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vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Copper"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Copper</span> </div> </a> <ul id="toc-Copper-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Coal" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Coal"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Coal</span> </div> </a> <ul id="toc-Coal-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Floating_exchange_rates_and_commodities" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Floating_exchange_rates_and_commodities"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Floating exchange rates and commodities</span> </div> </a> <ul id="toc-Floating_exchange_rates_and_commodities-sublist" class="vector-toc-list"> </ul> </li> <li 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Author has a history of WP:OR pages - please verify the information is accurate and appropriate<span class="hide-when-compact"> Please <a class="external text" href="https://en.wikipedia.org/w/index.php?title=1970s_commodities_boom&action=edit">improve it</a> by <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">verifying</a> the claims made and adding <a href="/wiki/Wikipedia:Citing_sources#Inline_citations" title="Wikipedia:Citing sources">inline citations</a>. Statements consisting only of original research should be removed.</span> <span class="date-container"><i>(<span class="date">July 2024</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table><figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:PPI_commodities.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d5/PPI_commodities.webp/350px-PPI_commodities.webp.png" decoding="async" width="350" height="92" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d5/PPI_commodities.webp/525px-PPI_commodities.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d5/PPI_commodities.webp/700px-PPI_commodities.webp.png 2x" data-file-width="3876" data-file-height="1022" /></a><figcaption><a href="/wiki/Producer_price_index" title="Producer price index">PPI</a> commodities <style data-mw-deduplicate="TemplateStyles:r981673959">.mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}</style><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#89A54E solid 3px;"> </span> M2 money supply % change year over year</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#4572A7 solid 3px;"> </span> <a href="/wiki/Producer_price_index" title="Producer price index">Producer price index</a> for <a href="/wiki/Commodities" class="mw-redirect" title="Commodities">commodities</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#AA4643 solid 3px;"> </span> <a href="/wiki/United_States_Consumer_Price_Index" title="United States Consumer Price Index">United States Consumer Price Index</a></div> </figcaption></figure> <p>The <b>1970s commodities boom</b> refers to the rise of many <a href="/wiki/Commodity" title="Commodity">commodity</a> prices in the <a href="/wiki/1970s" title="1970s">1970s</a>. Excess demand was created with money supply increasing too much and supply shocks that came from <a href="/wiki/Arab%E2%80%93Israeli_conflict" title="Arab–Israeli conflict">Arab–Israeli conflict</a>, initially between <a href="/wiki/Israel" title="Israel">Israel</a> and <a href="/wiki/Egypt" title="Egypt">Egypt</a>. The <a href="/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a> where Israel captured and <a href="/wiki/Israeli_occupation_of_the_Sinai_Peninsula" title="Israeli occupation of the Sinai Peninsula">occupied the Sinai Peninsula</a> for 15 years, the <a href="/wiki/Closure_of_the_Suez_Canal_(1967%E2%80%931975)" title="Closure of the Suez Canal (1967–1975)">Closure of the Suez Canal (1967–1975)</a> for 8 years of that, led to supply shocks. 66% of oil consumed by <a href="/wiki/Europe" title="Europe">Europe</a> at that time came through the <a href="/wiki/Suez_Canal" title="Suez Canal">Suez Canal</a> and had to be redirected around the continent of <a href="/wiki/Africa" title="Africa">Africa</a>.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> 15% of all <a href="/wiki/Maritime_transport" title="Maritime transport">maritime trade</a> passed through the Suez Canal in 1966, the year before it closed.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <style data-mw-deduplicate="TemplateStyles:r1237032888/mw-parser-output/.tmulti">.mw-parser-output .tmulti .multiimageinner{display:flex;flex-direction:column}.mw-parser-output .tmulti .trow{display:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box}.mw-parser-output .tmulti .tsingle{margin:1px;float:left}.mw-parser-output .tmulti .theader{clear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%}.mw-parser-output .tmulti .thumbcaption{background-color:transparent}.mw-parser-output .tmulti .text-align-left{text-align:left}.mw-parser-output .tmulti .text-align-right{text-align:right}.mw-parser-output .tmulti .text-align-center{text-align:center}@media all and (max-width:720px){.mw-parser-output .tmulti .thumbinner{width:100%!important;box-sizing:border-box;max-width:none!important;align-items:center}.mw-parser-output .tmulti .trow{justify-content:center}.mw-parser-output .tmulti .tsingle{float:none!important;max-width:100%!important;box-sizing:border-box;text-align:center}.mw-parser-output .tmulti .tsingle .thumbcaption{text-align:left}.mw-parser-output .tmulti .trow>.thumbcaption{text-align:center}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .tmulti .multiimageinner img{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .tmulti .multiimageinner img{background-color:white}}</style><div class="thumb tmulti tright"><div class="thumbinner multiimageinner" style="width:508px;max-width:508px"><div class="trow"><div class="tsingle" style="width:252px;max-width:252px"><div class="thumbimage"><span typeof="mw:File"><a href="/wiki/File:Crude-oil-price-history-chart-2022.webp" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Crude-oil-price-history-chart-2022.webp/250px-Crude-oil-price-history-chart-2022.webp.png" decoding="async" width="250" height="182" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Crude-oil-price-history-chart-2022.webp/375px-Crude-oil-price-history-chart-2022.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Crude-oil-price-history-chart-2022.webp/500px-Crude-oil-price-history-chart-2022.webp.png 2x" data-file-width="871" data-file-height="635" /></a></span></div><div class="thumbcaption">Price of oil adjusted for inflation</div></div><div class="tsingle" style="width:252px;max-width:252px"><div class="thumbimage"><span typeof="mw:File"><a href="/wiki/File:Price_of_oil_nominal_price.webp" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/37/Price_of_oil_nominal_price.webp/250px-Price_of_oil_nominal_price.webp.png" decoding="async" width="250" height="178" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/37/Price_of_oil_nominal_price.webp/375px-Price_of_oil_nominal_price.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/37/Price_of_oil_nominal_price.webp/500px-Price_of_oil_nominal_price.webp.png 2x" data-file-width="871" data-file-height="619" /></a></span></div><div class="thumbcaption">Price of oil (nominal)</div></div></div><div class="trow" style="display:flex"><div class="thumbcaption"><a href="/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a> oil price history 1946-2022<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup></div></div></div></div> <p>The <a href="/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a> in late 1973 was Egypts attempt at crossing the Suez Canal and taking the <a href="/wiki/Sinai_Peninsula" title="Sinai Peninsula">Sinai Peninsula</a> back from Israeli occupation. On October 19, 1973 <a href="/wiki/Richard_Nixon" title="Richard Nixon">Richard Nixon</a> requested $2.2 billion to support Israel in the Yom Kippur War. That resulted in <a href="/wiki/OAPEC" class="mw-redirect" title="OAPEC">OAPEC</a> countries cutting production of oil and placing an <a href="/wiki/Embargo" class="mw-redirect" title="Embargo">embargo</a> on oil exports to the United States and other countries backing Israel. That was the start of the <a href="/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a>.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Food_commodities">Food commodities</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=1" title="Edit section: Food commodities"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Commodity_Prices.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/83/Commodity_Prices.webp/300px-Commodity_Prices.webp.png" decoding="async" width="300" height="75" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/83/Commodity_Prices.webp/450px-Commodity_Prices.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/83/Commodity_Prices.webp/600px-Commodity_Prices.webp.png 2x" data-file-width="5371" data-file-height="1335" /></a><figcaption>Commodity Prices <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#35DB3F solid 3px;"> </span> <a href="/wiki/Soybean" title="Soybean">soybean</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#DBC67D solid 3px;"> </span> <a href="/wiki/Wheat" title="Wheat">wheat</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:yellow solid 3px;"> </span> <a href="/wiki/Maize" title="Maize">corn</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#E8A02C solid 3px;"> </span> <a href="/wiki/Copper" title="Copper">copper</a></div> </figcaption></figure> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Food_Price_Index_US.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/4/43/Food_Price_Index_US.webp/300px-Food_Price_Index_US.webp.png" decoding="async" width="300" height="72" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/43/Food_Price_Index_US.webp/450px-Food_Price_Index_US.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/43/Food_Price_Index_US.webp/600px-Food_Price_Index_US.webp.png 2x" data-file-width="1620" data-file-height="388" /></a><figcaption><a href="/wiki/FAO_Food_Price_Index" title="FAO Food Price Index">Food Price Index</a> US</figcaption></figure> <p>In the early 1970s, the <a href="/wiki/Soviet_Union" title="Soviet Union">Soviet Union</a> and many other <a href="/wiki/Planned_economies" class="mw-redirect" title="Planned economies">planned economies</a> started importing large amounts of <a href="/wiki/Grain" title="Grain">grains</a> in the global markets, driving up demand for grains and <a href="/wiki/Oilseed" class="mw-redirect" title="Oilseed">oilseeds</a>.