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There was a time when the automobile is a symbol of freedom the carefree days when a full tank of gas could be had for a pittance but then came the First Oil Crisis when the price of crude oil so much. Black and gold for Oil Producing countries it became a political weapon and a potent tuneful blackmail and threats. To. Our dependence on oil cost us dealing the day when the worlds oil reserves will run dry and now appears with the insight that this was just the start. Of. The oil crisis did not foresee the events that up. The door to the exploitation of the new resource shale oil and im president and boom propelled the United States into the ranks of the Worlds Largest oil producers. If. Consumers benefited from cheaper prices this time it was the Oil Producing countries that bore the brunt of the price of oil collapsed between june twenty fourth chain and january twenty sixth in the price of a barrel of crude declined by seventy percent. Just three major producers the United States ru

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