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Tuesday, November 28, 2023

Opinion | Echoes of the 1973 Oil Disaster Categorical Instances

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The assault on Israel on the fiftieth anniversary of the Yom Kippur Battle ought to remind us of one other anniversary: the 1973 Arab oil embargo. The conflict started on Oct. 6, and the Group of the Petroleum Exporting Nations lower manufacturing and raised costs on Oct. 17. By the top of the embargo in March 1974, the worldwide value of oil had climbed practically 300%. Service-station strains and “out of fuel” indicators grew to become a function of American life. The White Home had ration playing cards printed in secret (thankfully by no means used), and President Richard Nixon contemplated army motion to grab oil fields in Saudi Arabia, Kuwait and Abu Dhabi.

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