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Sugar">Sugar</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=2" title="Edit section: Sugar"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Sugar prices spiked in the 1970s because of Soviet Union demand/hoarding and possible futures contracts market manipulation. The Soviet Union was the largest producer of sugar at the time. In 1974, <a href="/wiki/Coca-Cola" title="Coca-Cola">Coca-Cola</a> switched over to <a href="/wiki/High-fructose_corn_syrup" title="High-fructose corn syrup">high-fructose corn syrup</a> because of the elevated prices.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <figure class="mw-halign-center" typeof="mw:File/Thumb"><a href="/wiki/File:Sugar_Prices_1962-2022.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c2/Sugar_Prices_1962-2022.webp/300px-Sugar_Prices_1962-2022.webp.png" decoding="async" width="300" height="71" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c2/Sugar_Prices_1962-2022.webp/450px-Sugar_Prices_1962-2022.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c2/Sugar_Prices_1962-2022.webp/600px-Sugar_Prices_1962-2022.webp.png 2x" data-file-width="5285" data-file-height="1251" /></a><figcaption>Sugar prices 1962–2022</figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="Coffee">Coffee</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=3" title="Edit section: Coffee"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The price of <a href="/wiki/Coffee" title="Coffee">coffee</a> went up in the mid 1970s because of a <a href="/wiki/Coffee_production_in_Brazil#Black_frost_of_1975" title="Coffee production in Brazil">black frost of 1975</a> that killed 66% of <a href="/wiki/Brazil" title="Brazil">Brazil</a>'s coffee trees, which was the number one producer of coffee at the time. There was a big <a href="/wiki/1976_Guatemala_earthquake" title="1976 Guatemala earthquake">earthquake in 1976 in Guatemala</a> that disrupted supply chains, the world's fifth biggest coffee exporter at the time. The <a href="/wiki/Angolan_Civil_War" title="Angolan Civil War">Angolan Civil War</a> started in 1975 disrupting their coffee production and shipping.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <figure class="mw-halign-center" typeof="mw:File/Thumb"><a href="/wiki/File:Coffee-prices-historical-chart-data.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/dc/Coffee-prices-historical-chart-data.webp/300px-Coffee-prices-historical-chart-data.webp.png" decoding="async" width="300" height="55" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/dc/Coffee-prices-historical-chart-data.webp/450px-Coffee-prices-historical-chart-data.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/dc/Coffee-prices-historical-chart-data.webp/600px-Coffee-prices-historical-chart-data.webp.png 2x" data-file-width="5498" data-file-height="1016" /></a><figcaption>Coffee prices 1973–2022</figcaption></figure> <div class="mw-heading mw-heading2"><h2 id="Gold">Gold</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=4" title="Edit section: Gold"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The United States weaned itself off the <a href="/wiki/Gold_standard" title="Gold standard">gold standard</a> in the 1970s, allowing the price of gold to float. The price of gold went from a set exchange rate of $42.22 per <a href="/wiki/Troy_ounce" class="mw-redirect" title="Troy ounce">troy ounce</a> in 1973 to almost $200 per ounce in 1976.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <figure class="mw-halign-center" typeof="mw:File/Thumb"><a href="/wiki/File:Price_of_gold.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7b/Price_of_gold.webp/300px-Price_of_gold.webp.png" decoding="async" width="300" height="103" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7b/Price_of_gold.webp/450px-Price_of_gold.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7b/Price_of_gold.webp/600px-Price_of_gold.webp.png 2x" data-file-width="3996" data-file-height="1376" /></a><figcaption>Price of gold 1915-2022</figcaption></figure> <div class="mw-heading mw-heading2"><h2 id="Copper">Copper</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=5" title="Edit section: Copper"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Price_of_Copper.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/de/Price_of_Copper.webp/300px-Price_of_Copper.webp.png" decoding="async" width="300" height="82" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/de/Price_of_Copper.webp/450px-Price_of_Copper.