Posted by Ciara's Sister on .
How did the oil crisis in the 1970s illistrate the problem of economic interdependence?
1. all nations rely on oil and when nations with oil resources underwent political crises, production was halted and prices soared, creating economic shock waves.
2. the dependence of the us on middle e oil was seriously damaged when saudi arabian oil fields were attacked by afghnistan's rebel forces
3. multinational corporations had brought new technologies to developing countries, which used this new technology to create alternative fuels at high costs
4. less-developed nations, once dependent on the middle e for oil, joined the OPEC and were able to get substantial discounts on oil reserves
i think its d