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Topic: 1973 oil embargo


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In the News (Sat 26 May 12)

  
  Reference.com/Encyclopedia/1973 oil crisis
Oct. 23–28 - The Arab oil embargo is extended to the Netherlands.
The embargo was lifted in March 1974 after negotiations at the Washington Oil Summit, but the effects of the energy crisis lingered on throughout the 1970s.
The 1973 oil crisis was a major factor in Japan's economy shifting away from oil-intensive industries and resulted in huge Japanese investments in industries like electronics.
www.reference.com /browse/wiki/1973_oil_crisis   (4086 words)

  
  Encyclopedia: 1973 oil crisis
The complete dependence of the industrialized world on oil, much of which was produced by Middle Eastern countries, became painfully clear to the U.S., Western Europe, and Japan, requiring Western policymakers to respond to international economic constraints that were qualitatively different from those faced by their predecessors.
The embargo was lifted in March 1974 after negotiations at the Washington Oil Summit, but the effects of the energy crisis lingered on throughout the 1970s.
The 1973 oil crisis was a major factor in Japanese economy shift away from oil-intensive industries and resulted in huge Japanese investments in industries like electronics.
www.nationmaster.com /encyclopedia/1973-oil-crisis   (7953 words)

  
 Read about 1973 oil crisis at WorldVillage Encyclopedia. Research 1973 oil crisis and learn about 1973 oil crisis here!   (Site not responding. Last check: 2007-10-14)
The complete dependence of the industrialized world on oil, much of which resided beneath the surface of Middle Eastern countries, became painfully clear to the U.S., Western Europe, and Japan, marking a watershed requiring Western policymakers to respond to international economic constraints that were qualitatively different from those faced by their predecessors.
Iran, whose nation was the world's second-largest exporter of oil and the closest ally of the United States in the Middle East at the time.
Australia, heating oil ceased to be considered to be an appropriate winter heating fuel.
encyclopedia.worldvillage.com /s/b/1973_energy_crisis   (3936 words)

  
 1973 Oil Crisis
Nixon, who was president at that time, ordered the department of defense to create a stockpile of oil in case the country needed the military to carry it through a time of chaos.
One of the long-term effects of the embargo was a economic recession throughout the world.
Although the embargo ended only a year after it began in 1973, the OPEC nations had quadrupled the price of oil in the West.
www.ccds.charlotte.nc.us /History/MidEast/04/horton/horton.htm   (1472 words)

  
 Articles - Energy crisis   (Site not responding. Last check: 2007-10-14)
Oil supply is largely controlled by the national oil companies of nations with significant reserves of cheap oil, including the UAE, Saudi Arabia, Venezuela, Norway and Kuwait.
In addition, the economies of oil exporting nations are dependent on oil and efforts to restrict the supply of oil would have an adverse effect on the economies of oil producers.
Oil demand is also seasonably variable as the countries of the Northern hemisphere, who dominate global oil consumption, consume more oil in the winter for home heating.
www.go-trucks.com /articles/Oil_Crisis   (1233 words)

  
 ANWR Feature - IOGCC Raises Awareness of Oil Embargo 25th Anniversary
The 25th anniversary of the 1973 Arab oil embargo, which resulted in gasoline shortages and consumer panic, is fast approaching.
The Interstate Oil and Gas Compact Commission is working to create a public awareness project that reminds consumers and policy-makers about the real world impact of overdependence on imported oil.
Oil imports have risen from 28 percent in the early 1970s to over 50 percent in 1998, according to statistics released by the U.S. Energy Information Administration (EIA).
www.anwr.org /features/embargo.htm   (213 words)

  
 Educate Yourself - The Arab Oil Embargo of 1973-74
Oil is the lifeblood of the industrialized nations.
In 1973, the U.S. and the Western world were in the midst of an inflationary spiral.
Industrial democracies, accustomed to uninterrupted sources of cheap, imported oil, were suddenly at the mercy of a modern Arab nationalism, standing up to American oil companies that had once held their countries in a vise grip.
www.buyandhold.com /bh/en/education/history/2002/arab.html   (1265 words)

  
 Result of the Oil Embargo of 1973?
Led by Saudi Arabia, OPEC announced on October 16, 1973, as part of the political strategy that accompanied the Yom Kippur War, that the Arab countries were cutting production and placing an embargo on shipments of crude oil to Western countries, the US and the Netherlands in particular.
During the October 1973 to March 1974 embargo period, crude oil supplies in the US grew tightest in February 1974 and even then were only 5.1 percent lower then the daily average for the first three-quarters of the preceding year.
Threat of an oil embargo on the U.S. is a bluff
www.palestinefacts.org /pf_1967to1991_oilembargo_result.php   (645 words)

  
 Energy Plug: 25th Anniversary of the 1973 Oil Embargo: Energy Trends Since the First Major U.S. Energy Crisis   (Site not responding. Last check: 2007-10-14)
Twenty-five years after the oil embargo by members of the Organization of Petroleum Exporting Countries (OPEC) shocked energy markets and created long lines for gasoline in the United States, U.S. dependence on imported oil is at an all-time high.
Encouraged by high oil prices, end-use consumers sought ways to conserve energy and switch to other fuels, driving down the import share of total consumption in the late 1970s and early 1980s.
U.S. crude oil reserves fell 31 percent between 1977 and 1997, to 22 billion barrels.
www.eia.doe.gov /emeu/plugs/pl25yrs.html   (304 words)

