1979? American frackers didn't exist yet. North Sea production had only become significant a few years earlier (the Brent field was discovered in '71). Petrobr

1979? American frackers didn't exist yet. North Sea production had only become significant a few years earlier (the Brent field was discovered in '71). Petrobras was irrelevant. Venezuela had nationalized its oil industry just three years prior. My point is, these things can change. Quickly.