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href="#The_"oil_weapon""> <div class="vector-toc-text"> 1.5 The "oil weapon" </div> </a> <ul id="toc-The_"oil_weapon"-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Effectiveness_of_embargo" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Effectiveness_of_embargo"> <div class="vector-toc-text"> 2 Effectiveness of embargo </div> </a> <ul id="toc-Effectiveness_of_embargo-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Chronology" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Chronology"> <div class="vector-toc-text"> 3 Chronology </div> </a> <ul id="toc-Chronology-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Effects" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Effects"> <div class="vector-toc-text"> 4 Effects </div> </a> <button aria-controls="toc-Effects-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle Effects subsection </button> <ul id="toc-Effects-sublist" class="vector-toc-list"> <li id="toc-Impact_on_oil_exporting_nations" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_on_oil_exporting_nations"> <div class="vector-toc-text"> 4.1 Impact on oil exporting nations </div> </a> <ul id="toc-Impact_on_oil_exporting_nations-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Oil_weapon" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Oil_weapon"> <div class="vector-toc-text"> 4.2 Oil weapon </div> </a> <ul id="toc-Oil_weapon-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Impact_on_United_States" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_on_United_States"> <div class="vector-toc-text"> 4.3 Impact on United States </div> </a> <ul id="toc-Impact_on_United_States-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Impact_of_the_Soviet_Union" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_of_the_Soviet_Union"> <div class="vector-toc-text"> 4.4 Impact of the Soviet Union </div> </a> <ul id="toc-Impact_of_the_Soviet_Union-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Impact_on_Western_Europe" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_on_Western_Europe"> <div class="vector-toc-text"> 4.5 Impact on Western Europe </div> </a> <ul id="toc-Impact_on_Western_Europe-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Impact_on_United_Kingdom" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_on_United_Kingdom"> <div class="vector-toc-text"> 4.6 Impact on United Kingdom </div> </a> <ul id="toc-Impact_on_United_Kingdom-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Impact_on_Japan" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_on_Japan"> <div class="vector-toc-text"> 4.7 Impact on Japan </div> </a> <ul id="toc-Impact_on_Japan-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Impact_on_India" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_on_India"> <div class="vector-toc-text"> 4.8 Impact on India </div> </a> <ul id="toc-Impact_on_India-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Impact_on_South_Vietnam" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_on_South_Vietnam"> <div class="vector-toc-text"> 4.9 Impact on South Vietnam </div> </a> <ul id="toc-Impact_on_South_Vietnam-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Impact_on_southern_Africa" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_on_southern_Africa"> <div class="vector-toc-text"> 4.10 Impact on southern Africa </div> </a> <ul id="toc-Impact_on_southern_Africa-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Price_controls_and_rationing" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Price_controls_and_rationing"> <div class="vector-toc-text"> 4.11 Price controls and rationing </div> </a> <ul id="toc-Price_controls_and_rationing-sublist" class="vector-toc-list"> <li id="toc-United_States" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#United_States"> <div class="vector-toc-text"> 4.11.1 United States </div> </a> <ul id="toc-United_States-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Conservation_and_reduction_in_demand" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Conservation_and_reduction_in_demand"> <div class="vector-toc-text"> 4.12 Conservation and reduction in demand </div> </a> <ul id="toc-Conservation_and_reduction_in_demand-sublist" class="vector-toc-list"> <li id="toc-United_States_2" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#United_States_2"> <div class="vector-toc-text"> 4.12.1 United States </div> </a> <ul id="toc-United_States_2-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Alternative_energy_sources" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Alternative_energy_sources"> <div class="vector-toc-text"> 4.13 Alternative energy sources </div> </a> <ul id="toc-Alternative_energy_sources-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Macroeconomy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Macroeconomy"> <div