As it turned out, the Fed's tightening was not enough to contain the inflationary surge but was sufficient to generate a severe recession. The upshot is that the deep 1973-75 recession was caused only in part by increases in oil prices per se.
•  In doing so in all of these cases, the industry helped those in need and also cemented its reputation as a solid and reliable industry. This promptness to deliver gives people the means to carry on and businesses the confidence to start over.