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/de/Price_of_Copper.webp/600px-Price_of_Copper.webp.png 2x" data-file-width="5400" data-file-height="1482" /></a><figcaption>Price of copper</figcaption></figure> <p>Price controls were implemented in the early 1970s to combat inflation but when those price controls were lifted on commodities like copper the prices appreciated. These quick price rises were known as the <a href="/wiki/Nixon_shock" title="Nixon shock">Nixon shock</a>.<sup id="cite_ref-Cooper1975_10-0" class="reference"><a href="#cite_note-Cooper1975-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="Coal">Coal</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=6" title="Edit section: Coal"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Coal_Prices_1949-2011.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0e/Coal_Prices_1949-2011.webp/300px-Coal_Prices_1949-2011.webp.png" decoding="async" width="300" height="65" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0e/Coal_Prices_1949-2011.webp/450px-Coal_Prices_1949-2011.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0e/Coal_Prices_1949-2011.webp/600px-Coal_Prices_1949-2011.webp.png 2x" data-file-width="1565" data-file-height="338" /></a><figcaption><a href="/wiki/Coal" title="Coal">Coal</a> Prices 1949-2011 <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#000000 solid 3px;"> </span> <a href="/wiki/Anthracite" title="Anthracite">Anthracite</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#851719 solid 3px;"> </span> <a href="/wiki/Bituminous" class="mw-redirect" title="Bituminous">Bituminous</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#929292 solid 3px;"> </span> <a href="/wiki/Lignite" title="Lignite">Lignite</a></div> </figcaption></figure> <p><a href="/wiki/Coal" title="Coal">Coal</a> price increases in the 1970s were primarily demand driven. There was a <a href="/wiki/Strike_action" title="Strike action">strike</a> by the <a href="/wiki/United_Mine_Workers_of_America" title="United Mine Workers of America">United Mine Workers of America</a> called <a href="/wiki/United_Mine_Workers_of_America#The_Brookside_Strike" title="United Mine Workers of America">The Brookside Strike</a> in late 1974 that lasted for 3 weeks but was said to have little impact on prices.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="Floating_exchange_rates_and_commodities">Floating exchange rates and commodities</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=7" title="Edit section: Floating exchange rates and commodities"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:US_Dollar_Index_DXY.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/US_Dollar_Index_DXY.webp/300px-US_Dollar_Index_DXY.webp.png" decoding="async" width="300" height="114" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/US_Dollar_Index_DXY.webp/450px-US_Dollar_Index_DXY.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d4/US_Dollar_Index_DXY.webp/600px-US_Dollar_Index_DXY.webp.png 2x" data-file-width="5566" data-file-height="2114" /></a><figcaption> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-color mw-no-invert" style="border: 1px solid #0076BA;background-color:#00A2FF; color:black;"> </span> <a href="/wiki/U.S._Dollar_Index" title="U.S. Dollar Index">US Dollar Index</a> (DXY) 1971-2022</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#F27200 solid 3px;"> </span> <a href="/wiki/United_States_dollar" title="United States dollar">USD</a>/<a href="/wiki/GBP" class="mw-redirect" title="GBP">GBP</a> <a href="/wiki/Exchange_rate" title="Exchange rate">exchange rate</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#017100 solid 3px;"> </span> USD/<a href="/wiki/Canadian_dollar" title="Canadian dollar">Canadian dollar</a> exchange rate</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#004D80 solid 3px;"> </span> <a href="/wiki/Euro" title="Euro">EUR</a>/USD (inverted) exchange rate</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#BC002D solid 3px;"> </span> USD/<a href="/wiki/Japanese_yen" title="Japanese yen">JPY</a> exchange rate</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:#FFCD00 solid 3px;"> </span> USD/<a href="/wiki/Swedish_krona" title="Swedish krona">SEK</a> exchange rate</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-line mw-no-invert" style="display: inline-block; vertical-align: middle; width: 1.67em; height: 0; border-style: none; border-top: 2px dotted black;border-top:black solid 3px;"> </span> USD/<a href="/wiki/Swiss_franc" title="Swiss franc">CHF</a> exchange rate</div> </figcaption></figure> <p>After <a href="/wiki/World_War_II" title="World War II">World War II</a> the <a href="/wiki/Bretton_Woods_system" title="Bretton Woods system">Bretton Woods system</a> had <a href="/wiki/Fixed_exchange_rates" class="mw-redirect" title="Fixed exchange rates">fixed exchange rates</a> between countries and <a href="/wiki/Gold_standard" title="Gold standard">pegged to gold</a>. This kept some commodities like gold very stable. When the Bretton Woods system failed in the early 1970s and <a href="/wiki/Floating_exchange_rate" title="Floating exchange rate">floating exchange rates</a> started to float, commodities also became very <a href="/wiki/Volatility_(finance)" title="Volatility (finance)">volatile</a>.