class="vector-toc-text"> 4.14 Macroeconomy </div> </a> <ul id="toc-Macroeconomy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-International_relations" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#International_relations"> <div class="vector-toc-text"> 4.15 International relations </div> </a> <ul id="toc-International_relations-sublist" class="vector-toc-list"> <li id="toc-United_States_3" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#United_States_3"> <div class="vector-toc-text"> 4.15.1 United States </div> </a> <ul id="toc-United_States_3-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-NATO" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#NATO"> <div class="vector-toc-text"> 4.15.2 NATO </div> </a> <ul id="toc-NATO-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Japan" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Japan"> <div class="vector-toc-text"> 4.15.3 Japan </div> </a> <ul id="toc-Japan-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Nonaligned_nations" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Nonaligned_nations"> <div class="vector-toc-text"> 4.15.4 Nonaligned nations </div> </a> <ul id="toc-Nonaligned_nations-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Arab_states" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Arab_states"> <div class="vector-toc-text"> 4.15.5 Arab states </div> </a> <ul id="toc-Arab_states-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Automobile_industry" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Automobile_industry"> <div class="vector-toc-text"> 4.16 Automobile industry </div> </a> <ul id="toc-Automobile_industry-sublist" class="vector-toc-list"> <li id="toc-Western_Europe" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Western_Europe"> <div class="vector-toc-text"> 4.16.1 Western Europe </div> </a> <ul id="toc-Western_Europe-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-United_States_4" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#United_States_4"> <div class="vector-toc-text"> 4.16.2 United States </div> </a> <ul id="toc-United_States_4-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> </ul> </li> <li id="toc-Consequences" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Consequences"> <div class="vector-toc-text"> 5 Consequences </div> </a> <button aria-controls="toc-Consequences-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle Consequences subsection </button> <ul id="toc-Consequences-sublist" class="vector-toc-list"> <li id="toc-Decline_of_OPEC" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Decline_of_OPEC"> <div class="vector-toc-text"> 5.1 Decline of OPEC </div> </a> <ul id="toc-Decline_of_OPEC-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Oil_sources_diversification" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Oil_sources_diversification"> <div class="vector-toc-text"> 5.2 Oil sources diversification </div> </a> <ul id="toc-Oil_sources_diversification-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Economic_impact" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Economic_impact"> <div class="vector-toc-text"> 5.3 Economic impact </div> </a> <ul id="toc-Economic_impact-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Graphs_and_charts" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Graphs_and_charts"> <div class="vector-toc-text"> 6 Graphs and charts </div> </a> <ul id="toc-Graphs_and_charts-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> 7 See also </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> 8 References </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Bibliography" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Bibliography"> <div class="vector-toc-text"> 9 Bibliography </div> </a> <button aria-controls="toc-Bibliography-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle Bibliography subsection </button> <ul id="toc-Bibliography-sublist" class="vector-toc-list"> <li id="toc-Primary_sources" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Primary_sources"> <div class="vector-toc-text"> 9.1 Primary sources </div> </a> <ul id="toc-Primary_sources-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> 10 External links </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" > Toggle the table of contents </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading">1973 oil crisis</h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 56 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-56" aria-hidden="true" > 56 languages </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%AD%D8%B8%D8%B1_%D8%A7%D9%84%D9%86%D9%81%D8%B7_1973" title="حظر النفط 1973 – Arabic" lang="ar" hreflang="ar" data-title="حظر النفط 1973" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target">العربية</a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Crisis_del_petroleu_de_1973" title="Crisis