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	1973 oil crisis - Wikipedia, the free encyclopedia
		The embargo was lifted in March 1974 after negotiations at the Washington Conference, but the effects of the energy crisis lingered on throughout the 1970s.
		The crisis was further exacerbated by government price controls in the United States, which limited the price of "old oil" (that already discovered) while allowing newly discovered oil to be sold at a higher price, resulting in a withdrawal of old oil from the market and artificial scarcity.
		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.
	en.wikipedia.org /wiki/Oil_embargo_crisis (3980 words)

	AllRefer.com - embargo (Political Science: Terms And Concepts) - Encyclopedia
		Although an embargo can cripple a nation's economy, the use of an embargo alone has typically failed to achieve the goal its imposition was intended to secure.
		Embargoes were authorized as a form of sanction by the Covenant of the League of Nations, and were applied against Paraguay in 1934 in the Chaco dispute (see Gran Chaco) with Bolivia, and against Italy for its invasion of Ethiopia (1935–36).
		Article 41 of the United Nations Charter permits embargoes in cases of military aggression, and during the Korean War, the United Nations called upon its members to refrain from sending arms and strategic materials to territory controlled by the North Koreans and Chinese.
	reference.allrefer.com /encyclopedia/E/embargo.html (425 words)

	Arab Oil Embargo biography .ms (Site not responding. Last check: 2007-11-07)
		Oil is the lifeblood of the industrialized nations.
		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.
		As for the embargo, the Arabs lifted it against the U.S. on March 18, 1974.
	arab-oil-embargo.biography.ms (932 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)

	A Crisis of Oil Information (Site not responding. Last check: 2007-11-07)
		As emergency oil allocations coordinator for the International Energy Agency (IEA), Koenig became the closest thing the world has ever had to an international oil ombudsman, and his outlook on the crisis, outlined in classified IEA documents, differs substantially from the version given the public by U.S. government and industry spokesmen.
		Major oil companies exacerbated a relatively minor shortage by building up "excessive" stockpiles of oil and gasoline during the spring and early summer of 1979, instead of releasing the supplies to the marketplace.
		Oil executives criticized Koenig’s report as unfair and based on what several called "20-20 hindsight." They said that even though Iran resumed oil exports in March, 1979, turmoil in the new revolutionary regime caused companies to hold onto some stocks as a prudent hedge against further disruptions.
	www.aliciapatterson.org /APF0403/Donovan/Donovan.html (2849 words)

	Alexander's Gas & Oil Connections - Memories of oil embargo fade as potential oil crisis looms
		On Oct. 17, OPEC imposed an oil embargo on the United States and The Netherlands and raised prices 70 % on America's allies in Western Europe.
		Oil companies say the global picture is not as bad as some analysts portray it.
		Most energy experts agree that without an event of the magnitude of the 1973 embargo, there will not be the political will to force any significant change in US oil consumption.
	www.gasandoil.com /goc/news/ntn34445.htm (1238 words)

	70's (Site not responding. Last check: 2007-11-07)
		The resounding impact in the United States of this embargo was compounded by weak national policies on energy issues, as well as generally high consumption levels and panic-stricken investors.
		It is important to emphasize that the energy crisis in the United States cannot be explained simply as the result of the political alliances.
		The 1973 oil crisis did not wholly cause the energy crisis, though it is important to understand its impact and its catalyzing component.
	cr.middlebury.edu /es/altenergylife/70's.htm (1546 words)

	oil crisis
		The OPEC oil crisis (Autumn 1973): historical context, economic...
		This marks the 25th anniversary of the energy crisis of 1973, in some ways the most pivotal year in...
		The Philippines imports nearly all its oil requirements, and the country is bracing for a possible oil crisis that could undermine economic and corporate growth...
	crisis.n100.info /oil-crisis (364 words)