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Cooper1975_10-1" class="reference"><a href="#cite_note-Cooper1975-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (July 2024)">verification needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=8" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/1976_sterling_crisis" title="1976 sterling crisis">1976 sterling crisis</a></li> <li><a href="/wiki/2000s_commodities_boom" title="2000s commodities boom">2000s commodities boom</a></li> <li><a href="/wiki/2020s_commodities_boom" title="2020s commodities boom">2020s commodities boom</a></li> <li><a href="/wiki/List_of_commodity_booms" title="List of commodity booms">List of commodity booms</a></li> <li><a href="/wiki/Petrocurrency" title="Petrocurrency">Petrocurrency</a></li> <li><a href="/wiki/Stagflation" title="Stagflation">Stagflation</a></li> <li><a href="/wiki/U.S._Dollar_Index" title="U.S. Dollar Index">U.S. Dollar Index</a></li> <li><a href="/wiki/Winter_of_Discontent" title="Winter of Discontent">Winter of Discontent</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1970s_commodities_boom&action=edit&section=9" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.history.com/topics/cold-war/suez-crisis">"Suez Crisis"</a>. 14 September 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Suez+Crisis&rft.date=2022-09-14&rft_id=https%3A%2F%2Fwww.history.com%2Ftopics%2Fcold-war%2Fsuez-crisis&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.winton.com/longer-view/the-six-day-wars-impact-on-trade">"Choked off: The Six Day War's Impact on Maritime Trade"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Choked+off%3A+The+Six+Day+War%27s+Impact+on+Maritime+Trade&rft_id=https%3A%2F%2Fwww.winton.com%2Flonger-view%2Fthe-six-day-wars-impact-on-trade&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.macrotrends.net/1369/crude-oil-price-history-chart">"Crude Oil Prices - 70 Year Historical Chart"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Crude+Oil+Prices+-+70+Year+Historical+Chart&rft_id=https%3A%2F%2Fwww.macrotrends.net%2F1369%2Fcrude-oil-price-history-chart&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCorbett" class="citation web cs1">Corbett, Michael. <a rel="nofollow" class="external text" href="https://www.federalreservehistory.org/essays/oil-shock-of-1973-74">"Oil Shock of 1973–74"</a>. Federal Reserve History<span class="reference-accessdate">. Retrieved <span class="nowrap">2022-08-27</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Oil+Shock+of+1973%E2%80%9374&rft.pub=Federal+Reserve+History&rft.aulast=Corbett&rft.aufirst=Michael&rft_id=https%3A%2F%2Fwww.federalreservehistory.org%2Fessays%2Foil-shock-of-1973-74&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.ers.usda.gov/amber-waves/2009/march/agricultural-commodity-price-spikes-in-the-1970s-and-1990s-valuable-lessons-for-today/">"USDA ERS - Agricultural Commodity Price Spikes in the 1970s and 1990s: Valuable Lessons for Today"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=USDA+ERS+-+Agricultural+Commodity+Price+Spikes+in+the+1970s+and+1990s%3A+Valuable+Lessons+for+Today&rft_id=https%3A%2F%2Fwww.ers.usda.gov%2Famber-waves%2F2009%2Fmarch%2Fagricultural-commodity-price-spikes-in-the-1970s-and-1990s-valuable-lessons-for-today%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.winton.com/longer-view/the-sweet-and-sour-history-of-sugar-prices">"A History of Sugar Prices"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=A+History+of+Sugar+Prices&rft_id=https%3A%2F%2Fwww.winton.com%2Flonger-view%2Fthe-sweet-and-sour-history-of-sugar-prices&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEnnis1972" class="citation news cs1">Ennis, Thomas W. (5 January 1972). <a rel="nofollow" class="external text" href="https://www.nytimes.com/1972/01/05/archives/sugar-futures-up-on-soviet-buying-purchases-on-world-market-said-to.html">"Sugar Futures up on Soviet Buying"</a>. <i>The New York Times</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Sugar+Futures+up+on+Soviet+Buying&rft.date=1972-01-05&rft.aulast=Ennis&rft.aufirst=Thomas+W.&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1972%2F01%2F05%2Farchives%2Fsugar-futures-up-on-soviet-buying-purchases-on-world-market-said-to.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMaidenberg1976" class="citation news cs1">Maidenberg, H. J. (12 February 1976). <a rel="nofollow" class="external text" href="https://www.nytimes.com/1976/02/12/archives/higher-coffee-prices-are-expected-retail-rise-is-seen-in-next-few.html">"Higher Coffee Prices Are Expected"</a>. <i>The New York Times</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Higher+Coffee+Prices+Are+Expected&rft.date=1976-02-12&rft.aulast=Maidenberg&rft.aufirst=H.+J.&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1976%2F02%2F12%2Farchives%2Fhigher-coffee-prices-are-expected-retail-rise-is-seen-in-next-few.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFElwell2011" class="citation web cs1">Elwell, Craig K. (23 June 2011). <a rel="nofollow" class="external text" href="https://sgp.fas.org/crs/misc/R41887.pdf">"Brief History of the Gold Standard in the United States"</a> <span class="cs1-format">(PDF)</span>. Congressional Research Service.