7 May, 2008 Oil Price Could Reach $200.00 per barrel in 6 months
2008 : Argun Murti the Goldman Sachs energy strategist has warned oil price 'may hit $200 a barrel' in 6 months due to the available supply to demand needs. Oil peaked at just under $150.00 per barrel July 2008 -- ( current price May 5thth 2021 -- $60.97 )
7 May, 1915 World War I Lusitania Sunk By Torpedo
1915 : A German torpedo sinks the British Ocean liner Lusitania off the Irish coast, killing nearly 1,200 people.
1945 Germany Surrenders
1945 : Germany signs unconditional surrender at Rheims in France bringing to an end six years of war in Europe.
7 May, 1941 U.S.A. "Chattanooga Choo Choo"
1941 : Glenn Miller and His Orchestra recorded "Chattanooga Choo Choo." The song was first featured in the 1941 movie "Sun Valley Serenade," a movie that starred many of the biggest names of the day. It became one of the most popular hits from the era and even has its own website.
1971 France The Concorde
1971 : The Concorde, the worlds first faster than sound passenger plane, took off for a 75 minute publicity flight to Toulouse carrying the french president on board.
1956 UK Health Minister Rejects Call for Smoking Bans
1956 : The British Health Minister RH Turton, rejects calls for a government campaign against smoking, saying no ill-effects have actually been proven from smoking and the link between smoking and lung Cancer has not been proved.
7 May, 1921 Ireland Starving
1921 : Over 5000 people have already starved to death in Ireland in 1921 and it is feared many more will follow.
7 May, 1931 U.S.A. Pay Cuts
1931 : A survey of Employers has revealed that those companies who are surviving since the stock market crash have drastically cut their work force and implemented wide ranging pay cuts among those employees who are still employed by up to 40% during the 1930s great depression.
1934 Philippines World's largest Pearl Found
1934 : The 9.45-inch, 14.1 lb "Pearl of Lao Tzu" is found by a diver in a giant clam in the Palawan Sea. Gemologists do not consider this to be a true pearl, as it does not have the mother of pearl, i.e. it does not have the iridescence that true pearls (which come from pearl oysters and pearl characteristics ). Clam pearls have no intrinsic value as a "gemstone", but only as a curiosity.
1941 Germany Bombing UK Cities
1941 : Germany continues to send large numbers of Bombers laden with bombs targeting Liverpool, North East, North West, Bristol and London, and each night British fighters go out trying to stop the destruction to towns and cities around the country , during last nights raids some 40 + German bombers were downed by British fighter pilots.
1947 U.S.A. Levittown, New York
1947 : Levitt and Sons, Builders announce a 2,000 home rental community at Island Trees later becoming Levittown, Hempstead, Long Island, New York ideal for GI's returning home following the end of World War II, the project used a new type of construction based on mass-production housing never used before, due to the prefabricated design they could build 30 houses a day. Following the success of the project they announced a further 4,000 homes which would be for sale not rental, offering ownership on a 30-year mortgage with no down payment and monthly costs the same as rental. After two years they began offering a larger home "a ranch house" 32 feet by 25 feet ( 800 Sq Ft ) for $7,990. The concept was copied all over the United States and modern suburbia was born.
1950 U.S.A. Major Storm
1950 : A major storm on the East Coast has caused a number of deaths and major flooding between New York and Boston with winds reaching 65 MPH.
1962 U.S.A. Wage Restraint Urged
1962 : JFK has warned unions to show responsible wage restraint or inflation could damage the US Economy the UAW was a big supporter for the JFK presidency.
1965 Rhodesia Ian Smith Wins
1965 : White voters in Rhodesia have overwhelmingly backed Prime Minister Ian Smith's Rhodesian Front which will unilaterally declare independence from the UK.
1977 U.S.A. Seattle Slew
1977 : Seattle Slew won the Kentucky Derby, the first of his Triple Crown victories for three-year-old thoroughbred horses. The Three Races for the Triple Crown in the US are (1) The Kentucky Derby, at Churchill Downs in Louisville, Kentucky; (2) The Preakness Stakes, at Pimlico Race Course in Baltimore, Maryland; (3) The Belmont Stakes, at Belmont Park in Elmont, New York.
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