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Topic: Arab Oil Embargo

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In the News (Fri 22 Mar 19)

  1973 oil crisis - Wikipedia, the free encyclopedia
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.
With the onset of the embargo, U.S. imports of oil from the Arab countries dropped from 1.2 million barrels (190,000 m³) a day to a mere 19,000 barrels (3,000 m³).
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.
en.wikipedia.org /wiki/1973_energy_crisis   (4167 words)

 1973 oil crisis -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-10-22)
The embargo was not blanket in (The 2nd smallest continent (actually a vast peninsula of Eurasia); the British use `Europe' to refer to all of the continent except the British Isles) Europe.
The embargo was lifted in March 1974 after negotiations at the Washington Conference, but the effects of the energy crisis lingered on throughout the (The decade from 1970 to 1979) 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 (The branch of physics that deals with the emission and effects of electrons and with the use of electronic devices) electronics.
www.absoluteastronomy.com /encyclopedia/1/19/1973_oil_crisis.htm   (3907 words)

 Arab Oil Embargo   (Site not responding. Last check: 2007-10-22)
The oil discovery at Spindletop in Beaumont, Texas in 1901...
He also played a key role in promoting the use of oil embargoes as a political weapon for challenging the West, hoping that an oil price rise and embargo in 1973 would persuade the West--especially...
During the 1960s, the predominant ideology within the Arab world was pan-Arabism which deemphasized religion and emphasized the creation of a socialist, secular state based on Arab nationalism rather than Islam.
www.middleeastresources.com /middle/Arab+Oil+Embargo   (1123 words)

 Educate Yourself - The Arab Oil Embargo of 1973-74
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.
Many of these "new" Arabs were Harvard educated and familiar with the ways of the West, and to many Americans it was impossible to understand how their standard of living was now being held hostage to obscure border clashes in strange parts of the world.
As for the embargo, the Arabs lifted it against the U.S. on March 18, 1974.
www.buyandhold.com /bh/en/education/history/2002/arab.html   (1265 words)

 1973 Oil Crisis
Arab oil-producing countries wished to pressure the Western countries, specifically America into demanding that Israel withdraw their troops from the Arab territories that they had occupied since 1967.
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.
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)

 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)

 Seizing Arab Oil (Harpers.org)   (Site not responding. Last check: 2007-10-22)
Oil payments to the Arab members of OPEC amounted to $8.5 billion in 1972, and are projected at $65.4 billion for 1975, and $101 billion for 1980—an increase of just under 200 percent in eight years.
The local oil workers know this, and they also know that if they are expelled from Saudi fields, their next available employer is going to be hundreds of miles to the north, at much lower Iraqi wages.
And since no one denies that the dependence of the Western world on Arab oil is absolute, if their analysis were correct, it would mean that we are living at the mercy of the Arabs, that is to say, as Prof.
www.harpers.org /SeizingArabOil.html   (7887 words)

 OPEC Oil Embargo Leaves World Economy Threatened
The Arab states that make up OPEC will come out of this with higher profits seeing as the 70% rises they are insisting on will more than make up for the shortfall in revenues caused by the embargo to the United States.
American oil consumption has risen alarmingly over the last few years and has left the economy there highly vulnerable to a dramatic decision such as this.
Allied with the fact that home-grown oil production has been falling in the United States and you have a recipe for what could turn out to be a biting recession on its way for Washington.
www.dailypast.com /business/oil-embargo.shtml   (774 words)

 Rumblings of an Arab oil embargo | csmonitor.com   (Site not responding. Last check: 2007-10-22)
The prospect of oil prices being driven by the deployment of Israeli tanks and the future of Yasser Arafat may be moving closer.
In a development reminiscent of 1973, when Arab nations embargoed oil to the US and gas lines suddenly snaked for blocks throughout the nation, Iraq and Iran are trying to rally Gulf support for again using the denial of oil as a geopolitical weapon against the US and other industrialized nations.
Oil prices are already at a six-month high of $28 per barrel – rising almost $2 in just one day this week.
www.csmonitor.com /2002/0404/p01s02-usec.html   (1305 words)

 History and Analysis -Crude Oil Prices
In 1972 the price of crude oil was about $3.00 per barrel and by the end of 1974 the price of oil had quadrupled to over $12.00.
If there was any doubt that the ability to control crude oil prices had passed from the United States to OPEC it was removed during the Arab Oil Embargo.
Drilling an oil or gas well is a capital investment in the expectation of returns from the production of crude oil or natural gas.
www.wtrg.com /prices.htm   (3298 words)

