OPEC is the new Amazon
A little historical background
The first time I ever consciously thought about oil supply was 1973. On October 6, 1973 Egypt and Syria launched a surprise attack on Israel, kicking off the Yom Kippur War. The U.S. sided with Israel and the Arab members of OPEC retaliated by first imposing price increases and then an oil export ban on the U.S.
At the time the U.S. produced less than two-thirds of its oil needs; OPEC accounted nearly two-thirds of imports. Consequently, almost 25% of our oil came...
The first time I ever consciously thought about oil supply was 1973. On October 6, 1973 Egypt and Syria launched a surprise attack on Israel, kicking off the Yom Kippur War. The U.S. sided with Israel and the Arab members of OPEC retaliated by first imposing price increases and then an oil export ban on the U.S.At the time the U.S. produced less than two-thirds of its oil needs; OPEC accounted nearly two-thirds of imports. Consequently, almost 25% of our oil came...
No comments have been added yet.
