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US energy revolution will end old Opec regime

Posted on 15 October 2013

Wednesday marks the 40th anniversary of the Arab oil embargo, a turning point for US energy security policy. The embargo was imposed by the Organization of Arab Petroleum Exporting Countries after the Yom Kippur war. Oapec banned oil exports to Israel’s supporters – the US and the Netherlands – tightening the oil markets to lead to a 400 per cent price rise.
It used the promise of oil exports on favourable terms to separate them from Nato partners………………………………………..Full Article: Source


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