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What have we learned in the 40 years since the OPEC oil embargo?

Posted on 06 November 2013

Forty years ago, Egypt crossed the Suez Canal to begin a war that killed some 27,000 people and left the nation of Israel fighting for its life. When it was over, after much U.S. support, Israel had won. But the effects of the war are still being felt in America and elsewhere.
The key effect was the first so-called OPEC oil embargo, an act of vengeance aimed at the U.S. and its allies for supporting Israel. Its short-term results were the indignity of gas-station lines, improvised alternate-day rationing and even the banning of Christmas lights (in Oregon)………………………………………..Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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