29/06/2008 15:04. On June 6, the price of crude oil rose $11 in a single day. It rekindled fears of a damaging recession in America. With unemployment rising, house prices falling, credit tightening and food prices escalating, America is bracing itself for a possible panic of unknown proportion.

The questions are how did the oil crisis happen and what can we do about it?

In the early 1970s, while the price of oil tripled, the effect was not much more than... // Pittsburgh Tribune-Review