Exporting Countries) to impose an oil embargo against Israel's allies that lasted until March 18, 1974.

Oil Crisis Begins The oil embargo led to increased prices for all types of fuel, including gasoline, home-heating fuel, and electricity. Prices for everything else rose in response to high energy costs, causing record inflation.

U.S. Response Price of gas quadrupled in just a few months Many gas stations ran out of gas Drivers waited for up to two hours for gas License plates ending in odd numbers could fill up on odd days License plates with even numbers could fill up on even days

Coping with the Energy Crisis Jimmy Carter’s response: Jimmy Carter’s response: Americans were asked to: Americans were asked to: reduce air travel reduce air travel conserve oil conserve oil turn down thermostats by 6 degrees turn down thermostats by 6 degrees reduce highway speed limits (55 mph ) to conserve energy reduce highway speed limits (55 mph ) to conserve energy urged the use of coal and nuclear power rather than the limited commodity of oil. urged the use of coal and nuclear power rather than the limited commodity of oil.

Question How would your life change if your family was rationed to 10 gallons of gas/week?