"The Real Oil Shock provides further support for the more globally focused, materialist view by focusing on the birth of the endogenous petrocapital cycle, a period which began with the 1973 OPEC Oil Embargo and ended in 1982 with the collapse of oil revenues following the 1979 Oil Shock. Processing this new source of funds forced financial institutions to adapt to new market conditions, giving rise to many financial instruments which became central to the new neo-liberal world."
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