del petroleu de 1973 – Asturian" lang="ast" hreflang="ast" data-title="Crisis del petroleu de 1973" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target">Asturianu</a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/1973-c%C3%BC_il_neft_b%C3%B6hran%C4%B1" title="1973-cü il neft böhranı – Azerbaijani" lang="az" hreflang="az" data-title="1973-cü il neft böhranı" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target">Azərbaycanca</a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A7%A7%E0%A7%AF%E0%A7%AD%E0%A7%A9-%E0%A6%8F%E0%A6%B0_%E0%A6%A4%E0%A7%87%E0%A6%B2_%E0%A6%B8%E0%A6%82%E0%A6%95%E0%A6%9F" title="১৯৭৩-এর তেল সংকট – Bangla" lang="bn" hreflang="bn" data-title="১৯৭৩-এর তেল সংকট" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target">বাংলা</a></li><li class="interlanguage-link interwiki-zh-min-nan mw-list-item"><a href="https://zh-min-nan.wikipedia.org/wiki/1973_n%C3%AE_chio%CC%8Dh-i%C3%BB_g%C3%BBi-ki" title="1973 nî chio̍h-iû gûi-ki – Minnan" lang="nan" hreflang="nan" data-title="1973 nî chio̍h-iû gûi-ki" data-language-autonym="閩南語 / Bân-lâm-gú" data-language-local-name="Minnan" class="interlanguage-link-target">閩南語 / Bân-lâm-gú</a></li><li class="interlanguage-link interwiki-ba mw-list-item"><a href="https://ba.wikipedia.org/wiki/1973_%D0%B9%D1%8B%D0%BB%D2%93%D1%8B_%D0%BD%D0%B5%D1%84%D1%82%D1%8C_%D0%BA%D1%80%D0%B8%D0%B7%D0%B8%D1%81%D1%8B" title="1973 йылғы нефть кризисы – Bashkir" lang="ba" hreflang="ba" data-title="1973 йылғы нефть кризисы" data-language-autonym="Башҡортса" data-language-local-name="Bashkir" class="interlanguage-link-target">Башҡортса</a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%9D%D0%B0%D1%84%D1%82%D0%B0%D0%B2%D1%8B_%D0%BA%D1%80%D1%8B%D0%B7%D1%96%D1%81_1973_%D0%B3%D0%BE%D0%B4%D0%B0" title="Нафтавы крызіс 1973 года – Belarusian" lang="be" hreflang="be" data-title="Нафтавы крызіс 1973 года" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target">Беларуская</a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%9F%D0%B5%D1%82%D1%80%D0%BE%D0%BB%D0%BD%D0%B0_%D0%BA%D1%80%D0%B8%D0%B7%D0%B0_%D0%BE%D1%82_1973_%D0%B3%D0%BE%D0%B4%D0%B8%D0%BD%D0%B0" title="Петролна криза от 1973 година – Bulgarian" lang="bg" hreflang="bg" data-title="Петролна криза от 1973 година" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target">Български</a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Crisi_del_petroli_del_1973" title="Crisi del petroli del 1973 – Catalan" lang="ca" hreflang="ca" data-title="Crisi del petroli del 1973" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target">Català</a></li><li class="interlanguage-link interwiki-cy mw-list-item"><a href="https://cy.wikipedia.org/wiki/Argyfwng_olew_1973" title="Argyfwng olew 1973 – Welsh" lang="cy" hreflang="cy" data-title="Argyfwng olew 1973" data-language-autonym="Cymraeg" data-language-local-name="Welsh" class="interlanguage-link-target">Cymraeg</a></li><li class="interlanguage-link interwiki-ary mw-list-item"><a href="https://ary.wikipedia.org/wiki/%D8%A3%D8%B2%D9%85%D8%A9_%D9%84%D9%8A%D8%B5%D8%A7%D9%86%D8%B5_%D8%AF1973" title="أزمة ليصانص د1973 – Moroccan Arabic" lang="ary" hreflang="ary" data-title="أزمة ليصانص د1973" data-language-autonym="الدارجة" data-language-local-name="Moroccan Arabic" class="interlanguage-link-target">الدارجة</a></li><li class="interlanguage-link interwiki-de badge-Q70894304 mw-list-item" title=""><a href="https://de.wikipedia.org/wiki/%C3%96lkrise_1973" title="Ölkrise 1973 – German" lang="de" hreflang="de" data-title="Ölkrise 1973" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target">Deutsch</a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/1973._aasta_naftakriis" title="1973. aasta naftakriis – Estonian" lang="et" hreflang="et" data-title="1973. aasta naftakriis" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target">Eesti</a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%A0%CE%B5%CF%84%CF%81%CE%B5%CE%BB%CE%B1%CF%8A%CE%BA%CE%AE_%CE%BA%CF%81%CE%AF%CF%83%CE%B7_%CF%84%CE%BF%CF%85_1973" title="Πετρελαϊκή κρίση του 1973 – Greek" lang="el" hreflang="el" data-title="Πετρελαϊκή κρίση του 1973" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target">Ελληνικά</a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Crisis_del_petr%C3%B3leo_de_1973" title="Crisis del petróleo de 1973 – Spanish" lang="es" hreflang="es" data-title="Crisis del petróleo de 1973" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target">Español</a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Naftokrizo_de_1973" title="Naftokrizo de 1973 – Esperanto" lang="eo" hreflang="eo" data-title="Naftokrizo de 1973" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target">Esperanto</a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/1973ko_petrolioaren_krisia" title="1973ko petrolioaren krisia – Basque" lang="eu" hreflang="eu" data-title="1973ko petrolioaren