Lesson 9 Connection Video

How long have you ever waited in line at a gas station? Or have you had to scramble around to find a gas station that still had gas to sell?
You might say never. Or, if you did have to wait in line for more than a few minutes, it might have been because you were traveling on a holiday weekend or because the station was having a great sale.
Well, in the 1970s, society, especially in the United States, was introduced to the concept of the energy crisis.
There were two oil shocks during the 1970s. For the first one, in the early 1970s, I wasn't driving yet, but I did travel places with my sisters. Although I was partially insulated from the crisis because I lived in New York City and used public transportation exclusively, I indirectly experienced the same psychological shift from taking oil for granted to always being concerned about having enough. It became unheard of to let your fuel tank go below half full.
I will share my direct experience with the second oil shock of the late 1970s in the next lesson.
The causes of this shortage were numerous, including conflicts among producing countries, shifting national strategies, and changing approaches driven by evolving attitudes.
In the United States, people blamed both the oil companies and the government for the problem. Unfortunately, it was also a time of rumors and misinformation, much like we see today with other topics.
This reaction was understandable because society quickly went from a time when many people did not even realize that the United States imported oil, much less where that oil came from, to a society with a daily obsession about having enough energy.
There was, however, a positive side to all of this.
The crisis generated a growing interest in energy efficiency and conservation, along with increased investment in new technologies.
Remember what I said a few videos ago: necessity breeds innovation.
Let me close with my lesson learned for the week.
The causes of problems are often complex and involve many variables, and perception is one of those variables.
Weather, political conflict, disasters, and fragile supply chains can all trigger shortages. However, concern about a shortage can also trigger panic, which in turn worsens the problem.
It becomes a negative feedback loop in which no one wins.
Let's hope things improve as we continue reading.