1990-1991 Iraqi-Kuwait Crisis

From the Paper:

" The cause of the crisis is excessive dependence of the U.S. on foreign oil imports and the accompanying energy crunch created by the Iraqi invasion of Kuwait. The effect of the crisis is economic uncertainty, and possible stagflation, higher unemployment, and even recession, despite some less pessimistic forecasts.

Comparison of 1990 crisis with those of the 1970s.
... that the 1970s crises were more serious, but her sources are in the minority with respect to the future economic conditions in the U.S..
... argue that the 1990 crisis could, in fact, be much worse than those of the 1970s, because of complicating factors, including the possibility of ... "

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