On The New Oil Regime
Why the 1970s Still Matter and Why They Don’t Repeat
“History does not repeat itself, but it does rhyme.” - attributed to Mark Twain
The oil crisis of the 1970s is often invoked as a warning. It is remembered as a period of scarcity, inflation, and policy failure, a moment when the modern economic order fractured under the weight of geopolitics and energy dependence.
That memory is directionally correct, bu…
