Key post-World-War-II
oil shocks reviewed include the Suez Crisis of 1956 - 57, the OPEC
oil embargo of 1973 - 1974, the Iranian revolution of 1978 - 1979, the Iran - Iraq War initiated in
1980, the first Persian Gulf War in 1990 - 91, and the
oil price spike of 2007 - 2008.
The Murphy, as the bed is sometimes known, didn't see a resurgence until the late 1970s and early
1980s when the
oil embargo kicked in and Americans downsized, says Eugene Kolakowski, vice president of Murphy Bed Co..