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Brief+History+of+the+Gold+Standard+in+the+United+States&rft.pub=Congressional+Research+Service&rft.date=2011-06-23&rft.aulast=Elwell&rft.aufirst=Craig+K.&rft_id=https%3A%2F%2Fsgp.fas.org%2Fcrs%2Fmisc%2FR41887.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-Cooper1975-10"><span class="mw-cite-backlink">^ <a href="#cite_ref-Cooper1975_10-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Cooper1975_10-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCooperLawrence1975" class="citation journal cs1">Cooper, Richard N.; Lawrence, Robert Z. (1975). <a rel="nofollow" class="external text" href="https://www.brookings.edu/wp-content/uploads/1975/12/1975c_bpea_cooper_lawrence_bosworth_houthakker.pdf">"The 1972–75 Commodity Boom"</a> <span class="cs1-format">(PDF)</span>. <i>Brookings Papers on Economic Activity</i>. <b>3</b> (3): 671–723. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F2534151">10.2307/2534151</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2534151">2534151</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Brookings+Papers+on+Economic+Activity&rft.atitle=The+1972%E2%80%9375+Commodity+Boom&rft.volume=3&rft.issue=3&rft.pages=671-723&rft.date=1975&rft_id=info%3Adoi%2F10.2307%2F2534151&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2534151%23id-name%3DJSTOR&rft.aulast=Cooper&rft.aufirst=Richard+N.&rft.au=Lawrence%2C+Robert+Z.&rft_id=https%3A%2F%2Fwww.brookings.edu%2Fwp-content%2Fuploads%2F1975%2F12%2F1975c_bpea_cooper_lawrence_bosworth_houthakker.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.winton.com/longer-view/copper-bottomed-booms-and-busts">"A History of Copper Prices"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=A+History+of+Copper+Prices&rft_id=https%3A%2F%2Fwww.winton.com%2Flonger-view%2Fcopper-bottomed-booms-and-busts&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.osti.gov/biblio/5516263">"Study of coal prices. [USA; 1948 to 1969; 1969 to 1974]"</a>. March 1976. <a href="/wiki/OSTI_(identifier)" class="mw-redirect" title="OSTI (identifier)">OSTI</a> <a rel="nofollow" class="external text" href="https://www.osti.gov/biblio/5516263">5516263</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Study+of+coal+prices.+%26%2391%3BUSA%3B+1948+to+1969%3B+1969+to+1974%26%2393%3B&rft.date=1976-03&rft_id=https%3A%2F%2Fwww.osti.gov%2Fbiblio%2F5516263%23id-name%3DOSTI&rft_id=https%3A%2F%2Fwww.osti.gov%2Fbiblio%2F5516263&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.imf.org/external/about/histend.htm">"About the IMF: History: The end of the Bretton Woods System (1972–81)"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=About+the+IMF%3A+History%3A+The+end+of+the+Bretton+Woods+System+%281972%E2%80%9381%29&rft_id=https%3A%2F%2Fwww.imf.org%2Fexternal%2Fabout%2Fhistend.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1970s+commodities+boom" class="Z3988"></span></span> </li> </ol></div></div> <ul><li><a rel="nofollow" class="external free" href="https://www.brookings.edu/wp-content/uploads/1975/12/1975c_bpea_cooper_lawrence_bosworth_houthakker.pdf">https://www.brookings.edu/wp-content/uploads/1975/12/1975c_bpea_cooper_lawrence_bosworth_houthakker.pdf</a></li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist 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contagion">Social contagion</a></li> <li><a href="/wiki/Real-estate_bubble" title="Real-estate bubble">Real-estate bubble</a></li> <li><a href="/wiki/Stock_market_bubble" title="Stock market bubble">Stock market bubble</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a><br />(1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Tulip_mania" title="Tulip mania">Tulip mania</a> (1634–1637)</li> <li><a href="/wiki/Mississippi_Company" title="Mississippi Company">Mississippi bubble</a> (1684–1720)</li> <li><a href="/wiki/South_Sea_Company" title="South Sea Company">South Sea bubble</a> (1711–1720)</li> <li><a href="/wiki/Bengal_Bubble_of_1769" title="Bengal Bubble of 1769">Bengal Bubble of 1769</a> (1757–1769)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a><br />(1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Canal_Mania" title="Canal Mania">Canal Mania</a> (c. 1790–c. 1810)</li> <li><a href="/wiki/Carolina_gold_rush" title="Carolina gold rush">Carolina gold rush</a> (1802–1825)</li> <li><a href="/wiki/Alabama_real_estate_bubble_of_the_1810s" title="Alabama real estate bubble of the 1810s">1810s Alabama real estate bubble</a></li> <li><a href="/wiki/Georgia_Gold_Rush" title="Georgia Gold Rush">Georgia Gold Rush</a> (1828–c. 1840)</li> <li><a href="/wiki/Chicago_real_estate_bubble_of_the_1830s" title="Chicago real estate bubble of the 1830s">1830s Chicago real estate bubble</a></li> <li><a href="/wiki/Chilean_silver_rush" title="Chilean silver rush">Chilean silver rush</a> (1830–1850)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1840–1870</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Railway_Mania" title="Railway