1990 oil price shock

Okay kiddo, so back in 1990, there was a big problem with the price of oil. Oil is the stuff that makes cars go and it's used to create electricity and heat homes. It's also really important for making and delivering things like food and clothes.

Now, usually, the price of oil stays pretty stable. But in 1990, a bunch of different things happened all at once that made the price go up really quickly. Some countries that produce a lot of oil had a war, which made it harder to get the oil out of the ground. At the same time, some other countries stopped producing as much oil, which made it even harder to find enough oil to go around.

When there isn't enough of something to go around, people start to pay more for it. This is what happened with oil in 1990. The price went up so fast that it shocked a lot of people. Suddenly, it was more expensive to drive your car and to heat your house. It was also more expensive to make and deliver things, which meant that prices for everyday items went up too.

The oil price shock of 1990 was a big deal because it affected so many parts of everyday life. People had to spend more money on basic things, which made it hard for some families to make ends meet. It also made businesses have to charge more for their products, which made things even harder for people.

Thankfully, the price of oil eventually went back down and things went back to normal. But it teaches us an important lesson about how important things like oil can be and how much they can affect all of us.