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Major Energy Crisis Hits U.S. Texas and Alaska Elated. Lubbock Swati C

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Major Energy Crisis Hits U.S. Texas and Alaska Elated. Lubbock Swati C The Texas Times Vol. 1 Decade 1970 NO. 1 ____________________________________________________________________________________________________________________ Tornado Hits Major Energy Crisis Hits U.S. Texas and Alaska elated. Lubbock Swati C. Yarlagadda May 11, 1970- Two tornadoes hit Lubbock, the second of which devastated the inner city and residential areas. This catastrophe left twenty-six dead and injured over 1500 people. The second tornado, the deadlier of the two, also hit the Lubbock Municipal Airport, destroying 100 private aircraft and 17 military planes. The twister cut through the city’s power and communication lines, leaving around 170,000 1973-80- A major energy crisis, also known as the 1970’s Oil Crisis, has been affecting major industrial people in the dark. countries such as the US, Western Europe, New Zealand, Japan, Australia, and Canada. The problem Residents reported hail half began in 1948 when Jews occupied Israel as their newfound homeland. Arabs who were formerly an hour before a small living in the area couldn’t accept this, so they attacked several times. After a few small battles, the tornado tore the roof off a conflicts turned into full-scaled wars. One such war, the Yom Kippur War, began in early October, barn. A curfew has been 1973. During the war, Egypt and Syria attacked while the Soviets supplied them with arms. In an ordered by Jim Granberry, effort to help Israel, President Richard Nixon gave Israel supplies. As a result, the Organization of and as a precaution, Arab Petroleum Exporting Companies (OAPEC), reduced their petroleum production and proclaimed Department of Public an embargo on oil shipments into the US and Netherlands, Israel’s main supporters. Even though the Safety and other officials embargo was lifted in 1974, the price of oil increased dramatically during the several months with are roaming the streets. petrol shortage, up to four times the original prices. The second major oil crisis happened in 1979, This has been one of the during the Iranian Revolution. During that time, there were many interruptions in the oil exports worst tornadoes in Texas from the Middle East. Throughout this period of shortage, major oil producing countries such as history and left thousands Norway, Venezuela, and Mexico raised their prices. Even though these countries, and many others, homeless. had oil to export, the unfriendly Middle Eastern countries were the main source of petroleum for the US and other countries. In the US, Texas experienced a major oil boom in the 1940’s that paid off for them in this crisis. They had so much oil that their oil displaced agriculture as the most valuable product driving the economy. Soon after, Texas’s oil production dominated the US’s. Additionally, Alaska had an oil discovery in 1968. These two states, along with southern states like Wyoming, Colorado, and Louisiana, were able to make money due to recent oil discoveries. The energy problem disappeared in 1980 when prices and oil production stabilized. Article by Swati C. Yarlagadda Sharpstown Stock Scandal Resolved 1972- The Sharpstown Stock Fraud Scandal has ended. Originating in Houston, it revolves around Houston banker and insurance company manager Frank Sharp. Sharp owns companies Sharpstown State Bank and National Banker’s Life Insurance Corporation. The scandal started in early 1971 when Sharp loaned $600,000 to US Officials, while in turn, they bought stock from National Banker’s Life, which Sharp made sound more valuable than it really was. One victim, the Strake Jesuit College Preparatory lost over six million dollars listening to what Sharp advised. Using stock as encouragement, Sharp tried to get legislation that would benefit National Banker’s Life. He did this by increasing the value of the company to investors. In the end, the investors were the ones who would push through the legislation. The scheme succeeded. Later on, the US Security and Exchange Commission (SEC) charged Sharp and other involved with criminal and civil charges. By the middle of 1971, everyone connected to Sharp was heavily politically pressured. Around that time, the “Dirty Thirty” was formed, which was a group of Democrats, Republicans, Conservatives, and Liberals on the Texas Board of Representatives who grouped against people involved with the Sharpstown Scandal. In 1972, Sharp was sentenced to three Gus Mutscher, Gov. Preston Smith and Lt. Gov. Ben Barnes, and years of probation and a $5000 fine after him and others were Lyndon B. Johnson tried in Abilene. Swati C. Yarlagadda Texas Women’s Political Caucus Takes Off. Will an Equal Rights Amendment be added? 