Mania">Railway Mania</a> (c. 1840–c. 1850)</li> <li><a href="/wiki/California_gold_rush" title="California gold rush">California gold rush</a> (1848–1855)</li> <li><a href="/wiki/Queen_Charlottes_Gold_Rush" title="Queen Charlottes Gold Rush">Queen Charlottes Gold Rush</a> (1851)</li> <li><a href="/wiki/Victorian_gold_rush" title="Victorian gold rush">Victorian gold rush</a> (1851–c. 1870)</li> <li><a href="/wiki/New_South_Wales_gold_rush" title="New South Wales gold rush">New South Wales gold rush</a> (1851–1880)</li> <li><a href="/wiki/Australian_gold_rushes" title="Australian gold rushes">Australian gold rushes</a> (1851–1914)</li> <li><a href="/wiki/Fraser_Canyon_Gold_Rush" title="Fraser Canyon Gold Rush">Fraser Canyon Gold Rush</a> (1858)</li> <li><a href="/wiki/Pike%27s_Peak_gold_rush" title="Pike's Peak gold rush">Pike's Peak gold rush</a> (1858–1861)</li> <li><a href="/wiki/Rock_Creek_Gold_Rush" title="Rock Creek Gold Rush">Rock Creek Gold Rush</a> (1859)</li> <li><a href="/wiki/Pennsylvania_oil_rush" title="Pennsylvania oil rush">Pennsylvania oil rush</a> (1859–1891)</li> <li><a href="/wiki/Similkameen_Gold_Rush" title="Similkameen Gold Rush">Similkameen Gold Rush</a> (1860)</li> <li><a href="/wiki/Stikine_Gold_Rush" title="Stikine Gold Rush">Stikine Gold Rush</a> (1861)</li> <li><a href="/wiki/Steamboats_of_the_Colorado_River" title="Steamboats of the Colorado River">Colorado River mining boom</a> (1861–1864)</li> <li><a href="/wiki/Otago_gold_rush" title="Otago gold rush">Otago gold rush</a> (1861–1864)</li> <li><a href="/wiki/Cariboo_Gold_Rush" title="Cariboo Gold Rush">Cariboo Gold Rush</a> (1861–1867)</li> <li><a href="/wiki/Gold_mining_in_Nova_Scotia" title="Gold mining in Nova Scotia">First Nova Scotia Gold Rush</a> (1861–1874)</li> <li><a href="/wiki/West_Coast_gold_rush" title="West Coast gold rush">West Coast gold rush</a> (1864–1867)</li> <li><a href="/wiki/Big_Bend_Gold_Rush" title="Big Bend Gold Rush">Big Bend Gold Rush</a> (c. 1865)</li> <li><a href="/wiki/Vermilion_Lake_gold_rush" title="Vermilion Lake gold rush">Vermilion Lake gold rush</a> (1865–1867)</li> <li><a href="/wiki/Kildonan_Gold_Rush" title="Kildonan Gold Rush">Kildonan Gold Rush</a> (1869)</li> <li><a href="/wiki/Omineca_Gold_Rush" title="Omineca Gold Rush">Omineca Gold Rush</a> (1869)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a><br />(1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Lapland_gold_rush" title="Lapland gold rush">1870s Lapland gold rush</a></li> <li><a href="/wiki/Coromandel_Gold_Rushes" title="Coromandel Gold Rushes">Coromandel Gold Rushes</a> (c. 1870–c. 1890)</li> <li><a href="/wiki/Cassiar_Country" title="Cassiar Country">Cassiar Gold Rush</a> (c. 1870–c. 1890)</li> <li><a href="/wiki/Black_Hills_gold_rush" title="Black Hills gold rush">Black Hills gold rush</a> (1874–1880)</li> <li><a href="/wiki/Colorado_Silver_Boom" title="Colorado Silver Boom">Colorado Silver Boom</a> (1879–1893)</li> <li><a href="/wiki/Western_Australian_gold_rushes" title="Western Australian gold rushes">Western Australian gold rushes</a> (c. 1880–c. 1900)</li> <li><a href="/wiki/Indiana_gas_boom" title="Indiana gas boom">Indiana gas boom</a> (c. 1880–1903)</li> <li><a href="/wiki/Petroleum_industry_in_Ohio" title="Petroleum industry in Ohio">Ohio oil rush</a> (c. 1880–c. 1930)</li> <li><a href="/wiki/Tierra_del_Fuego_gold_rush" title="Tierra del Fuego gold rush">Tierra del Fuego gold rush</a> (1883–1906)</li> <li><a href="/wiki/Cayoosh_Gold_Rush" title="Cayoosh Gold Rush">Cayoosh Gold Rush</a> (1884)</li> <li><a href="/wiki/Witwatersrand_Gold_Rush" title="Witwatersrand Gold Rush">Witwatersrand Gold Rush</a> (1886)</li> <li><a href="/wiki/Encilhamento" title="Encilhamento">Encilhamento</a> (1886–1890)</li> <li><a href="/wiki/Cripple_Creek_Gold_Rush" title="Cripple Creek Gold Rush">Cripple Creek Gold Rush</a> (c. 1890–c. 1910)</li> <li><a href="/wiki/Klondike_Gold_Rush" title="Klondike Gold Rush">Klondike Gold Rush</a> (1896–1899)</li> <li><a href="/wiki/Gold_mining_in_Nova_Scotia" title="Gold mining in Nova Scotia">Second Nova Scotia Gold Rush</a> (1896–1903)</li> <li><a href="/wiki/Kobuk_River_Stampede" title="Kobuk River Stampede">Kobuk River Stampede</a> (1897–1899)</li> <li><a href="/wiki/Mount_Baker_gold_rush" title="Mount Baker gold rush">Mount Baker gold rush</a> (1897–c. 1925)</li> <li><a href="/wiki/Nome_Gold_Rush" title="Nome Gold Rush">Nome Gold Rush</a> (1899–1909)</li> <li><a href="/wiki/Fairbanks_Gold_Rush" title="Fairbanks Gold Rush">Fairbanks Gold Rush</a> (c. 1900–1918)</li> <li><a href="/wiki/Texas_oil_boom" title="Texas oil boom">Texas oil boom</a> (1901–1918)</li> <li><a href="/wiki/Cobalt_silver_rush" title="Cobalt silver rush">Cobalt silver rush</a> (1903–1918)</li> <li><a href="/wiki/Porcupine_Gold_Rush" title="Porcupine Gold Rush">Porcupine Gold Rush</a> (1909–1918)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a><br />(1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Florida_land_boom_of_the_1920s" title="Florida land boom of the 1920s">1920s Florida land boom</a> (c. 1920–1925)</li> <li><a