The volatile oil prices are flowing in a good direction for our economy right now, but let’s not get too giddy! Oil shocks will come again it is just a matter of time. In 1973 the price of oil shot up with the Yom Kippur War in the Middle East. In 1978 the Iranian Revolution, and in 1980 Iraq’s invasion of Iran pushed prices higher. In 1990 it was the invasion of Kuwait. In 2008 it was the world demand with China leading the way to spark speculation that there was going to be an oil shortage, which never really developed but did lead to a large spike in the cost of energy. To continue reading, click here.