Energy crisis

An energy crisis is any great shortfall (or price rise) in the supply of energy to an economy. It usually refers to the shortage of oil, electricity or other natural resources. The crisis often has effects on the rest of the economy, many recessions are precipitated by an energy crisis of some form. In particular, the production costs of electricity rise, which raises manufacturing costs. From a consumer side, the price of gasoline (petrol) for cars and other vehicles rises, leading to reduced consumer confidence and spending.

Related Topics:
Energy - Economy - Oil - Electricity - Natural resources - Recession

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