Oil Embargo of 1973
The 1973 Oil Crisis
By Sarah Horton
In October of 1973 Middle-eastern OPEC nations stopped exports to the US and other western nations. They meant to punish the western nations that supported Israel, their foe, in the Yom Kippur War, but they also realized the strong influence that they had on the world through oil. One of the many results of the embargo was higher oil prices all throughout the western world, particularly in America. The embargo forced America to consider many things about energy, such as the cost and supply, which up to 1973 no one had worried about (Spiegelman).
one must first know the history of the region and the Arab-
Israeli conflict. World War II a Zionist state, known as Israel, was created on 56% of the land that was formerly known as
Palestine. This state served as a homeland for Jews. The local Arabs were enraged by the fact that the Palestinian land had been taken to create this state. They refused to acknowledge Israel as an independent state. The Arabs began to launch efforts to recapture the land that they felt was rightfully theirs. This created the Suez-Sinai War. The British and the
French sided with the Israelis in order to punish Nasser for nationalizing the Suez Canal. The strong Israeli military forces quickly defeated the Arabs. The Arabs responded to this defeat by uniting. In 1967 Israel launched the Six-Day War, claiming much land. In 1973 Arab forces retaliated. On Yom Kippur, the holiest Jewish holiday, Arab forces attacked, backed by Soviet technology (The Mid-east Oil Crisis). Saudi Arabia 's King Faisal swayed other oil supporting countries into placing an embargo on crude oil to Western nations, in late October. This was meant to punish the Western states that had supplies weapons and aid to Israel (The Arab oil embargo of 1973-74). Arab oil-producing countries wished to pressure the Western
By Sarah Horton
In October of 1973 Middle-eastern OPEC nations stopped exports to the US and other western nations. They meant to punish the western nations that supported Israel, their foe, in the Yom Kippur War, but they also realized the strong influence that they had on the world through oil. One of the many results of the embargo was higher oil prices all throughout the western world, particularly in America. The embargo forced America to consider many things about energy, such as the cost and supply, which up to 1973 no one had worried about (Spiegelman).
one must first know the history of the region and the Arab-
Israeli conflict. World War II a Zionist state, known as Israel, was created on 56% of the land that was formerly known as
Palestine. This state served as a homeland for Jews. The local Arabs were enraged by the fact that the Palestinian land had been taken to create this state. They refused to acknowledge Israel as an independent state. The Arabs began to launch efforts to recapture the land that they felt was rightfully theirs. This created the Suez-Sinai War. The British and the
French sided with the Israelis in order to punish Nasser for nationalizing the Suez Canal. The strong Israeli military forces quickly defeated the Arabs. The Arabs responded to this defeat by uniting. In 1967 Israel launched the Six-Day War, claiming much land. In 1973 Arab forces retaliated. On Yom Kippur, the holiest Jewish holiday, Arab forces attacked, backed by Soviet technology (The Mid-east Oil Crisis). Saudi Arabia 's King Faisal swayed other oil supporting countries into placing an embargo on crude oil to Western nations, in late October. This was meant to punish the Western states that had supplies weapons and aid to Israel (The Arab oil embargo of 1973-74). Arab oil-producing countries wished to pressure the Western
Bibliography: Colton, Joel and Palmer R.R. A History of the Modern World. New York: Alfred A. Knopf, Inc., 1978. Frum, David