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So there should be other options to reduce the recession. Isn't it true that finding new energy sources to take the place of oil use would reduce this problem?
High Oil Consumption in U.S. Constraining Supply
By Joseph D. Villalon
OPEC raised the price of crude oil in world markets in 1973. During this time the price of crude oil rose 50 percent. The result was a supple shock, reduced supply of gasoline, since crude oil is the major component used to produce gasoline. Countries around the world, including the United States experienced inflation and recession.
Many placed the blame squarely on OPEC for the ensuing problems with gasoline supply, but economists have blame policymakers for limiting the price that oil companies could charge for gasoline...
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