Oil-Industry: How to Survive Under Tapering Oil Demand
Mark Lammey, Energy Voice
June 04, 2018
Who was cited:
The auto-industry went through significant changes, from smaller cars in the early 20th century to big and heavy cars in the 1960s. This trend changed after the 1970s oil price shock, which led to manufacturing lightweight and fuel-efficient cars. This era represented adjustments in internal innovations for the survival of the auto-industry in a new environment. Such changes did not hamper the growth of the oil industry, in fact, it buoyed its growth.