	Government Price Manipulations and Fictional Economic Booms
		Even though it may be made to fit the data of oil consumption during the energy crisis, it does not explain the end of the crisis in the 1980s when the price of oil stabilized at lower levels.
		The government's manipulation of the price of crude oil over a seven year period had repercussions which disrupted the lives of millions of Americans and led to large losses as decision makers sought profit where none was to be found.
		The shortage in gasoline due to the embargo was the result of existing energy regulations and not the general price controls of the Nixon administration.
	www.leaderu.com /offices/cleveland/docs/boom.html (3265 words)

	OPEC Oil Embargo Leaves World Economy Threatened
		The Organization of Petroleum Exporting Countries (OPEC) has inflicted an oil embargo on the United States in revenge for its continuing support for the state of Israel.
		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)

	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.
		Starting with lengthening queues at the pump, the energy crisis reached such a pitch by the end of the year that the US opted not to switch on the lights on the national Christmas tree.
		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)

	Rumblings of an Arab oil embargo \| csmonitor.com
		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 (1315 words)

	The Third Oil Crisis? (Site not responding. Last check: 2007-11-07)
		The point is that it would not take much worsening in the political situation to produce markets so tight that the logic of market power kicks in and countries decide that, quite aside from politics, their financial interest lies in reducing, not increasing, their output.
		After the oil crises of the 1970's, Western economies sharply increased their energy efficiency: the U.S. economy was a third bigger in 1985 than it was in 1973, but it consumed less oil.
		This is clearly an opening gun in a campaign to blame any oil price rises that may occur on Bush, as a result of his presumed mishandling of the Middle East crisis.
	www.freerepublic.com /focus/news/662882/posts (1452 words)

	Educate Yourself - The Arab Oil Embargo of 1973-74
		With the recent turmoil in the Middle East, there has been increased talk of the possibility for an Arab oil embargo against the U.S. and other supporters of Israel.
		But on October 17, OPEC struck back against the West by imposing an oil embargo on the U.S., while increasing prices by 70% to America's Western European allies.
		Well, as you might imagine shares in oil stocks performed well as profits soared, but the rest of the market swooned 15% between 10/17/73 and the end of November.
	www.buyandhold.com /bh/en/education/history/2002/arab.html (1265 words)

	Another oil crisis in the making (Site not responding. Last check: 2007-11-07)
		Oil prices have risen about $10 per barrel since the situation in the Middle East began deteriorating.
		The point is that it would not take much worsening in the political situation to produce markets so tight that the logic of market power kicks in and countries decide that their financial interest lies in reducing, not increasing, their output.
		Each $10-per-barrel increase in the price of oil is like a $70 billion tax increase, one that falls most heavily on middle- and lower-income families.
	www.sfgate.com /cgi-bin/article.cgi?f=/c/a/2002/04/10/ED156140.DTL (610 words)

	Oil and crisis
		It wasn't just the slump in world oil prices nor the continuing wrangles about export routes, amid fears of regional instability (the Caspian is a sea ringed by Kurds, Turks, Iranians, Chechens and others who are constantly in a state of war).
		The latest round of maintaining embargo on Iraqi exports (they are potentially biiig) was handy for keeping the price from falling even further.
		20 years ago the sexy thing was oil sands and oil shales - truly enormous reserves of combustible hydrocarbons, but both low-grade and technologically difficult, which means ideally prone to the tendency for fall in the rate of profit.
	www.marxmail.org /archives/january99/oil.htm (1386 words)

	End of Cheap Oil @ National Geographic Magazine (Site not responding. Last check: 2007-11-07)
		While oil demand is up everywhere, the U.S. remains the king of consumers, slurping up a quarter of the world's oil—about three gallons a person every day—even though it has just 5 percent of the population.
		But in the end the quest for more cheap oil will prove a losing game: Not just because oil consumption imposes severe costs on the environment, health, and taxpayers, but also because the world's oil addiction is hastening a day of reckoning.
		In December 1975, in response to the Arab oil embargo of the previous two years, President Ford signed the reserve into action, creating the world's largest stockpile of emergency crude oil.
	magma.nationalgeographic.com /ngm/0406/feature5 (1552 words)

