1973: Oil shock
John Browne, former CEO of BP, explores the impact of the 1973 oil shock on 20th-century global politics and economics.
John Browne, former CEO of BP, explores the impact of the 1973 oil shock on 20th century global politics and economics. Production restrictions by OPEC had a dramatic effect in the US where he was then working.. "OPEC’s announcement threw New York into a state of turmoil. Queues for gasoline stations ran for blocks down the street, and people would drive from station to station searching for fuel," Lord Browne recalls. "Even with their tank nearly full, they would wait for hours for a top-up. I can remember people’s frustration, which often turned to violence."
Producer: Neil Koenig