Eric Shelton Texas is a dedicated businessman and owner, who currently works in the energy industry to keep wells stay safe and efficient. He enjoys working in this field, because it is exciting and full of twists and turns. Eric Shelton says that the United States and many other countries throughout the world are entering an energy crisis. He believes that it’s important for the energy industry professionals to come up with new innovations that can assist in finding energy solutions in the future.
By the early 1970s, American oil consumption was on the rise even as our domestic oil production was declining, which lead to an increasing dependence on oil imported from the Middle East. Despite what was occurring, Americans did not seem to worry about the dwindling supply or the extreme spike in prices. Instead they were encouraged in this attitude by policymakers in Washington, who believed that Arab oil exporters couldn’t afford to lose the revenue from the U.S. market. Unfortunately this erroneous thinking was demolished in 1973, when an oil embargo imposed by members of the Organization of Arab Petroleum Exporting Countries (OAPEC) led to fuel shortages and sky-high prices throughout the 70’s.
Even though the oil embargo was lifted in March 1974, oil prices remained high, and the effects of the energy crisis created problems throughout the decade. In addition to controls being placed on prices and gasoline rationing, a national speed limit was implemented and daylight saving time was adopted year-round for the period of 1974-75. Environmentalism reached new heights during the crisis, with various acts of legislation being put into motion such as the Emergency Petroleum Allocation Act (passed by Congress in November 1973).