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19 relations: Business cycle, Canada, Dutch disease, Economic growth, Energy crisis, Equatorial Guinea, Gabon, Mexican oil boom, Mexico, North Dakota oil boom, Pennsylvania oil rush, Petroleum industry, Resource curse, Texas oil boom, United States, 1970s energy crisis, 1973 oil crisis, 1979 energy crisis, 1980s oil glut.
Business cycle
The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.
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Canada
Canada is a country located in the northern part of North America.
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Dutch disease
In economics, the Dutch disease is the apparent causal relationship between the increase in the economic development of a specific sector (for example natural resources) and a decline in other sectors (like the manufacturing sector or agriculture).
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Economic growth
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.
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Energy crisis
An energy crisis is any significant bottleneck in the supply of energy resources to an economy.
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Equatorial Guinea
Equatorial Guinea (Guinea Ecuatorial, Guinée équatoriale, Guiné Equatorial), officially the Republic of Equatorial Guinea (República de Guinea Ecuatorial, République de Guinée équatoriale, República da Guiné Equatorial), is a country located in Central Africa, with an area of.
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Gabon
Gabon, officially the Gabonese Republic (République gabonaise), is a sovereign state on the west coast of Central Africa.
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Mexican oil boom
The Mexican Oil Boom was an oil boom from 1977 to 1981 which eventually led to a disastrous crash that lasted for most the 1980s, driving the economy to a payment default and a significant deficit correction as oil prices fell.
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Mexico
Mexico (México; Mēxihco), officially called the United Mexican States (Estados Unidos Mexicanos) is a federal republic in the southern portion of North America.
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North Dakota oil boom
The North Dakota oil boom refers to the period of rapidly expanding oil extraction from the Bakken formation in the state of North Dakota that lasted from the discovery of Parshall Oil Field in 2006, and peaked in 2012, but with substantially less growth noted since 2015 due to a global decline in oil prices.
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Pennsylvania oil rush
The oil rush began in Titusville, Pennsylvania, in the Oil Creek Valley when Colonel Edwin L. Drake struck "rock oil" there.
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Petroleum industry
The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transporting (often by oil tankers and pipelines), and marketing of petroleum products.
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Resource curse
The resource curse, also known as the paradox of plenty, refers to the paradox that countries with an abundance of natural resources (like fossil fuels and certain minerals), tend to have less economic growth, less democracy, and worse development outcomes than countries with fewer natural resources.
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Texas oil boom
The Texas oil boom, sometimes called the gusher age, was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas.
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United States
The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.
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1970s energy crisis
The 1970s energy crisis was a period when the major industrial countries of the world, particularly the United States, Canada, Western Europe, Japan, Australia, and New Zealand, faced substantial petroleum shortages, real and perceived, as well as elevated prices.
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1973 oil crisis
The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo.
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1979 energy crisis
The 1979 (or second) oil crisis or oil shock occurred in the world due to decreased oil output in the wake of the Iranian Revolution.
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1980s oil glut
The 1980s oil glut was a serious surplus of crude oil caused by falling demand following the 1970s energy crisis.
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