krisia" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target">Euskara</a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A8%D8%AD%D8%B1%D8%A7%D9%86_%D9%86%D9%81%D8%AA%DB%8C_%D8%B3%D8%A7%D9%84_%DB%B1%DB%B9%DB%B7%DB%B3" title="بحران نفتی سال ۱۹۷۳ – Persian" lang="fa" hreflang="fa" data-title="بحران نفتی سال ۱۹۷۳" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target">فارسی</a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Premier_choc_p%C3%A9trolier" title="Premier choc pétrolier – French" lang="fr" hreflang="fr" data-title="Premier choc pétrolier" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target">Français</a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Crise_do_petr%C3%B3leo_de_1973" title="Crise do petróleo de 1973 – Galician" lang="gl" hreflang="gl" data-title="Crise do petróleo de 1973" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target">Galego</a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/1973%EB%85%84_%EC%84%9D%EC%9C%A0_%ED%8C%8C%EB%8F%99" title="1973년 석유 파동 – Korean" lang="ko" hreflang="ko" data-title="1973년 석유 파동" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target">한국어</a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D5%86%D5%A1%D5%BE%D5%A9%D5%A1%D5%B5%D5%AB%D5%B6_%D5%B3%D5%A3%D5%B6%D5%A1%D5%AA%D5%A1%D5%B4_(1973)" title="Նավթային ճգնաժամ (1973) – Armenian" lang="hy" hreflang="hy" data-title="Նավթային ճգնաժամ (1973)" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target">Հայերեն</a></li><li class="interlanguage-link interwiki-io mw-list-item"><a href="https://io.wikipedia.org/wiki/Mondala_petrolo-krizo_di_1973" title="Mondala petrolo-krizo di 1973 – Ido" lang="io" hreflang="io" data-title="Mondala petrolo-krizo di 1973" data-language-autonym="Ido" data-language-local-name="Ido" class="interlanguage-link-target">Ido</a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Krisis_minyak_1973" title="Krisis minyak 1973 – Indonesian" lang="id" hreflang="id" data-title="Krisis minyak 1973" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target">Bahasa Indonesia</a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/Ol%C3%ADukreppan_1973" title="Olíukreppan 1973 – Icelandic" lang="is" hreflang="is" data-title="Olíukreppan 1973" data-language-autonym="Íslenska" data-language-local-name="Icelandic" class="interlanguage-link-target">Íslenska</a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Crisi_energetica_(1973)" title="Crisi energetica (1973) – Italian" lang="it" hreflang="it" data-title="Crisi energetica (1973)" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target">Italiano</a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%9E%D7%A9%D7%91%D7%A8_%D7%94%D7%90%D7%A0%D7%A8%D7%92%D7%99%D7%94_%D7%94%D7%A2%D7%95%D7%9C%D7%9E%D7%99" title="משבר האנרגיה העולמי – Hebrew" lang="he" hreflang="he" data-title="משבר האנרגיה העולמי" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target">עברית</a></li><li class="interlanguage-link interwiki-jv mw-list-item"><a href="https://jv.wikipedia.org/wiki/Krisis_lenga_1973" title="Krisis lenga 1973 – Javanese" lang="jv" hreflang="jv" data-title="Krisis lenga 1973" data-language-autonym="Jawa" data-language-local-name="Javanese" class="interlanguage-link-target">Jawa</a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/1973._gada_naftas_kr%C4%ABze" title="1973. gada naftas krīze – Latvian" lang="lv" hreflang="lv" data-title="1973. gada naftas krīze" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target">Latviešu</a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/1973_m._naftos_kriz%C4%97" title="1973 m. naftos krizė – Lithuanian" lang="lt" hreflang="lt" data-title="1973 m. naftos krizė" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target">Lietuvių</a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/1973-as_olajv%C3%A1ls%C3%A1g" title="1973-as olajválság – Hungarian" lang="hu" hreflang="hu" data-title="1973-as olajválság" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target">Magyar</a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Krisis_minyak_1973" title="Krisis minyak 1973 – Malay" lang="ms" hreflang="ms" data-title="Krisis minyak 1973" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target">Bahasa Melayu</a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Oliecrisis_van_1973" title="Oliecrisis van 1973 – Dutch" lang="nl" hreflang="nl" data-title="Oliecrisis van 1973" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target">Nederlands</a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A5%A7%E0%A5%AF%E0%A5%AD%E0%A5%A9_%E0%A4%A4%E0%A5%87%E0%A4%B2_%E0%A4%B8%E0%A4%99%E0%A5%8D%E0%A4%95%E0%A4%9F" title="१९७३ तेल सङ्कट – Nepali" lang="ne" hreflang="ne" data-title="१९७३ तेल सङ्कट" data-language-autonym="नेपाली" data-language-local-name="Nepali" class="interlanguage-link-target">नेपाली</a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Oljekrisen" title="Oljekrisen – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Oljekrisen" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target">Norsk bokmål</a></li><li class="interlanguage-link interwiki-nn mw-list-item"><a href="https://nn.wikipedia.org/wiki/Oljekrisa_i_1973" title="Oljekrisa i 1973 – Norwegian Nynorsk" lang="nn" hreflang="nn" data-title="Oljekrisa i 1973" data-language-autonym="Norsk nynorsk" data-language-local-name="Norwegian Nynorsk" class="interlanguage-link-target">Norsk nynorsk</a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Kryzys_naftowy" title="Kryzys naftowy – Polish" lang="pl" hreflang="pl" data-title="Kryzys naftowy" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target">Polski</a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Crise_petrol%C3%ADfera_de_1973" title="Crise petrolífera de 1973 – Portuguese" lang="pt" hreflang="pt" data-title="Crise petrolífera de 1973" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target">Português</a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Criza_petrolului_din_1973" title="Criza petrolului din 1973 – Romanian" lang="ro" hreflang="ro" data-title="Criza petrolului din 1973" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target">Română</a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9D%D0%B5%D1%84%D1%82%D1%8F%D0%BD%D0%BE%D0%B9_%D0%BA%D1%80%D0%B8%D0%B7%D0%B8%D1%81_1973_%D0%B3%D0%BE%D0%B4%D0%B0" title="Нефтяной кризис 1973 года – Russian" lang="ru" hreflang="ru" data-title="Нефтяной кризис 1973 года" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target">Русский</a></li><li class="interlanguage-link interwiki-sah mw-list-item"><a href="https://sah.wikipedia.org/wiki/1973_%D0%BD%D0%B8%D1%8D%D0%BF_%D0%BA%D0%B8%D1%80%D0%B8%D0%B8%D0%B7%D0%B8%D2%BB%D1%8D" title="1973 ниэп кириизиһэ – Yakut" lang="sah" hreflang="sah" data-title="1973 ниэп кириизиһэ" data-language-autonym="Саха тыла" data-language-local-name="Yakut" class="interlanguage-link-target">Саха тыла</a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/1973_oil_crisis" title="1973 oil crisis – Simple English" lang="en-simple" hreflang="en-simple" data-title="1973 oil crisis" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target">Simple English</a></li><li class="interlanguage-link interwiki-ckb mw-list-item"><a href="https://ckb.wikipedia.org/wiki/%D9%82%DB%95%DB%8C%D8%B1%D8%A7%D9%86%DB%8C_%D9%86%DB%95%D9%88%D8%AA%DB%8C_%D9%A1%D9%A9%D9%A7%D9%A3" title="قەیرانی نەوتی ١٩٧٣ – Central Kurdish" lang="ckb" hreflang="ckb" data-title="قەیرانی نەوتی ١٩٧٣" data-language-autonym="کوردی" data-language-local-name="Central Kurdish" class="interlanguage-link-target">کوردی</a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/Naftni_%C5%A1ok_1973." title="Naftni šok 1973. – Serbian" lang="sr" hreflang="sr" data-title="Naftni šok 1973." data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target">Српски / srpski</a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/Naftni_%C5%A1ok" title="Naftni šok – Serbo-Croatian" lang="sh" hreflang="sh" data-title="Naftni šok" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target">Srpskohrvatski / српскохрватски</a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Vuoden_1973_%C3%B6ljykriisi" title="Vuoden 1973 öljykriisi – Finnish" lang="fi" hreflang="fi" data-title="Vuoden 1973 öljykriisi" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target">Suomi</a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Oljekrisen_1973" title="Oljekrisen 1973 – Swedish" lang="sv" hreflang="sv" data-title="Oljekrisen 1973" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target">Svenska</a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/1973_%E0%AE%8E%E0%AE%A3%E0%AF%8D%E0%AE%A3%E0%AF%86%E0%AE%AF%E0%AF%8D_%E0%AE%A8%E0%AF%86%E0%AE%B0%E0%AF%81%E0%AE%95%E0%AF%8D%E0%AE%95%E0%AE%9F%E0%AE%BF" title="1973 எண்ணெய் நெருக்கடி – Tamil" lang="ta" hreflang="ta" data-title="1973 எண்ணெய் நெருக்கடி" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target">தமிழ்</a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B8%A7%E0%B8%B4%E0%B8%81%E0%B8%A4%E0%B8%95%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%93%E0%B9%8C%E0%B8%99%E0%B9%89%E0%B8%B3%E0%B8%A1%E0%B8%B1%E0%B8%99_%E0%B8%84.%E0%B8%A8._1973" title="วิกฤตการณ์น้ำมัน ค.ศ. 1973 – Thai" lang="th" hreflang="th" data-title="วิกฤตการณ์น้ำมัน ค.