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Commodities Briefing - Categorized | Oil, Trading more

U.S. oil supply looks vulnerable 40 years after embargo

Posted on 21 October 2013

In October 1973, the Organization of Petroleum-Exporting Countries (OPEC) instituted an oil embargo against the nations, including the United States, that supported Israel in the 1973 Arab-Israeli War. The embargo was lifted six months later, but not before it changed the way we drive.
Could oil shocks, such as those in 1973, happen again? How resilient is the U.S. now? While its energy picture has changed dramatically, it still imports 35% of the petroleum it consumes………………………………………..Full Article: Source


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