  
 BBC News | BUSINESS | Analysis: Another oil embargo?
The idea of an oil embargo is slowly gaining ground in the Muslim world as it attempts to freeze out Israel, and whose powerful allies in Europe and the US rely on Middle Eastern oil.
By the end of the 1980s, crude oil prices were more than 10 times their 1973 levels - and despite a stumble in the 1980s, they have never looked like heading south for good.
Few analysts reckon enough Islamic oil producers feel sufficiently strongly about the Israeli unrest to shut off the oil taps for any protracted period; as in all cartels, the temptation to break ranks could be unbearable.
news.bbc.co.uk /1/hi/business/1913252.stm   (881 words)

  
 FOXNews.com - Experts Mull Threat of Another Oil Embargo - Politics | Republican Party | Democratic Party | Political ...
Oil imports from the Middle East have doubled since the 1970s, and now are about one-fourth of total imports.
The embargo, which lasted into 1974, ultimately led to stagflation, an economic condition where persistent inflation is combined with low consumer demand and high unemployment.
New, higher-cost oil fields were developed in the North Sea and elsewhere, conservation programs were implemented and new energy sources were explored.
www.foxnews.com /story/0,2933,100343,00.html   (991 words)

  
 Encyclopedia article on 1973 oil crisis [EncycloZine]   (Site not responding. Last check: 2007-10-14)
Between 1945 and the late 1970s, the West and Japan consumed more oil and minerals than had been used in all previous recorded history.
The large automobiles of the 1950s and 1960s were replaced by far more compact and energy efficient models.
(This, incidentally, was claimed by some to have caused traffic fatalities to drop by 23 percent between 1973 and 1974.) President Nixon named William Simon as an official "energy czar," and in 1977 a cabinet-level Department of Energy was created, which led to the creation of the United States' Strategic Petroleum Reserve.
encyclozine.com /Oil_embargo_crisis   (3321 words)

  
 Apache Corporation > Defining Moments: 1973 Oil Embargo
In October of 1973, the Organization of Petroleum Exporting Countries (OPEC) began to reduce exports of oil to western nations that supported Israel.
Oil prices quadrupled and gasoline prices climbed from $0.25 per gallon to over $1.00.
The 1973 Oil Embargo, and the higher pricing environment it spawned, convinced Apache's management that oil and gas could finally support long-term growth and profitability.
www.apachecorp.com /Explore/Explore_Features/20061016/Defining_Moments_1973_Oil_Embargo   (201 words)

  
 S/R 11: Reflections on the U.S. Nuclear Industry's 25 Lean Years
Their judgment appeared confirmed in 1973, when the Arab oil embargo demonstrated the dangers of oil dependence.
From the 1973 oil embargo through the 1979 Three Mile Island accident and its aftermath, the nuclear industry suffered one setback after another, until the official consensus for nuclear power frayed and finally unraveled.
After the oil embargo, few interest groups in America embraced nuclear power more eagerly than the American foreign-policy establishment-the network of government officials, insiders and academics centered in Washington, New York and Cambridge, Mass.
www.greens.org /s-r/11/11-07.html   (2871 words)

  
 [casi] the US DOE analysis of 1973 oil embargo
The year 1973 is still remembered for a sharp run-up in energy prices, energy shortages, and long lines at many gasoline stations.
In light of all the speculation about a possible oil embargo on >the United States by Iraq (which will certainly not be supported by anyone >else, with the extremely unlikely possible exception of Iran), I thought a >historical note about the effect of such embargoes.
The other was a specific embargo targeted at the United States and >the Netherlands for their support of Israel.
www.casi.org.uk /discuss/2002/msg00531.html   (608 words)

  
 Energy Information Administration
Most memorably, October brought an oil embargo by members of the Organization of Arab Petroleum Exporting Countries, cutting further into the supply of oil and elevating prices to levels previously thought impossible.
The purpose of this presentation is not to assess the causes of the 1973 energy crisis or the measures that were adopted to resolve it.
From 1973 to the mid-1980's, prices continued at very high levels, in part because of a second oil shock in 1979-80.
www.eia.doe.gov /emeu/25opec/anniversary.html   (560 words)

  
 History of the Ford Bronco   (Site not responding. Last check: 2007-10-14)
Price control systems that were implemented at the time only aggravated the problem, and by October of 1973 The Organization of Arab Petroleum Exporting Countries (OPEC) implemented an oil embargo that nearly crippled the country.
It has been speculated by many that the onset of the 1973 OPEC oil embargo was by far the main reason that the introduction of the full-size Bronco was delayed until the 1978 model year.
The combination of the OPEC oil embargo of 1973-1974 and the engineering difficulties Ford had to overcome delayed the introduction of the second-generation by four years, which meant that even before it was released it was already obsolete.
www.projectbronco.com /History/78_79_History/history_of_Bronco.htm   (1532 words)

  
 Fact-O-Rama -- What if There Was a Repeat of 1973 Oil Crisis?
In evaluating whether an OPEC embargo on the United States could happen again, consider the roster of OPEC countries: Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.
Now consider that in January of this year, the U.S. imported an average of 5.522 million barrels of oil per day from OPEC countries.
That is nearly twice as much as the 2.993 million barrels that the U.S. averaged in daily imports from OPEC in 1973.
www.cnsnews.com /Facts/2006/facts2006413.asp   (174 words)

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