ศ. 1973" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target">ไทย</a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/1973_Petrol_Krizi" title="1973 Petrol Krizi – Turkish" lang="tr" hreflang="tr" data-title="1973 Petrol Krizi" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target">Türkçe</a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%9D%D0%B0%D1%84%D1%82%D0%BE%D0%B2%D0%B0_%D0%BA%D1%80%D0%B8%D0%B7%D0%B0_1973_%D1%80%D0%BE%D0%BA%D1%83" title="Нафтова криза 1973 року – Ukrainian" lang="uk" hreflang="uk" data-title="Нафтова криза 1973 року" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target">Українська</a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/Kh%E1%BB%A7ng_ho%E1%BA%A3ng_d%E1%BA%A7u_m%E1%BB%8F_1973" title="Khủng hoảng dầu mỏ 1973 – Vietnamese" lang="vi" hreflang="vi" data-title="Khủng hoảng dầu mỏ 1973" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target">Tiếng Việt</a></li><li class="interlanguage-link interwiki-fiu-vro mw-list-item"><a href="https://fiu-vro.wikipedia.org/wiki/1973._a._nahvtakriis" title="1973. a. nahvtakriis – Võro" lang="vro" hreflang="vro" data-title="1973. a. nahvtakriis" data-language-autonym="Võro" data-language-local-name="Võro" class="interlanguage-link-target">Võro</a></li><li class="interlanguage-link interwiki-war mw-list-item"><a href="https://war.wikipedia.org/wiki/Krisis_han_lana_han_1973" title="Krisis han lana han 1973 – Waray" lang="war" hreflang="war" data-title="Krisis han lana han 1973" data-language-autonym="Winaray" data-language-local-name="Waray" class="interlanguage-link-target">Winaray</a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/1973%E5%B9%B4%E7%9F%B3%E6%B2%B9%E5%8D%B1%E6%A9%9F" title="1973年石油危機 – Cantonese" lang="yue" hreflang="yue" data-title="1973年石油危機" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target">粵語</a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E7%AC%AC%E4%B8%80%E6%AC%A1%E7%9F%B3%E6%B2%B9%E5%8D%B1%E6%9C%BA" title="第一次石油危机 – Chinese" lang="zh" hreflang="zh" data-title="第一次石油危机" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target">中文</a></li> </ul> <div class="after-portlet after-portlet-lang"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q316817#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-associated-pages" > <div class="vector-menu-content"> <ul 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</div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">OAPEC petroleum embargo</div> <style data-mw-deduplicate="TemplateStyles:r1237032888/mw-parser-output/.tmulti">.mw-parser-output .tmulti .multiimageinner{display:flex;flex-direction:column}.mw-parser-output .tmulti .trow{display:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box}.mw-parser-output .tmulti .tsingle{margin:1px;float:left}.mw-parser-output .tmulti .theader{clear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%}.mw-parser-output .tmulti .thumbcaption{background-color:transparent}.mw-parser-output .tmulti .text-align-left{text-align:left}.mw-parser-output .tmulti .text-align-right{text-align:right}.mw-parser-output .tmulti .text-align-center{text-align:center}@media all and (max-width:720px){.mw-parser-output .tmulti .thumbinner{width:100%!important;box-sizing:border-box;max-width:none!important;align-items:center}.mw-parser-output .tmulti .trow{justify-content:center}.mw-parser-output .tmulti .tsingle{float:none!important;max-width:100%!important;box-sizing:border-box;text-align:center}.mw-parser-output .tmulti .tsingle .thumbcaption{text-align:left}.mw-parser-output .tmulti .trow>.thumbcaption{text-align:center}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .tmulti .multiimageinner img{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .tmulti .multiimageinner img{background-color:white}}</style><div class="thumb tmulti tright"><div class="thumbinner multiimageinner" style="width:508px;max-width:508px"><div class="trow"><div class="tsingle" style="width:252px;max-width:252px"><div class="thumbimage"><a href="/wiki/File:Crude-oil-price-history-chart-2022.webp" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Crude-oil-price-history-chart-2022.webp/250px-Crude-oil-price-history-chart-2022.webp.png" decoding="async" width="250" height="182" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Crude-oil-price-history-chart-2022.webp/375px-Crude-oil-price-history-chart-2022.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Crude-oil-price-history-chart-2022.webp/500px-Crude-oil-price-history-chart-2022.webp.png 2x" data-file-width="871" data-file-height="635" /></a></div><div class="thumbcaption">Price of oil adjusted for inflation</div></div><div class="tsingle" style="width:252px;max-width:252px"><div class="thumbimage"><a href="/wiki/File:Price_of_oil_nominal_price.webp" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/37/Price_of_oil_nominal_price.webp/250px-Price_of_oil_nominal_price.webp.png" decoding="async" width="250" height="178" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/37/Price_of_oil_nominal_price.webp/375px-Price_of_oil_nominal_price.