Enough time has elapsed since Carter's administration that Biven can usefully analyse its economic consequences. Looking back, those were not great times. Sandwiched between two oil crises, Carter's people tried their best. But the narrative describes well the stagflation that gripped the US.What is currently more interesting might be the discussion about oil usage in1979 and 80. The oil price rise then was proportionately worse than in recent years. Yet for readers who are old enough, the parallels between various conservation measures mooted then and now are instructive. So too might be the remembrance of what happened after the Carter years. When oil went into a 20+ year bear market. Even though its continuing rise seemed inevitable in 1980. Worth keeping in mind nowadays. Will today's prices keep moving up inexorably?
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