When Oil And Power Were At The Peak Of Their Game

Are you tired of experiencing leaks and damages in your boiler system? Do you need a new boiler or just a thorough boiler repair servicing to your broken equipment? Majestic boiler Repair Company in Norwich can help you solve your problem. They specialize in excellent services when it comes to the reparation of existing boilers as well as in installing these. Though the industry of boiler repair services has been doing well for the past several years, it cannot be denied that this industry too was affected when the prices of oil dipped in the last year. People became fearful and oil companies suffered, laid off workers, cut their budget spending and the entire economy was affected.

Oil and power
Looking back, it was during the 1970s that the relationship between oil and power evolved into another level. It was in this decade that the upheavals between the countries of the Middle East and the West gave rise to the petro-politics which had since dominated in the global arena.

In the oil timeline and power, you would notice that global domination for power that comes with oil came first in the crisis of 1973. This was the time when the Arab country members of OPEC unanimously curtailed supplies as a response to the war in Yom Kippur. After six years, the revolution in Iran shook the supply chain again.

After those chains of events, the foreign and economic policies remain to be intertwined as the large industrial states sought ways to stay close to suppliers. This then prompted some nations to turn from their ideals and even desperately went to war in order to have a good supply source of oil and fossil fuels.

The oil today
The price swings of oil have been quite sudden and many were not anticipating it. This sharp drop in the price of oil can help the West settle old debts without having to take punitive measures like sanctioning rogue nations like Russia and Iran or redrawing international diplomacy codes. The reason for this is because with the oil barrel below $100, the price of this certain commodity becomes more effective than sanctioning embargoes.

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