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Politics : President Barack Obama
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To: Road Walker who wrote (81986)9/3/2010 5:42:17 PM
From: Wharf Rat  Read Replies (1) of 149317
 
"The median male worker earns less today, adjusted for inflation, than he did 30 years ago.

But for years American families kept spending as if their incomes were keeping pace with overall economic growth. And their spending fueled continued growth. How did families manage this trick? First, women streamed into the paid work force. By the late 1990s, more than 60 percent of mothers with young children worked outside the home (in 1966, only 24 percent did)."

What happened in 1970?
US oil production peaks

'71?

In March 1971, the balance of power shifted. That month the Texas Railroad Commission set proration at 100 percent for the first time. This meant that Texas producers were no longer limited in the volume of oil that they could produce. More importantly, it meant that the power to control crude oil prices shifted from the United States (Texas, Oklahoma and Louisiana) to OPEC. Another way to say it is that there was no more spare capacity in the U.S. and therefore no tool to put an upper limit on prices. A little over two years later OPEC, through the unintended consequence of war, obtained a glimpse of the extent of its power to influence prices.
wtrg.com

'73?
en.wikipedia.org

That's why everything changed.

Bobby doesn't get it. You can't end this thing without dealing with energy. You can't write about stopping it without using the en word. Well, you can; he just did.
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