The 1973 oil crisis saw oil prices in North America quadruple in only a few months. People formed long lines to fill up as gas stations were running out of fuel. The oil crisis created an oil boom in Alberta. This boom generated more new multi-millionaires than any time before in Canadian history. Hoping for a piece of the wealth, 4000 people a month were coming to Alberta. The province's population grew by a third in the 1970s. At the peak of the boom, Calgary was issuing more than 1 billion dollars worth of construction permits annually, more than populous American cities like Chicago and New York.
The oil crisis of 1973 prompted many changes in the way we produce, consume, and distribute our energy. Many tensions were created, as Alberta and the federal government did not have the same view on many of these issues. In response to the 1973 oil crisis, more research was done on alternative energy sources, such as wind and solar power as well as nuclear energy. North American auto manufacturers began to produce more fuel efficient automobiles.
One of these cars was a new subcompact from Chevrolet, the Chevette. Weighing in at 1998 pounds and carrying a sticker price of $2899USD, the Chevette was introduced in September 1975. In its first production year, the largest engine available was an Isuzu produced single-overhead-cam 1.6 liter. With 62hp at the crank, the car received an EPA-rating of 40mpg highway. Production continued until 1987 when it was replaced with the Chevrolet Sprint.