Artist: Eddie Germano (All)
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Artwork Details
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Description“Aw Gee, Too Bad” (December 11, 1985)By Eddie Germano (1924 - ) 11 x 15, ink and wash on board A native Bostonian, Germano became a full-time cartoonist in 1948, at age 24, after serving in WWII. Among other positions, he worked as the editorial and sports cartoonist for the Brockton Enterprise from 1963-1990. End of oil crisis... no sympathy here. On December 7, 1985, OPEC announced a new policy of maintaining a ''fair share'' of the market, regardless of the price cuts needed to achieve this. As 1986 rolled in, OPEC was history. Oil prices fell about 50% in 30 days, down to 25% of 1982 levels. And as the cartel crumbled, it became clear that it never really controlled the world crude oil market. Rather, market forces were the dominant factor all along, although this was obscured by events and panic. Social/Sharing |
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