The oil price collapse of 1985-6 had momentous global consequences: non-fossil energy sources quickly became uncompetitive, the previous talk of an OPEC 'imperium' was turned upside-down, the Soviet Union lost a large portion of its external revenues, and many Third World producers saw their foreign debts peak.
Compared to the much-debated 1973 oil shock', the countershock' has not received the same degree of attention, even though its legacy has shaped the present-day energy scenario.
This volume is the first to put the oil counter-shock' of the mid-1980s into historical perspective.
Featuring some of the most knowledgeable experts in the field, Counter-Shock offers a balanced approach between the globalpicture and local study cases.
In particular, it highlights the crucial interaction between the oil counter-shock and the political counterrevolution' against state intervention in economic management, put forward by Ronald Reagan and Margaret Thatcher in the same period.
About the Author Duccio Basosi is Assistant Professor of History of International Relations at the Ca' Foscari University of Venice.
He has worked extensively on the international political economy of the 1970s and 1980s.
Between 2011 and 2016 he has coordinated the research project The Engines of Growth: A Global History of the Conflict between Renewables, Fossil and Fissile Energies 1972-1992, funded by the Italian Ministry of University and Research.
Giuliano Garavini is Senior Braudel Fellow at the European University Institute (EUI) in Florence and Visiting Senior Research Fellow in the Humanities at NYU Abu Dhabi.
He headed the Padua unit of the project `The engines of growth: for a global history of the conflict between renewable, fossil, and fissile energies, 1972-1992', funded by the Italian Ministry of University and Research.
He is the author of After Empires.
European Integration, Decolonization and the Challenge from the Global South, 1957-1986 and co-editor of Oil Shock.
The 1973 Crisis.
| Consequences | Nonfossil energy sources quickly became uncompetitive the previous talk of an |
|---|---|
| Growth | A |
| Padua unit of the project `the engines of growth | For a global history of the conflict between renewable fossil and fissile energies 19721992 funded by the |
Bloomsbury Publishing Plc Counter-shock the oil counter-revolution of the 1980s, paperback/duccio basosi
