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Commodities Briefing - Categorized | Market Pulse, Oil more

The OPEC oil embargo: The story four decades later

Posted on 11 November 2013

Business-led innovation and market-based solutions can drive a shift to more efficient renewable energy systems. Forty years ago, the US and much of the Europe learned difficult lessons about their dangerous addiction to fossil fuels.
Following Israel’s victory in the Yom Kippur War, the Arab members of the Organization of the Petroleum Exporting Countries (OPEC) announced an oil embargo on Israel’s supporters. Developed countries, faced with the sudden cutoff of a key energy source and a major spike in world oil prices, felt powerless………………………………………..Full Article: Source


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VRS - who has written 37241 posts on Opalesque Commodities Briefing.


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