• The 1979 energy crisis was one of two oil price shocks in the 1970s - the other was in 1973.
  • Rising prices and supply concerns led to panic buying in the gasoline market.
  • Crude oil prices almost doubled to almost $40 a barrel in twelve months.
  • The energy crisis in 1979 led to the development of more compact and economical vehicles.
  • OPEC’s market share has plummeted and utilities have shifted to alternative energy sources.