1971-73- The Texas Women's Political Caucus started in November 1971 in Austin, Texas. The goal of this caucus is to have more women in offices so that they can address topics about sexism, racism, institutional violence, and poverty. Their priorities are to add the Equal Rights Amendment to the Constitution and to eliminate laws that violated "reproductive freedom." This Caucus worked to make equal legal rights for both genders in Texas by 1972. In 1973, the Texas legislature ratified the national Equal Rights Amendment. This caucus was mostly made out of people from Dallas, Austin, and Houston. There was a debate among the members about whether they should only support women political candidates or to support other people. The TWPC was very well organized and supported from the full- time lobbyist and staff and secure financial backing. They increased their visibility by Women try to earn their rights building teaming up with other feminist organizations. They set up Women's Education for Delegate Selection, which educate women on becoming delegates across the country. Significant People Walter Cronkite told America about Fred Joseph Agnich was a longtime, President Kennedy’s assassination, the stalwart Dallas County Republican, a first man on the moon, and that we successful business executive, dedicated Barbara Jordan's Congressional career couldn’t win the war in Vietnam. He outdoorsman and civic leader. In 1970 anchored the evening news on CBS and started in 1972. She was elected as a Fred Agnich won on a Republican representative in the United States House became a daily presence in the American ticket from District 33-R, Dallas for the of Representatives and served from January home. In the early 1970s Cronkite had talks with President Lyndon Johnson Texas Legislature. He was the first 3, 1973 to January 3, 1979. She was the first African-American to represent Texas about his decision to end the bombing of Republican elected countywide in and the first African American woman to North Vietnam and him not seeking re- Dallas since Reconstruction. He played represent a southern state in the United election. Cronkite picked up an early a key role in establishing the article on the “Watergate Caper” and States House of Representatives. In 1974, Republican Party as a force in a Dallas. made the story national news with in the Jordan served on the influential House While he was in the Texas House of Judiciary Committee during the Nixon fall of 1972, just a month before the impeachment hearings. She was an election. Cronkite reported the Representatives, he served on a variety effective speaker and addressed how proceedings of the House Judiciary of committees. During his career in people should do something about the Committee on the Impeachment of Austin, the citizens of Texas entrusted Constitution. This speech was considered President Nixon. His goal is to tell citizens him to rewrite the Texas Constitution, as one of the best speeches and is what what is going on in the world. Cronkite which has been unaltered since 1876. set the standards of television news when made the Democratic Party to deliver an Agnich served on the Finance address at the 1976 Democratic national television was just beginning. Cronkite Committee and conducted research convention. While Jordan was in Congress, was a witness to history and helped shaped perceptions of it. In the early and preliminary studies during 1973. she expanded the Voting Rights Act and the Community Reinvestment Act of 1977 1970s, an opinion poll identified Cronkite He was the vice chairman of the as the most trusted public figure in as well as legislation that required banks to Republican National Committee from lend and make services available to poor America. His influence was said to rival 1974-1976 and was the Texas and minority communities. presidents, and at least twice his name committeeman for the Republican had been floated as a presidential running National Committee from 1972-1976. mate. He did not hesitate to use state power to promote his favorite interests, environmental legislation and wildlife preservation during his lifetime. “Significant People” article and Political Cartoon by Sumin Choi Works Cited Economic- "1970s Energy Crisis." Wikipedia. Wikimedia Foundation, 25 May 2014. Web. 26 May 2014. <http://en.wikipedia.org/wiki/1970s_energy_crisis>. "Texas Almanac - The Source For All Things Texan Since 1857." Oil and Texas: A Cultural History. Web. 24 May 2014. <http://www.texasalmanac.com/topics/business/oil-and-texas-cultural-history>. Image: "Energy Crisis (1970s)." History.com. A&E Television Networks, n.d. Web. 23 May 2014. Political- "SHARPSTOWN STOCK-FRAUD SCANDAL." KINCH, SAM, JR. Web. 26 May 2014. <http://www.tshaonline.org/handbook/online/articles/mqs01>. "Sharpstown Scandal." Wikipedia. Wikimedia Foundation, 04 June 2014. Web. 26 May 2014. <http://en.wikipedia.org/wiki/Sharpstown_scandal>. Image: http://blog.chron.com/txpotomac/2010/01/today-in-texas-history-the-sharpstown-scandal-breaks/ Miscellaneous- "1970 Lubbock Tornado." Wikipedia. Wikimedia Foundation, 21 May 2014. Web. 23 May 2014. <http://en.wikipedia.org/wiki/1970_Lubbock_tornado>. "Lubbock, TX Devastating Tornado Rips City, May 1970." Welcome to GenDisasters! Web. 25 May 2014. <http://www3.gendisasters.com/texas/5698/lubbock-tx-devestating-tornado-rips-city-may-1970>.
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