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By William Howell (sometimes spelled Howel)

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30 U•X•L American Decades * 1970-1979 ❖ . . Topics . . in. the . News .................... Business and the Economy TOPIC S IN THE NEWS ❖ OIL EMBARGOES AND A DECADE-LONG ENERGY CRISIS At the beginning of the 1970s, Americans consumed vast amounts of energy compared to citizens of other countries. Although Americans at the time accounted for only 6 percent of the world’s population, they used 30 percent of all the energy produced. Americans consumed as much energy in seven days as people in other parts of the world consumed in a year.

During the decade, other American companies and even New York City also had to be helped by huge federal loans. Business and the Economy OVERVIEW In such a depressed economy, it was remarkable that women and minorities continued to make gains in workplace equality. Those gains did not occur because of a change in business attitude toward the workers’ abilities, but because of legislation and judicial action. Lawmakers and the courts forced businesses to alter their hiring practices so that everyone could have an equal chance at a successful career.

The wide variety of rock music genres produced only a handful of stars. Blockbuster albums, corporate-sponsored tours, and progressive radio formats helped these select musicians make more money than ever before. Often their fame was earned not just from their music, but also 12 U•X•L American Decades * 1970-1979 . . . . . . . . . . . . “Jesus” . . Rock .......... he themes of peace and love that marked popular music in the late 1960s expanded into a love of the divine when the Beatles’ George Harrison released “My Sweet Lord” in 1970.

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