Oil crisis of 1979



After the 1973 oil crisis increased oil prices in 1979/1980 once again strong. The cause of the oil crisis of 1979 (also called the second oil crisis called) lay in the unrest in theMiddle East where the Shah of Iran, Mohammed Reza Pahlavi, had to flee during the Iranian revolution to make way for the Islamic Iranian leader ayatollah Khomeini. The new regime put in place although oil exports again, but offered a lower volume on the market so that prices rose. ==Netherlands[ Edit] == The Dutch economy came under great pressure by the soaring prices. Netherlands could no longer muster the enormous expenditure. The then Government led by Prime Minister Dries van Agt (first Van Agt Cabinet) decided to reduce the benefits and wages.