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This page is subject to the extended confirmed restriction related to the Arab-Israeli conflict. West Texas Intermediate oil price history from 1950–2000, adjusted for inflation (1947 prices) In October 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it was implementing a total oil embargo against countries that had supported Israel at any point during the ...
The 1973 oil crisis was a direct consequence of the US production peak in late 1960 and the beginning of 1971 (and shortages, especially for heating oil, started from there). The "embargo" as described below is the "practical name" given to the crisis.
The Israel-Hamas conflict has revived memories of the Yom Kippur War that sparked the 1973 oil crisis. Deutsche Bank’s strategists even warned this week that the odds of 1970s-style stagflation ...
The peak oil fears led to the iconic Mad Max movie series in 1979. The desert imagery of Road Warrior showing a resource-drained world became an archetypical default of post-apocalypse worlds. The screenplay writer James McCausland drew heavily from his observations of effects of the 1973 oil crisis on Australian motorists:
In honor of the upcoming election on November 8th, (don't forget to cast your vote!) take a break from this election and see how those before us have expressed themselves about issues of the time ...
Famous-Barr at St. Clair Square even announced that all exterior Christmas lighting decorations and replacement bulbs would be taken off the shelves to conserve energy.
The Grinch – in the guise of an oil embargo – just about stole Christmas in 1973. Henderson history: Christmas in 1973 had little joy because of energy crisis Skip to main content
The oil crisis of 1973 also had similarly large negative effects on other countries that relied heavily on imported oil, such as France, Sweden, Japan, Finland, Belgium, Luxembourg, and Denmark. In Sweden's particular case, the recession proved devastating to the shipping, ship-building, and logging and mining industries.