B. The Arab-Israeli conflict
The Arab countries, principally Saudi Arabia, refused to sell the US and other countries oil due to our decision to help Israel restock military weapons after the Yom Kippur war. See link.
oil crisis of 1973
The 1973 Oil Crisis.
The International Eneergy Agency is located in Paris. It began due to the oil crisis which happened during 1973 and 1974, and helped with the needs of individual countries oil demands.
October 6th 1973 Oil Crisis was a direct cause of the Economical Crisis. OAPEC refused to export petrol to supporters of Israel because of the Yam Kippur War where Syria and Egypt invaded Israel. Basically they issued an oil embargo. Alongside the oil crisis, USA had decided to float the dollar, which was devalued.
The OPEC nations dramatically raised oil prices.
to pressure Israe to give back land it had taken by (ACT)
to pressure Israe to give back land it had taken by (ACT)
to pressure israael to give back land it had taken
to pressure israael to give back land it had taken
to pressure Israe to give back land it had taken by (ACT)
1973. 1973 oil crisis - Cause: an OPEC oil export embargo by many of the major Arab oil-producing states, in response to western support of Israel during the Yom Kippur War 1979 energy crisis - Cause: the Iranian revolution 1990 spike in the price of oil - Cause: the Gulf War The 2000-2001 California electricity crisis - Cause: failed deregulation, and business corruption. The UK fuel protest of 2000 - Cause: Raise in the price of crude oil combined with already relatively high taxation on road fuel in the UK. North American natural gas crisis
Because of U.S. support for Isreal during the 1973 Yom Kippur War, the Arab oil countries stopped selling oil to the United States, which sent world oil prices soaring. The United States experienced an energy crisis as a result of this action; long gas lines and calls for energy conservation are the norm.