This is the seventh of nine parts of the H-Energy 1973 Energy Crisis Anniversary Discussion. Dr. Priest provides an assessment of the long-term implications of the oil shock on the international petroleum industry. Highlighted are the effects of nationalizations on major companies operating in producing countries, the difficulties the major petroleum companies had in coping with price volatility, technological innovation within the industry, and most importantly, the push for supplies outside of OPEC. First published on H-Energy in January 2014.