Environmental Engineering Reference
In-Depth Information
Brokers swarm and signal in a frenzy of buying and selling at the Tokyo stock
exchange in December 1973, following reports of an Arab decision to ease its
oil-supply cutbacks against Japan - cutbacks which had seriously affected its
economy.
major supply cut-off, rather than merely to smooth out the usual seasonal
swings in commercial demand.)
Nonetheless, the 2009 cut-off of Russian gas has galvanized the EU into
some action to improve the interconnections between its member states'
gas networks and commercial storage, as part of a series of measures to
improve Europe's resilience to interruptions to outside supplies.
Japan: the ultimate importer
Japan has built itself into a major industrial power without ever having
any real oil of its own. It is the third-largest oil importer, behind the US
and China. Yet it has made great efforts to contain its oil demand, which
is essentially unchanged from 35 years ago.
