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1979 Energy Crisis
The 1979 oil crisis, also known as the 1979 Oil Shock or Second Oil Crisis, was an energy crisis caused by a drop in oil production in the wake of the Iranian Revolution. Although the global oil supply only decreased by approximately four percent, the oil markets' reaction raised the price of crude oil drastically over the next 12 months, more than doubling it to . The sudden increase in price was connected with fuel shortages and long lines at gas stations similar to the 1973 oil crisis. In 1980, following the onset of the Iran–Iraq War, oil production in Iran fell drastically. Iraq's oil production also dropped significantly, triggering economic recessions worldwide. Oil prices did not return to pre-crisis levels until the mid-1980s. Oil prices after 1980 began a steady decline over the next 20 years, except for a brief uptick during the Gulf War, which then reached a 60% fall-off in the 1990s. Mexico, Nigeria, and Venezuela's major oil exporters expanded their produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Crisis
An energy crisis or energy shortage is any significant bottleneck in the supply of energy resources to an economy. In literature, it often refers to one of the energy sources used at a certain time and place, in particular, those that supply national electricity grids or those used as fuel in industrial development and population growth have led to a surge in the global demand for energy in recent years. In the 2000s, this new demand – together with Middle East tension, the falling value of the US dollar, dwindling oil reserves, concerns over peak oil, and oil price speculation – triggered the 2000s energy crisis, which saw the price of oil reach an all-time high of in 2008. Causes Most energy crises have been caused by localized shortages, wars and market manipulation. Some have argued that government actions like tax hikes, nationalisation of energy companies, and regulation of the energy sector, shift supply and demand of energy away from its economic equilibrium. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alaska
Alaska ( ; russian: Аляска, Alyaska; ale, Alax̂sxax̂; ; ems, Alas'kaaq; Yup'ik: ''Alaskaq''; tli, Anáaski) is a state located in the Western United States on the northwest extremity of North America. A semi-exclave of the U.S., it borders the Canadian province of British Columbia and the Yukon territory to the east; it also shares a maritime border with the Russian Federation's Chukotka Autonomous Okrug to the west, just across the Bering Strait. To the north are the Chukchi and Beaufort Seas of the Arctic Ocean, while the Pacific Ocean lies to the south and southwest. Alaska is by far the largest U.S. state by area, comprising more total area than the next three largest states (Texas, California, and Montana) combined. It represents the seventh-largest subnational division in the world. It is the third-least populous and the most sparsely populated state, but by far the continent's most populous territory located mostly north of the 60th parallel, with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swing Producer
A swing producer or swing supplier is a supplier or a close oligopolistic group of suppliers of any commodity, controlling its global deposits and possessing large spare production capacity. A swing producer is able to increase or decrease commodity supply at minimal additional internal cost, and thus able to influence prices and balance the markets, providing downside protection in the short to middle term. Examples of swing producers include Saudi Arabia in oil, Russia in potash fertilizers, and, historically, the De Beers Company in diamonds. Modes By modeling the swing producer behavior, John Morecroft describes two modes: normal swing mode and punitive mode. Usually in the normal mode, the swing producer responds to market price fluctuations by marginally increasing or decreasing its output in order to maintain stable prices for all producers. However, independent participants can take unjust advantage of the reduced supply and increase their output in order to win a larger mar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mana Al Otaiba
Mana Al Otaiba (مانع العتيبة المرر) (born 15 May 1946) to Saeed Al Otaiba in Abu Dhabi in the United Arab Emirates. Al Otaiba is the former Minister of Petroleum and Mineral Resources of the United Arab Emirates under the presidency of Sheikh Zayed bin Sultan Al Nahyan. Al Otaiba then became his Personal Adviser until the president's death, after which he became the Private Advisor to Sheikh Khalifa bin Zayed Al Nahyan, as well as a member of the Royal Moroccan Academy under King Hassan II. Biography Mana Al Otaiba served as President of OPEC six times, for its 26th, 52nd, 53rd, 54th, 62nd and 63rd conferences, held during 1971–1983. Al Otaiba is the former chair of Noor Capital, a firm dealing in asset management, private equity, investment banking, investment placement and direct equity. He is also a major shareholder in Abu Dhabi Group, a company with holdings in real estate, banking, Islamic banking, telecommunication, ISP, manufacturing, pharmaceuticals, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the Arab world, and the largest in Western Asia and the Middle East. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Qatar and the United Arab Emirates to the east; Oman to the southeast; and Yemen to the south. Bahrain is an island country off the east coast. The Gulf of Aqaba in the northwest separates Saudi Arabia from Egypt. Saudi Arabia is the only country with a coastline along both the Red Sea and the Persian Gulf, and most of its terrain consists of arid desert, lowland, steppe, and mountains. Its capital and largest city is Riyadh. The country is home to Mecca and Medina, the two holiest cities in Islam. Pre-Islamic Arabia, the territory that constitutes modern-day Saudi Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OPEC
