3. What did the USA do (like other countries as well) after the first "oil price shock" to become more independent from the OPEC oil?
4. What is "Third Degree Price Discrimination"? Name a practical example.
3. The primary response of the US to the oil crisis was to improve energy efficiency. According to the American Council for an Energy Efficient Economy, between 1973 and 1986 the U.S. economy grew by 35 percent while energy consumed per unit of GDP fell to 2.4 percent per year. (see ...
The expert examines Oil price shock and price discrimination. The "Third Degree Price Discrimination" is examined.