 Fuel efficiency push fades with memories of first Arab oil embargo 30 years ago   (Site not responding. Last check: 2007-10-22)
Energy was cheap and plentiful: A barrel of oil cost $3, the typical American car got about 12 miles per gallon, and the might of U.S. oil companies seemed unassailable.
On Oct. 17, OPEC imposed an oil embargo on the United States and the Netherlands and raised prices 70 percent on America's allies in Western Europe.
Oil companies say the global picture is not as bad as some analysts portray it.
www.post-gazette.com /pg/03290/231801.stm   (806 words)

 Arab Monetary Fund - Hutchinson encyclopedia article about Arab Monetary Fund
Money reserve established in 1976 by many Arab states plus the Palestine Liberation Organization (PLO) to provide a mechanism for promoting greater stability in exchange rates and to coordinate Arab economic and monetary policies.
It operates mainly by regulating petrodollars within the Arab community to make member countries less dependent on the West for the handling of their surplus money.
The fund's headquarters are in Abu Dhabi in the United Arab Emirates.
encyclopedia.farlex.com /Arab+Monetary+Fund   (167 words)

 Result of the Oil Embargo of 1973?
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.
The collapse of the oil cartel in the 1980s, the transformation in the global energy markets, and the political disunity in the Arab world have made the notion of the "Arab oil weapon" a distant memory.
Threat of an oil embargo on the U.S. is a bluff
www.palestinefacts.org /pf_1967to1991_oilembargo_result.php   (645 words)

 In response to the Arab oil embargo of the early 1970s   (Site not responding. Last check: 2007-10-22)
In response to the Arab oil embargo of the early 1970s, Congress implemented the first miles per gallon standards in 1975 to protect consumers from high gasoline prices.
The drafters of the oil savings law realized the only way to reduce America's strong dependence on foreign oil was to reduce oil demand.
As a result of higher standards for cars and light trucks, consumers were able to go farther on a gallon of gas and at the same time reduce global warming gas emissions.
www.radicalhippie.com /CurrentIssues/gasPrices.htm   (399 words)

 Alexander's Gas & Oil Connections - Arab oil experts think embargo will be no longer effective   (Site not responding. Last check: 2007-10-22)
The experts, attending an energy conference in Abu Dhabi, said Arab League members could no longer be counted on to enforce such an embargo of Israel and the West.
They said the Arabs are threatened by emerging oil competitors, particularly Russia, that would make up for the shortfall.
They said a Gulf Arab oil embargo would severely weaken those two countries at the time when their dependence on the West is greater than ever.
www.gasandoil.com /goc/news/ntm22886.htm   (177 words)

 U.S. Middle East Policy and Oil
By 2005, the figure had risen to 57 percent, and Arab OPEC countries accounted in 2004 for 26 percent of U.S. imports (with non-Arab countries Indonesia, Venezuela, and Nigeria, the figure is 50 percent).
Egypt's President Sadat persuaded the late Saudi King Faisal to threaten to withhold oil from the West to exploit for political advantage the growing dependence of the industrialized West on Arab oil.
America's dependence on Arab oil has occasionally raised the specter of a renewed attempt to flmail the United States to abandon its support for Israel.
www.us-israel.org /jsource/US-Israel/usoil.html   (802 words)

 Chronology of World Oil Market Events 1970 - 2003   (Site not responding. Last check: 2007-10-22)
Arab oil ministers announce the end of the embargo against the United States, all except Libya.
Arab oil ministers decide to end most restrictions on exports of oil to the United States but continue embargo against the Netherlands, Portugal, South Africa, and Rhodesia.
Iraqi oil exports are expected to begin by the Fall of 1996, after a pumping station on the Iraq-Turkey pipeline is repaired and U.N monitoring and aid distribution facilities are put in place.
eiainfo.eia.doe.gov /emeu/cabs/chron.html   (17914 words)

 Americans Have Yet to Learn the Hard Political Lessons of the Arab Oil Embargo
On the 30th anniversary of the Arab oil embargo, we may want to reflect on the connections between the two.
But the embargo and the rise in oil prices after the Iranian Revolution brought the Ayatollah Khomeini to power in 1979 enabled Japanese auto manufacturers — who were producing small, fuel-efficient cars — to grab a secure place in the mainstream American market; Japanese cars have been fixtures on American highways ever since.
If the embargo had lasted too long, he might have sent airborne troops to take over their oil fields.
www.commondreams.org /views04/0322-12.htm   (1381 words)

