How did the industrialized economies adjust to the higher oil prices that resulted from the oil shocks of the 1970s?
A)expansion of oil production in new locations inside of OPEC
B)development of greater energy efficiency
C)rapid expansion of the use of coal to replace high-priced oil
D)a gradual shift to natural gas

Question

Quizplus · Accepted Answer

The industrialized economies adjusted to higher oil prices by developing greater energy efficiency. This involved a focus on energy conservation and the development of alternative sources of energy.

How Did the Industrialized Economies Adjust to the Higher Oil