{"id":63062,"date":"2022-07-15T09:03:55","date_gmt":"2022-07-15T14:03:55","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63062"},"modified":"2022-07-15T09:03:55","modified_gmt":"2022-07-15T14:03:55","slug":"bigger-than-you-can-imagine","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63062","title":{"rendered":"Bigger than you can imagine"},"content":{"rendered":"
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Bigger than you can imagine<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n
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\u00a0One of the problems with claims that our situation is \u201cjust like the 1970s,\u201d is that very few adults of the period are still around to share the memory.\u00a0 Those of us who were children at the time have only memories distorted through the lens of childhood innocence.\u00a0 I, for example, have a memory of the lights going off during the \u201cthree-day-week,\u201d together with cloudier memories of petrol shortages in the autumn of 1973.\u00a0 But we children had little appreciation of the hardships that these events caused our parents \u2013 being unable to cook dinner, not being able to drive to work, etc.\u00a0 The inflation which followed was even less tangible to a child who had few things to spend pocket money on back then.\u00a0 It is only later in life that I came to appreciate just how much effort my mother had to put into feeding two kids with ingredients which seemed to go up in price week to week and month to month.<\/div>\n<\/div>\n<\/section>\n

What I \u201cremember\u201d of the 1970s is actually very limited.\u00a0 Most of what I think of as \u201cmy memories\u201d 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.\u00a0 And the younger someone is, the more their view of the 1970s will have been shaped by media rather than memory.\u00a0 And so, it has been all too easy for today\u2019s lazy news coverage to frame our current woes through the lens of an\u00a0imaginary<\/em>\u00a01970s.<\/p>\n

The crisis now unfolding, however, is entirely different to the 1970s in one crucial respect\u2026 The 1970s crisis was largely artificial.\u00a0 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…<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bigger than you can imagine \u00a0One of the problems with claims that our situation is \u201cjust like the 1970s,\u201d is that very few adults of the period are still around to share the memory.\u00a0 Those of us who were children at the time have only memories distorted through the lens of childhood innocence.\u00a0 I, for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[10535,1055,172,265,595,600,13351,30640,31360],"class_list":["post-63062","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-1970s","tag-consumer-price-index","tag-cpi","tag-energy-crisis","tag-oil-production","tag-opec","tag-price-inflation","tag-the-consciousness-of-sheep","tag-tim-watkins"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63062"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63062\/revisions"}],"predecessor-version":[{"id":63063,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63062\/revisions\/63063"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}