https://padlet.com/ryansajgalik/32ot9iov8dawxims en-us 2020-11-25 23:41:26 UTC 2020-12-01 01:12:35 UTC hello@padlet.com ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/961895175 This intent of this project is to highlight the conditions that ultimately built up to, and boiled over into a global crisis. ]]> 2020-11-25 23:42:26 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/961895175 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/961925871 This is a news report originally aired 06/12/1973, interviewing American citizens during the peak of the energy crisis and how it has been impacting them in their daily lives. 

I chose to include this as getting that first hand information as it was being experienced at the time is extremely illuminating and helps us to realize how massively this disrupted everyone's lives.]]> 2020-11-26 00:06:06 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/961925871 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/962021201 This chart very clearly indicates the price of oil before, during and after the crisis. As of 2013 this chart indicates that the price at that time was $18.46 less than the 1980 peak 33 years into the future. 

I choose to include this as visual representation of the cost over time is significantly easier to visualize the problem. Imagine if gas suddenly rose to $4 - $5/L, which would be roughly be equivalent to what prices would be if these same events were to happen today.]]> 2020-11-26 01:02:35 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/962021201 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/962056695 The Yom Kippur war was an invasion of Israel by the Federation of Arab republics whose main belligerents were Egypt and Syria leading the invasion. Expeditionary forces supporting them were many other oil producing nations of the Arab world such as Jordan and Iraq. This event is important because the ultimate Israeli victory that resulted was won with American material and support and highlights why the United States was the target of such an embargo.

Since the focus of this project is economic and not so much world history I have decided to not include a lengthy documentary about this subsection. However, this event is defined as the final straw causing the energy crisis, and I feel an understanding of this event is helpful to understanding the crisis itself.   ]]> 2020-11-26 01:23:10 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/962056695 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/962071222 In 1971, President Nixon is believed to have played a critical role in setting the stage for the crisis when he took the United States off of the gold standard. The ramifications of this meant the US dollar dropped dramatically and hurt OPEC nations whose petroleum contracts were in US dollars. This meant that millions of dollars were vanishing from OPEC treasury revenue 

I chose to include this website as it provides and excellent explanation of some of the events that helped set the stage.]]> 2020-11-26 01:30:47 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/962071222 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/969586099 This image has a focus on the processes that affects the cost of fuel, and is applicable to the Oil Crisis, but is more general in nature.

I elected to include this image because it breaks down some of the factors that affect fuel prices in a simple way.]]> 2020-11-30 00:34:05 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/969586099 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/969613275 This Website, discusses how that one of the ramifications of this crisis is why today fuel efficiency is one of the main selling points in a vehicle. Prior to the 1970's, fuel efficiency was not a primary consideration, or a consideration at all to some, and now when buying a vehicle it is one of the top priorities for many when buying a vehicle. In addition, this resource also talks about some was it has impacted the American lifestyle, such as decreased travel, more cognizant of heating their homes, lowering the legal speed limit to 55 miles per hour and even lowering the standard temperature in federal office spaces. This shift in thinking comes from the idea that many Americans at the time never wanted to be held hostage again by foreign importers.

This resource was included because it very nicely summarized the shift in American thinking after the crisis and points to the date and time when people started realizing that resources must be conserved because they will run out and when they do our way of life will change. ]]> 2020-11-30 00:48:44 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/969613275 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973499392 Canada, suffered like America during this crisis and subsequently affected policy for decades to come. In the year that followed the initial embargo, there was a exponential increase in oil and other energy exports to the US market which threatened national markets. 2 organizations which were created in wake of this was PETRO-CANADA, which aimed to increase exploration of off-shore areas likely to have oil reserves, and another organization was the Alberta Petroleum Marketing Commission which has large influence over provincial oil.  

This website is included because it shows that Canada was also significantly impacted by this crisis, several important organizations that have fairly large influence in the Canadian economy today have their roots in this crisis, and in addition to satisfy the requirements of Canadian content. ]]> 2020-11-30 21:19:25 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973499392 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973813909 In the early 1970's, when the factors that caused the Oil crisis were beginning to unfold, the Alberta oil rush began. The image of the bible belt in Alberta was replaced by the entrepreneurial spirit that likened the gold rush transformed the province. Soaring oil prices allowed for a rapid transformation of the province and helped it shape it into what we see today. However over-expansion and greed caused the 1980's recession in Alberta and within 2 more years the effect of this was felt in other parts of the country. 

I elected to include this source because it talks about how Alberta actually prospered during this time when a lot of other parts if the world were suffering form the effects of the crisis. In addition, this also satisfies the requirements of Canadian content. ]]> 2020-11-30 23:40:34 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973813909 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973901679 Here is a interesting video showing Canadian leaders discussing the crisis as it was happening. It is also interesting to see the partisanship of government retroactively during a historical crisis. 

I included this video because of the requirements of Canadian content, and I also thought it was interesting to see our own government acting as the crisis was unfolding ]]> 2020-12-01 00:27:33 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973901679 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973967903 A very similar situation that happened with Yom Kippur war unfolded with rising tensions between America and Iran earlier this year. A conflict almost broke out with minor clashes between the 2 nations. This report talks about the event directly relating it the oil crisis and how nowadays thankfully north America is significantly less reliant on foreign oil importers.

I chose to include this content because of requirements for Canadian content and because it very nicely contrasts the effects of a crisis today vs the crisis in 1973. ]]> 2020-12-01 00:57:32 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973967903 ryansajgalik https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973988661 1. What did you learn about your topic that surprised you the most?
- What surprised me the most was how extensive this crisis was as I had never heard about it prior to this project, and I also did not know how it related to the events in the Yom Kippur war

2. Provide a real-life example of how this topic is relevant or interesting
for you.
As a vehicle owner it is interesting to see how the middle east can directly affect the price of gas and affect my day to day life. 
3. If you could pass on your knowledge to a family member or friend, what
do you think is the most important thing to pass on?
I would tell them that our way of life can change based on events thousands of miles away and that we should always appreciate what we have ]]> 2020-12-01 01:07:10 UTC https://padlet.com/ryansajgalik/32ot9iov8dawxims/wish/973988661