Counter-shock: The Oil Counter-Revolution of the 1980s (International Library of Twentieth Century History)

The oil price collapse of 1985-6 had momentous global consequences: non-fossil energy sources quickly became uncompetitive, the previous talk of an OPEC 'imperium' was turned upside-down, the Soviet Union lost a large portion of its external revenues, and many Third World producers saw their foreign debts peak. Compared to the much-debated 1973 `oil shock', the `countershock' has not received the same degree of attention, even though its legacy has shaped the present-day energy scenario. This volume is the first to put the oil `counter-shock' of the mid-1980s into historical perspective. Featuring some of the most knowledgeable experts in the field, Counter-Shock offers a balanced approach between the global picture and local study cases. In particular, it highlights the crucial interaction between the oil counter-shock and the political `counterrevolution' against state intervention in economic management, put forward by Ronald Reagan and Margaret Thatcher in the same period.

• | Author: Duccio Basosi, Giuliano Garavini, Massimiliano Trentin, Duccio Basosi
• | Publisher: I.B. Tauris
• | Publication Date: Jun 30, 2018
• | Number of Pages: 400 pages
• | Language: English
• | Binding: Hardcover
• | ISBN-10: 178831333X
• | ISBN-13: 9781788313339