href="/wiki/Fairbanks_Gold_Rush" title="Fairbanks Gold Rush">Fairbanks Gold Rush</a> (1918–c. 1930)</li> <li><a href="/wiki/Texas_oil_boom" title="Texas oil boom">Texas oil boom</a> (1918–1945)</li> <li><a href="/wiki/Cobalt_silver_rush" title="Cobalt silver rush">Cobalt silver rush</a> (1918–c. 1930)</li> <li><a href="/wiki/Porcupine_Gold_Rush" title="Porcupine Gold Rush">Porcupine Gold Rush</a> (1918–1945)</li> <li><a href="/wiki/Kakamega_gold_rush" title="Kakamega gold rush">1930s Kakamega gold rush</a></li> <li><a href="/wiki/Gold_mining_in_Nova_Scotia" title="Gold mining in Nova Scotia">Third Nova Scotia Gold Rush</a> (1932–1942)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a><br />(1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Texas_oil_boom" title="Texas oil boom">Texas oil boom</a> (1945–c. 1950)</li> <li><a href="/wiki/Porcupine_Gold_Rush" title="Porcupine Gold Rush">Porcupine Gold Rush</a> (1945–c. 1960)</li> <li><a href="/wiki/Poseidon_bubble" title="Poseidon bubble">Poseidon bubble</a> (1969–1970)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">The Great Inflation</a><br />(1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a class="mw-selflink selflink">1970s commodities boom</a></li> <li><a href="/wiki/Mexican_oil_boom" title="Mexican oil boom">Mexican oil boom</a> (1977–1981)</li> <li><a href="/wiki/Silver_Thursday" title="Silver Thursday">Silver Thursday</a> (1980)</li> <li><a href="/wiki/New_Zealand_property_bubble" title="New Zealand property bubble">New Zealand property bubble</a> (c. 1980–1982)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/<br /><a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a><br />(1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></li> <li><a href="/wiki/New_Zealand_property_bubble" title="New Zealand property bubble">New Zealand property bubble</a> (1982–)</li> <li><a href="/wiki/Spanish_property_bubble" title="Spanish property bubble">Spanish property bubble</a> (1985–2008)</li> <li><a href="/wiki/Japanese_asset_price_bubble" title="Japanese asset price bubble">Japanese asset price bubble</a> (1986–1990)</li> <li><a href="/wiki/Dot-com_bubble" title="Dot-com bubble">Dot-com bubble</a> (1995–2000)</li> <li><a href="/wiki/Baltic_states_housing_bubble" title="Baltic states housing bubble">Baltic states housing bubble</a> (2000–2006)</li> <li><a href="/wiki/Irish_property_bubble" title="Irish property bubble">Irish property bubble</a> (c. 2000–2007)</li> <li><a href="/wiki/2000s_commodities_boom" title="2000s commodities boom">2000s commodities boom</a> (2000–2008)</li> <li><a href="/wiki/Danish_property_bubble_of_2000s" title="Danish property bubble of 2000s">2000s Danish property bubble</a> (2001–2006)</li> <li><a href="/wiki/2000s_United_States_housing_bubble" title="2000s United States housing bubble">United States housing bubble</a> (2002–2006)</li> <li><a href="/wiki/Romanian_property_bubble" title="Romanian property bubble">Romanian property bubble</a> (2002–2007)</li> <li><a href="/wiki/Polish_property_bubble" title="Polish property bubble">Polish property bubble</a> (2002–2008)</li> <li><a href="/wiki/Canadian_property_bubble" title="Canadian property bubble">Canadian property bubble</a> (2002–)</li> <li><a href="/wiki/Chinese_property_bubble_(2005%E2%80%932011)" title="Chinese property bubble (2005–2011)">Chinese property bubble</a> (2005–2011)</li> <li><a href="/wiki/Lebanese_housing_bubble" title="Lebanese housing bubble">Lebanese housing bubble</a> (2005–2008)</li></ul> <ul><li><a href="/wiki/Chinese_stock_bubble_of_2007" title="Chinese stock bubble of 2007">Chinese stock bubble of 2007</a></li> <li><a href="/wiki/Uranium_bubble_of_2007" title="Uranium bubble of 2007">Uranium bubble of 2007</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a><br />(2007–present)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2000s_commodities_boom" title="2000s commodities boom">2000s commodities boom</a> (2008–2014)</li> <li><a href="/wiki/Lebanese_housing_bubble" title="Lebanese housing bubble">Lebanese housing bubble</a> (2008–)</li> <li><a href="/wiki/Corporate_debt_bubble" title="Corporate debt bubble">Corporate debt bubble</a> (2008–)</li> <li><a href="/wiki/Australian_property_bubble" title="Australian property bubble">Australian property bubble</a> (2010–)</li> <li><a href="/wiki/Cryptocurrency_bubble" title="Cryptocurrency bubble">Cryptocurrency bubble</a> (2011–)</li> <li><a href="/wiki/Everything_bubble" title="Everything bubble">Everything bubble</a> (2020–21)</li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Carbon_bubble" title="Carbon bubble">Carbon bubble</a></li> <li><a href="/wiki/Green_bubble" title="Green bubble">Green bubble</a></li> <li><a href="/wiki/Social_media_stock_bubble" title="Social media stock bubble">Social media stock bubble</a></li> <li><a href="/wiki/Unicorn_bubble" title="Unicorn bubble">Unicorn bubble</a></li> <li><a href="/wiki/Higher_education_bubble_in_the_United_States" title="Higher education bubble in the United States">U.S. higher 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