[bratticus]

(click for full size)

[bratticus]

1971 US Peak Oil Production rate:

US DOE EIA web site

[AgentR11]

Isn't M2 velocity directly caused by the employment ratio though?
Commodity shocks or bubble pops causing reduced employment, which causes a drop in M2v.

Where are you going with this topic?

[bratticus]

1979 Iran-Iraq War.

Why the oil price keeps rising
BBC / 2008

1979 IRANIAN REVOLUTION

Months of turmoil in Iran led to the exile of the Shah and the declaration of an Islamic republic.

It also led to a reduction in oil production and, at one point, the flow of crude oil from Iran was almost halted. Nervousness about the stability of Iran brought together the other major Arab oil-producing states to ensure supply and increase prices.

BBC alternative view claims 1988 was "Gulf War".

Why the oil price keeps rising
BBC / 2008

But let's face it, the USSR was the real reason. Sheer volume.

[bratticus]

Isn't M2 velocity directly caused by the employment ratio though?
Commodity shocks or bubble pops causing reduced employment, which causes a drop in M2v.

Where are you going with this topic?

Twitter mostly. This post was up for its first 15 minutes and had only 7 hits.
One tweet and *boom* the world took a peek.

[bratticus]

1973 "third middle east embargo"

Why Did the 1956 and 1967 Middle East Oil Embargos Fail?

[bratticus]

1988 USSR Peak Crude Oil Production Rate Hit.

Peak oil and the Fall of the Soviet Union: Lessons on the 20th Anniversary of the Collapse
Luis de Sousa / The Oil Drum / 2011