Yergin expects future energy disruptions

Yergin expects future energy disruptions, noting the Middle East is still in turmoil. He says although Saudi Arabia — the center of the 1973 embargo —Fashion Dresses is now America's strongest Arab ally, Iran is now an adversary. Forty years ago, Iran didn't participate in the embargo, because it was one of the strongest U.S. allies in the Middle East."Americans have a short memory," Panetta says, adding they need to be reminded of the myriad costs and lingering risks associated with oil dependence Fashion Dresses— as shown by the 1973 oil embargo.Libya, Saudi Arabia and other members of OPEC stop oil shipments to the United States in response to U.S. support of Israel. Oil prices quadruple, gas lines form across the U.S. and President Nixon calls for "energy independence."

U.S. approves a national maximum speed limit of 55 miles per hour through the Emergency Highway Energy Conservation Act. Year-round daylight saving time began in Jan. 1974, but because of protests that children were leaving for school in the dark, pre-existing daylight savings rules were restored in 1976.U.S. establishes the Strategic Petroleum Reserve. President Ford signs bill creating first fuel efficiency standards,Fashion Dresses requiring auto companies to double fleet-wide averages by 1985.President Carter called the energy crisis the "moral equivalent of war" and established the U.S. Department of Energy.Second oil crisis hits when Shah of Iran is overthrown and Iranian revolution begins. An encircling of the U.S. Capitol by 3,000 tractors calls for U.S. commitment to ethanol. Three Mile Island nuclear plant accident dims U.S. support for nuclear power. Carter install solar panels on the roof of the White House.

Volume was thin as investors braced for a deluge of U.S. economic data next week now that the U.S. government was open following a two-week shutdown. The September nonfarm payrolls report is due on Tuesday.Analysts said concerns about the negative impact of the shutdown on the U.S. economy and the likelihood of the Fed leaving its bond-buying program intact until well into next year would weigh on the dollar. That should give the euro the potential to rise toward $1.40.Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington, said the short-term budget Fashion Dresses fix forged on the eve of the debt ceiling deadline has also "treaded on dollar confidence as it could lead to renewed gridlock after the holidays."

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