Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

OPEC Oil Embargo of 1973

13,004 views

Published on

Published in: Business, News & Politics
  • Be the first to comment

  • Be the first to like this

OPEC Oil Embargo of 1973

  1. 1. OPEC OIL EMBARGO OF 1973“On October 17, 1973, Arab oil producers declared anembargo that drastically limited the shipment of oil to theUnited States” (“OPEC…Embargo”).
  2. 2. Why an Embargo?• “On October 6, 1973, Egypt and Syria launched a military offensive against Israel in a conflict that came to be known as the Yom Kippur War, after the Jewish holy day that marked the conflicts first day” (“The Energy…Home”)• The U.S. gave aid to Israel in this war• Then, the 7 Arab nations in the OPEC (Organization of Petroleum Exporting Countries) declared an oil embargo on the U.S. (“The Energy…Home”)
  3. 3. Immediate Impact• Prior to the embargo, the U.S. was heavily dependent on Middle Eastern oil for energy• Following the embargo, “daily shipments of oil from the Middle East dropped from 1.2 million barrels to a scant 19,000 barrels” (“OPEC…Embargo”)• A panic erupted within the U.S., as citizens thought this could be karma for their exploitation of Middle Eastern oil and ultimately lead to the destruction of their society
  4. 4. Immediate Impact (Cont.) As a result of the limit on oil, lines at gas stations grew tremendously.
  5. 5. Significance“The energycrisis…led to afundamentalreevaluation of thetypical American’slifestyle” (“TheEnergy…Home”)
  6. 6. Significance (Cont.)• In cities and suburbs throughout America, fuel efficiency and conservation of energy were emphasized• “The energy crisis also contributed to a new awareness of the environmental impact of America’s past energy consumption” (“The Energy…Home”)• In conclusion, as a result of the OPEC Oil Embargo of 1973, citizens and government officials were made aware of their impacts on the environment and the economy in their efforts towards expansion and industrialization for energy
  7. 7. Sources• "OPEC Oil Embargo ." Gale Encyclopedia of U.S. Economic History. Ed. Thomas Carson and Mary Bonk. N.p., n.d. Web. 15 May 2012.• "OPEC Oil Embargo Leads to Long Gas Station Lines." Gale Encyclopedia of U.S. Economic History. Ed. Thomas Carson and Mary Bonk. Detroit: Gale, 2010. Gale U.S. History In Context. Web. 28 May 2012. (Image on Slide 4)• "The Energy Crisis Hits Home." American Decades Primary Sources. Ed. Cynthia Rose. Vol. 8: 1970- 1979. Detroit: Gale, 2004. 382-385. Gale U.S. History In Context. Web. 28 May 2012. (Image on Slide 5)

×