OPEC

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OPEC

• The Oil Crisis of the 1970s

Dhurata Osmani Carlos Capellan
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OPEC
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The Oil Superpowers

• Once the oil superpowers were united, they were
  able to regulate not only the rate of production
  but also the price of oil
  
• This ability that the OPEC superpowers had gave
  them the powerful weapon they needed to go
  against Israel, the US, and their allies

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Israel

• Israel was not recognized by the Arab nations
  because of the ongoing conflict with the Jews in
  Israel
  
• In 1948,when the UN recognized Israel as a state,
  the ongoing wars would begin between the Arab
  nations and the Jews who were survivors of the
  Holocaust

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WAR

• The 6-day War of 1967,was one of the brutal of
  the wars in which the 5 surrounding Arab nations
  attacked Israel
  
• During the heinous days of fighting, Israel
  captured Egypts Sinai Peninsula, Syrias Golan
  Heights, Jordan's West Bank, and the Jordanian
  half of the city of Jerusalem
• Israel would surrender these territories, if and
  only if, the Arab oil superpowers would recognize
  Israel as a state, in which the Arabs refuse
  until this day, bringing death to many innocent
  citizens, terrorist attacks, and border raids

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Envy, Hatred, Revenge
NEVER ENDING

• In October of the year 1973, the resentment and
  aggression between the two sides erupted into
  another full-blown total war
  
• In hopes of catching the Israelis off guard, the
  Arab superpowers attacked Israel on Yum Kippur,
  one of the holiest days for the Jews
  
• However, military strength from the US and
  training, the Israelis were able to defeat the
  Arabs yet again

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Destroying Others Economy

• Realizing they could not beat the Israelis and
  their allies with blood and iron, the Arabs
  decided to attack the US and Israel economically
  by cutting off their supply of oil
• This strategy finally worked in the favor of the
  Arabs since oil is essential to all countries
  economically, agriculturally and industrially.
  

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OIL EMBARGO

• The world economy was severely damaged by the
  Arab oil embargo
  
• The U.S. was appalled at how much the embargo
  effected the country and its economy
  
• Immediately, the US had to take steps to preserve
  oil use and cutting the supply using alternate
  fuels since the supply of petroleum had become
  limited

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Promoting Peace

• Fueled by the oil embargo, the US was at a high
  at trying to enforce peace talks between the
  Arabs and Israelites
  
• The US even tried to be more fair with its
  relations since many Arabs claimed that the US
  was bias towards the Israelites
  
• This policy still continues today and the effects
  of the events of the Oil Crisis of the 1970s can
  be seen today as the price of oil is constantly
  increasing and Israel continues to be in the
  headlines

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Thank You !Come Again !