The Organization of the Petroleum Exporting Countries (OPEC, ) is a cartel of countries. Founded on 14 September 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), it has, since 1965, been headquartered in Vienna, Austria, although Austria is not an OPEC member state. , the 13 member countries accounted for an estimated 44 percent of global oil production and 81.5 % of the world's proven oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called " Seven Sisters" grouping of multinational oil companies. The formation of OPEC marked a turning point toward national sovereignty over natural resources, and OPEC decisions have come to play a prominent role in the global oil market and international relations. The effect can be particularly strong when wars or civil disorders lead to extended interruptions in supply. In the 1970s, restrictions in oil production led to a dramatic r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iran
Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmenistan to the north, by Afghanistan and Pakistan to the east, and by the Gulf of Oman and the Persian Gulf to the south. It covers an area of , making it the 17th-largest country. Iran has a population of 86 million, making it the 17th-most populous country in the world, and the second-largest in the Middle East. Its largest cities, in descending order, are the capital Tehran, Mashhad, Isfahan, Karaj, Shiraz, and Tabriz. The country is home to one of the world's oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. It was first unified by the Medes, an ancient Iranian people, in the seventh century BC, and reached its territorial height in the sixth century BC, when Cyrus the Great fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ruhollah Khomeini
Ruhollah Khomeini, Ayatollah Khomeini, Imam Khomeini ( , ; ; 17 May 1900 – 3 June 1989) was an Iranian political and religious leader who served as the first supreme leader of Iran from 1979 until his death in 1989. He was the founder of the Islamic Republic of Iran and the leader of the 1979 Iranian Revolution, which saw the overthrow of Shah Mohammad Reza Pahlavi and the end of the Persian monarchy. Following the revolution, Khomeini became the country's first supreme leader, a position created in the constitution of the Islamic Republic as the highest-ranking political and religious authority of the nation, which he held until his death. Most of his period in power was taken up by the Iran–Iraq War of 1980–1988. He was succeeded by Ali Khamenei on 4 June 1989. Khomeini was born in Khomeyn, in what is now Iran's Markazi province. His father was murdered in 1903 when Khomeini was two years old. He began studying the Quran and Arabic from a young age and was assiste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ayatollah
Ayatollah ( ; fa, آیتالله, āyatollāh) is an Title of honor, honorific title for high-ranking Twelver Shia clergy in Iran and Iraq that came into widespread usage in the 20th century. Etymology The title is originally derived from Arabic word pre-modified with the definite article and Grammatical modifier#Premodifiers and postmodifiers, post-modified with the word ''Allah'', making ( ar, آية الله). The combination has been translated to English as 'Sign of God', 'Divine Sign' or 'Reflection of God'. It is a frequently-used term in Quran, but its usage in this context is presumably a particular reference to the verse "We shall show them Our signs on the horizons and in their own selves", while it has been also used to refer to The Twelve Imams by Shias. Variants used are ( ar, آية الله في الأنعام, lit=Sign of God among mankind), ( ar, آية الله في العالمَین, lit=Sign of God in the two worlds, Dual (grammatical number), du ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shapour Bakhtiar
Shapour Bakhtiar ( fa, شاپور بختیار, ; 26 June 19146 August 1991) was an Iranian politician who served as the last Prime Minister of Iran under the Mohammad Reza Shah Pahlavi. In the words of historian Abbas Milani: "more than once in the tone of a jeremiad he reminded the nation of the dangers of clerical despotism, and of how the fascism of the mullahs would be darker than any military junta". In 1991, he and his secretary were murdered in his home in Suresnes, France, by agents of the Islamic Republic. Early life Bakhtiar was born on 26 June 1914 in southwestern Iran into a family of Iranian tribal nobility, the family of the paramount chieftains of the then powerful Bakhtiari tribe. His father was Mohammad Reza Khan (''Sardar-e-Fateh''). His mother was Naz-Baygom, and both of his parents were Lurs and Bakhtiaris. Bakhtiar's maternal grandfather, Najaf-Gholi Khan Samsam ol-Saltaneh, had been appointed prime minister twice, in 1912 and 1918. Bakhtiar's mother died ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Farah Pahlavi
Farah Pahlavi ( fa, فرح پهلوی, née Farah Diba ( fa, فرح دیبا, label=none); born 14 October 1938) is the widow of the last Shah of Iran, Mohammad Reza Pahlavi, and was successively Queen and Empress (''Shahbanu'') of Iran from 1959 to 1979. She was born into a prosperous family whose fortunes were diminished after her father's early death. While studying architecture in Paris, France, she was introduced to the Shah at the Iranian embassy, and they were married in December 1959. The Shah's first two marriages had not produced a son—necessary for royal succession—resulting in great rejoicing at the birth of Crown Prince Reza in October of the following year. Diba was then free to pursue interests other than domestic duties, though she was not allowed a political role. She worked for many charities, and founded Iran's first American-style university, enabling more women to become students in the country. She also facilitated the buying-back of Iranian antiqu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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