 1973 oil crisis - Wikipedia, the free encyclopedia
5 - Arab producers announce a 25 percent output cut.
Saudi oil minister Yamani promises a 10 percent OPEC production rise.
It also meant that some enterprising individuals designed aftermarket gas-conversion kits that let these heaters burn natural gas or propane.
en.wikipedia.org /wiki/Arab_Oil_Embargo   (4167 words)

 Untitled Document   (Site not responding. Last check: 2007-10-22)
Now, they are not thinking terms of the 1973-4 all-Arab oil embargo - but rather of combining in an Iranian-Iraqi-Saudi bloc to stand against the US-Russian partnership.
As terrorism spreads, this hardline Muslim axis expects to apply the Arab oil embargo threat as an irresistible weapon for forcing the Bush administration to turn its back on Israel and swing its support behind Yasser Arafat.
However their threat alone is enough to throw world oil prices – expected to shoot up in the next day or two – into disarray, as well as shocking financial markets.
www.cuttingedge.org /na/na180.htm   (317 words)

 NCPA - Economic Issues - Inflation Caused Oil Price Hike In The 1970s   (Site not responding. Last check: 2007-10-22)
The first Arab oil embargo resulted from Egypt's attack on Israel on October 6, 1973.
In retaliation for President Richard Nixon's decision to provide $2.5 billion in arms to Israel, Saudi Arabia imposed an embargo on oil exports to the U.S. on October 19.
Although the embargo was lifted on March 18, 1974, the price of oil did not fall back to its pre-embargo level, remaining at about twice its previous level.
www.ncpa.org /pd/economy/pdeco/ecoct98f.html   (352 words)

 The 1970s (1970-1979)
The Arab oil embargo in 1973 brought an end to the era of secure, cheap oil.
As a result of the Arab-Israeli War, the Arab oil-producing countries cut back oil production and imposed trade embargoes on oil shipments to the United States and the Netherlands.
By the end of this decade, the price of crude oil was close to 19 times higher than it had been just 10 years before.
ecmweb.com /mag/electric_14   (2262 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.
During this period, rapid progress was made in raising American oil production, reducing dependence on oil imports, and improving end-use efficiency.
After the oil price collapse of the mid-1980's, however, prices retreated to more moderate levels, the pace of efficiency gains slowed, American oil production fell, and the share of imports rose.
www.eia.doe.gov /emeu/25opec/anniversary.html   (560 words)

 [60.04] Comet Kohoutek, The Arab Oil Embargo, and the Jan 1974 AAS Meeting   (Site not responding. Last check: 2007-10-22)
[60.04] Comet Kohoutek, The Arab Oil Embargo, and the Jan 1974 AAS Meeting
An unlikely combination of factors, including Comet Kohoutek and the Arab Oil embargo, combined to make my first AAS Meeting my most memorable.
Three young graduate students confronted lack of gas, lack of money, and lack of planning to attend the Jan 1974 meeting in Tucson, AZ.
www.aas.org /publications/baas/v31n3/aas194/517.htm   (148 words)

 DEBKAfile - Muslim Oil Embargo Threat Is Brandished – Influences Bush Turnaround   (Site not responding. Last check: 2007-10-22)
Friday, April 5, Iran’s spiritual leader, Ayatollah Ali Khamenei, called on Arab states to enforce a one-month oil embargo against Western countries, to pressure them to stop supporting Israel.
DEBKAfile ’s Gulf sources add that Iran’s leaders, backed by Iraq - with Saudi Arabia quietly active in the wings - are hard-selling their oil embargo plan.
All three producers will make sure to keep their markets in Japan and Europe - even if they have to bypass their own embargo.
www.debka.com /article_print.php?aid=701   (259 words)

 5-mo oil embargo by Arab states against U.S. and Netherlands begins October 17 in History
5-mo oil embargo by Arab states against U.S. and Netherlands begins October 17 in History
5-mo oil embargo by Arab states against U.S. and Netherlands begins
Nobody can be kinder than the narcissist while you react to life in his own terms.
www.brainyhistory.com /events/1973/october_17_1973_145015.html   (55 words)

 Middle East Newsline -
ABU DHABI [MENL] -- Arab oil experts are arguing that an embargo will no longer be effective.
NOTE: The above is not the full item.
For a subscription to the full service, please contact Middle East Newsline at:
www.menewsline.com /stories/2002/june/06_20_2.html   (182 words)

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