But perhaps another oil shock or two will change that.
It also set off the first oil shock of the 21st century.
The oil shock of 1973 is often called the turning point when world economic growth started to slow.
Others, however, see in the oil shock an important role for the Fed.
Many easy steps were taken after the oil shocks of the 1970's.
The oil shocks of the 1970's changed that throughout the Western world.
Only the bear market related to the oil shocks took more than two years.
The bad news: It could slow down the economy enough to force a recession, as the 1970s oil shock did.
Firms' financing needs are greater than at any time since the 1974 oil shock.
"If it hadn't been for the oil shock, which kept the economy down, some of those fruits would have shown up in the numbers already."