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Commodities Briefing - Categorized | Oil, Trends more

Goodbye OPEC, hello independence

Posted on 21 October 2013

October 17 was the fortieth anniversary of the oil embargo slapped on America by the Organization of Petroleum Exporting Countries (OPEC). That action changed the entire geopolitical map—taking the power from the United States and giving it to the Middle East.
As a result of the embargo, the price of gasoline quadrupled, gas stations had multi-hour long lines, and the stock market plummeted—kicking off a serious recession. My entire driving life has been impacted by OPEC’s actions. On October 17, 1973, I was 15—days away from turning 16. I got my driver’s license on my sixteenth birthday………………………………………..Full Article: Source


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VRS - who has written 36748 posts on Opalesque Commodities Briefing.


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