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Bigger than you can imagine

Bigger than you can imagine

What I “remember” of the 1970s is actually very limited.  Most of what I think of as “my memories” have, in fact, been generated by various retrospective media coverage of the period which provide the framework into which my scraps of memory have been slotted.  And the younger someone is, the more their view of the 1970s will have been shaped by media rather than memory.  And so, it has been all too easy for today’s lazy news coverage to frame our current woes through the lens of an imaginary 1970s.

The crisis now unfolding, however, is entirely different to the 1970s in one crucial respect… The 1970s crisis was largely artificial.  When all is said and done, the oil shock was nothing more than the emerging OPEC cartel asserting its newfound leverage following the peak of continental US oil production…

…click on the above link to read the rest of the article…

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