I posted earlier about the oil mini-crisis in Europe in 2000. Reading some more about it today… fascinating stuff. Especially this analysis by Will Hutton of the Guardian, which pegs this crisis as a “smart mob” before that term came into vogue. Also pay attention to the lessons about “just in time” supply and how worker loyalties fall, when push comes to shove. From his article: “In other words, the new mania to maximise shareholder value above any other strategic corporate objective has exposed the whole delivery and supply system… If the Government wants more protection against a repeat, it will need to calm down the British corporate sectors’ increasing preoccupation with profit and self-interest.” As I said, fascinating.
Photo from BBC News archive