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ENCYCLOPEDIA OF BRITAIN
 
  More than 5000 entries on the history, culture and life of Britain (published in 1993 by Macmillan, now out of print)

 
More than 5000 entries on the history, culture and life of Britain (published in 1993 by Macmillan, now out of print)
Oil Crisis

The unsettling effect on western economies caused by the steep increase in oil prices imposed in the mid-1970s by OPEC (Organization of Oil Exporting Countries). In 1973–4 oil prices rose by 300%. Goverment response in Britain included two major fuel-saving measures: the introduction of a three-day week in factories and offices, which lasted from January to March 1974 (this period also included a *miners' strike); and a 50 mph speed limit on all roads, imposed in December 1973 and lifted in May 1974.
 








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