	School 21st Century World - Resources
		This was a direct result of Arab oil producers deciding to use oil shipment as a political and economic weapon in their ongoing conflict with the state of Israel.
		Oil prices skyrocketed, with the well-head price of a barrel of oil moving from $2.90 to $11.65.
		Examples of such transfers included an oil refinery sending phenol by-product to a plastics manufacturer and a popcorn producer transferring, at no cost, its wastes to a pig farmer; in this case it was cheaper to give the material away than it was to dispose of it.
	www.design4effect.com /soc11/res.htm (9859 words)

	Beyond Big Oil's "energy crisis"
		During the 1973 crisis, the government sold the public on the Alaska pipeline.
		After the 1973 crisis, speed limits were reduced, the National Strategic Oil Reserve was created, and car manufacturers produced smaller, more fuel-efficient vehicles.
		Oil is a global commodity, but it is also a non-renewable energy source; there is only so much of it on this little planet of ours and when it is gone, it's gone.
	www.newhumanist.com /WhatEnergyCrisis.html (1963 words)

	opec oil crisis (Site not responding. Last check: 2007-11-07)
		On October 17, 1973, the Organization of Arab Petroleum Exporting Countries (opec) declared an embargo on the shipment of oil to...
		The act dates from 1976, just a few years after the OPEC oil crisis in which the pumps ran dry.
		The OPEC oil crisis was a major issue during the beginning period of the 1970's and it helped show America how much it relied...
	crisis.n100.info /opec-oil-crisis (467 words)

	Al Gore's Oil Crisis [Free Republic]
		First, from 1997 to the early spring of this year when Asia was suffering from a severe recession, the global demand for gasoline in the Orient was dramatically reduced.
		Big oil, as in Exxon, BP-Amoco, Shell, etc., have vested interests in foreign oil that they are not willing to jeopardize.
		When we start blaming oil companies for the lack of fuel oil this winter, we need to remember who has been in charge of that deficit.
	www.freerepublic.com /forum/a39e0919a588a.htm (2432 words)

	The 1970s (1970-1979)
		Plagued by gasoline shortages, rising energy prices, and inflation, this decade is most remembered for its energy crisis, which revealed the nation's dependence on foreign oil and inspired numerous energy conservation efforts.
		The Arab oil embargo in 1973 brought an end to the era of secure, cheap oil.
		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.
	www.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.
		A year of bad news was punctuated in December, when the President announced that because of the energy crisis the lights on the national Christmas tree would not be turned on.
		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.
	www.eia.doe.gov /emeu/25opec/anniversary.html (560 words)

	JS Online: Irrational exuberance, R.I.P.
		Suddenly, it's beginning to feel a bit like the bad old days of the 1970s, when an Arab-Israeli war, oil embargo, energy crisis and stagnating economy seemed to send signals that nothing was going right.
		The Cold War and the Soviet Union are history; the United States has fought a war to protect oil fields in Saudi Arabia and Kuwait; the American economy is strong - still in the longest expansion since they began keeping records of such things.
		It's difficult and perhaps hardhearted to argue that the two-legged decline in the market indexes - first in March and April, more recently since Labor Day - is a force for good.
	jsonline.com /news/editorials/oct00/market-edit101200.asp?format=print (497 words)

	MSN Encarta - Print Preview - Mining
		In the U.S., mining employment generally declined through the late 1960s.
		In the early 1970s, however, with the Arab oil embargo (see Energy Supply, World: The Energy Crisis), coal reemerged as an important fuel.
		As production increased, so did employment—to more than 200,000 men and women in the early 1980s.
	encarta.msn.com /text_761575410___3/Mining.html (862 words)

	1975 Electric CitiCar
		This is the car my dad and I zoom around in.
		About 2500 of these were produced starting in 1975 during the oil embargo crisis.
		This particular model was one of the first made.
	www.bjharding.com /citicar (171 words)

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