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/37/Price_of_oil_nominal_price.webp/500px-Price_of_oil_nominal_price.webp.png 2x" data-file-width="871" data-file-height="619" /></a></div><div class="thumbcaption">Price of oil (nominal)</div></div></div><div class="trow" style="display:flex"><div class="thumbcaption"><a href="/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a> oil price history 1946–2022<a href="#cite_note-1">[1]</a></div></div></div></div> In October 1973, the <a href="/wiki/Organization_of_Arab_Petroleum_Exporting_Countries" title="Organization of Arab Petroleum Exporting Countries">Organization of Arab Petroleum Exporting Countries</a> (OAPEC) announced that it was implementing a total <a href="/wiki/Oil_embargo" title="Oil embargo">oil embargo</a> against countries that had supported <a href="/wiki/Israel" title="Israel">Israel</a> at any point during the 1973 <a href="/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a>, which began after <a href="/wiki/Egypt" title="Egypt">Egypt</a> and <a href="/wiki/Syria" title="Syria">Syria</a> launched a large-scale surprise attack in an ultimately unsuccessful attempt to recover the territories that they had lost to Israel during the 1967 <a href="/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a>. In an effort that was led by <a href="/wiki/Faisal_of_Saudi_Arabia" title="Faisal of Saudi Arabia">Faisal of Saudi Arabia</a>,<a href="#cite_note-2">[2]</a> the initial countries that OAPEC targeted were <a href="/wiki/Canada" title="Canada">Canada</a>, <a href="/wiki/Japan" title="Japan">Japan</a>, the <a href="/wiki/Netherlands" title="Netherlands">Netherlands</a>, the <a href="/wiki/United_Kingdom" title="United Kingdom">United Kingdom</a>, and the <a href="/wiki/United_States" title="United States">United States</a>. This list was later expanded to include <a href="/wiki/Estado_Novo_(Portugal)" title="Estado Novo (Portugal)">Portugal</a>, <a href="/wiki/Rhodesia" title="Rhodesia">Rhodesia</a>, and <a href="/wiki/South_Africa" title="South Africa">South Africa</a>. In March 1974, OAPEC lifted the embargo,<a href="#cite_note-USstate2ndCrisis-3">[3]</a> but the <a href="/wiki/Price_of_oil" title="Price of oil">price of oil</a> had risen by nearly 300%: from US$3 per <a href="/wiki/Barrel_(unit)#Oil_barrel" title="Barrel (unit)">barrel</a> ($19/<a href="/wiki/Cubic_metre" title="Cubic metre">m3</a>) to nearly US$12 per barrel ($75/m3) globally. Prices in the United States were significantly higher than the global average. After it was implemented, the embargo caused an oil crisis, or "shock", with many short- and long-term effects on the global economy as well as on global politics.<a href="#cite_note-cbc-4">[4]</a> The 1973 embargo later came to be referred to as the "first oil shock" vis-à-vis the "second oil shock" that was the <a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a>, brought upon by the <a href="/wiki/Iranian_Revolution" class="mw-redirect" title="Iranian Revolution">Iranian Revolution</a>. <style data-mw-deduplicate="TemplateStyles:r886046785">.mw-parser-output .toclimit-2 .toclevel-1 ul,.mw-parser-output .toclimit-3 .toclevel-2 ul,.mw-parser-output .toclimit-4 .toclevel-3 ul,.mw-parser-output .toclimit-5 .toclevel-4 ul,.mw-parser-output .toclimit-6 .toclevel-5 ul,.mw-parser-output .toclimit-7 .toclevel-6 ul{display:none}</style><div class="toclimit-3"><meta property="mw:PageProp/toc" /></div> <div class="mw-heading mw-heading2"><h2 id="Background">Background</h2></div> <div class="mw-heading mw-heading3"><h3 id="Arab-Israeli_conflict">Arab-Israeli conflict</h3></div> Ever since Israel <a href="/wiki/Israeli_Declaration_of_Independence" title="Israeli Declaration of Independence">declared independence in 1948</a> there was <a href="/wiki/Arab%E2%80%93Israeli_conflict" title="Arab–Israeli conflict">conflict between Arabs and Israelis</a> in the <a href="/wiki/Middle_East" title="Middle East">Middle East</a>, including <a href="/wiki/List_of_wars_involving_Israel" title="List of wars involving Israel">several wars</a>. The <a href="/wiki/Suez_Crisis" title="Suez Crisis">Suez Crisis</a>, also known as the Second Arab–Israeli war, was sparked by Israel's southern port of <a href="/wiki/Port_of_Eilat" title="Port of Eilat">Eilat</a> <a href="/wiki/Israeli_passage_through_the_Suez_Canal_and_Straits_of_Tiran" title="Israeli passage through the Suez Canal and Straits of Tiran">being blocked by Egypt</a>, which also <a href="/wiki/Nationalization" title="Nationalization">nationalized</a> the <a href="/wiki/Suez_Canal" title="Suez Canal">Suez Canal</a> belonging to French and British investors. As a result of the war, <a href="/wiki/Closure_of_the_Suez_Canal_(1956%E2%80%931957)" title="Closure of the Suez Canal (1956–1957)">the Suez Canal was closed for several months between 1956 and 1957</a>.<a href="#cite_note-5">[5]</a> The <a href="/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a> of 1967 included an Israeli invasion of the Egyptian <a href="/wiki/Sinai_Peninsula" title="Sinai Peninsula">Sinai Peninsula</a>, which resulted in Egypt <a href="/wiki/Closure_of_the_Suez_Canal_(1967-1975)" class="mw-redirect" title="Closure of the Suez Canal (1967-1975)">closing the Suez Canal for eight years</a>.