North Sea Oil Crisis

The North Sea Oil Crisis occurred in the 1970s when Western countries, especially the UK and Norway, faced skyrocketing oil prices and supply shortages due to political tensions and OPEC's oil embargo. This disruption highlighted the region's growing importance as a vital energy source, leading to economic strain, increased energy costs, and a push toward energy independence. It spurred investments in alternative energy, influenced international politics, and underscored the dependence on imported oil, shaping energy policies and economic strategies for decades afterward.