<a href="#cite_note-6">[6]</a> Following the <a href="/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a>, the canal was <a href="/wiki/1974_Suez_Canal_Clearance_Operation" title="1974 Suez Canal Clearance Operation">cleared in 1974</a> and opened again in 1975.<a href="#cite_note-7">[7]</a><a href="#cite_note-8">[8]</a> <a href="/wiki/OAPEC" class="mw-redirect" title="OAPEC">OAPEC</a> countries cut production of oil and placed an <a href="/wiki/Embargo" class="mw-redirect" title="Embargo">embargo</a> on oil exports to the United States after <a href="/wiki/Richard_Nixon" title="Richard Nixon">Richard Nixon</a> requested $2.2 billion to support Israel's war effort. Nevertheless, the embargo lasted only until January 1974, though the price of oil remained high afterwards.<a href="#cite_note-9">[9]</a> <div class="mw-heading mw-heading3"><h3 id="American_production_decline">American production decline</h3></div> By 1969, American domestic output of oil was peaking and could not keep pace with increasing demand from vehicles. The U.S. was importing 350 million barrels (56 million cubic metres) per year by the late 1950s, mostly from <a href="/wiki/History_of_the_Venezuelan_oil_industry" title="History of the Venezuelan oil industry">Venezuela</a> and <a href="/wiki/History_of_the_petroleum_industry_in_Canada" title="History of the petroleum industry in Canada">Canada</a>. Because of transportation costs and tariffs, it never purchased much oil from the Middle East. In 1973, US production had declined to 16% of global output.<a href="#cite_note-painter-10">[10]</a><a href="#cite_note-little-11">[11]</a> Eisenhower imposed <a href="/wiki/Import_quota" title="Import quota">quotas</a> on foreign oil that would stay in place between 1959 and 1973.<a href="#cite_note-little-11">[11]</a><a href="#cite_note-12">[12]</a> Critics called it the <a href="/wiki/Mandatory_Oil_Import_Quota_Program" title="Mandatory Oil Import Quota Program">"drain America first"</a> policy. Some scholars believe the policy contributed to the <a href="/wiki/Peak_oil" title="Peak oil">decline of domestic US oil production</a> in the early 1970s.<a href="#cite_note-price-13">[13]</a><a href="#cite_note-spr-14">[14]</a> The cheapness of oil compared with coal led to the decline of the coal industry. In 1951, 51% of America's energy came from coal, and by 1973, only 19% of America's industry was coal-based.<a href="#cite_note-FOOTNOTELacey1981415-15">[15]</a> When <a href="/wiki/Richard_Nixon" title="Richard Nixon">Richard Nixon</a> became president in 1969, he assigned <a href="/wiki/George_Shultz" title="George Shultz">George Shultz</a> to head a committee to review the Eisenhower-era quota program. Shultz's committee recommended that the quotas be abolished and replaced with tariffs but Nixon decided to keep the quotas due to vigorous political opposition.<a href="#cite_note-yergin9-16">[16]</a> Nixon imposed a <a href="/wiki/Price_ceiling" title="Price ceiling">price ceiling</a> on oil in 1971 as demand for oil was increasing and production was declining, which increased dependence on foreign oil imports as consumption was bolstered by low prices.<a href="#cite_note-spr-14">[14]</a> In 1973, Nixon announced the end of the quota system. Between 1970 and 1973 US imports of crude oil had nearly doubled, reaching 6.2 million barrels per day in 1973. Until 1973, an abundance of oil supply had kept the market price of oil lower than the posted price.<a href="#cite_note-yergin9-16">[16]</a> In 1970, American oil production peaked and the United States began to import more and more oil as oil imports rose by 52% between 1969 and 1972.<a href="#cite_note-FOOTNOTELacey1981415-15">[15]</a> By 1972, 83% of the American oil imports came from the Middle East.<a href="#cite_note-FOOTNOTELacey1981415-15">[15]</a> Throughout the 1960s, the price for a barrel of oil remained at $1.80, meaning that with the effects of inflation considered the price of oil in real terms got progressively lower and lower throughout the decade with Americans paying less for oil in 1969 than they had in 1959.<a href="#cite_note-FOOTNOTELacey1981414–415-17">[17]</a> Even after a price for a barrel of oil rose to $2.00 in 1971, adjusted for inflation, people in the Western nations were paying less for oil in 1971 than they had in 1958.<a href="#cite_note-FOOTNOTELacey1981414–415-17">[17]</a> The extremely low price of oil served as the basis for the "<a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">long summer</a>" of prosperity and mass affluence that began in 1945.<a href="#cite_note-FOOTNOTELacey1981414–415-17">[17]</a> <div class="mw-heading mw-heading3"><h3 id="OPEC">OPEC</h3></div> The <a href="/wiki/OPEC" title="OPEC">Organization of Petroleum Exporting Countries</a> (OPEC), was founded by five oil producing countries at a <a href="/wiki/Baghdad" title="Baghdad">Baghdad</a> conference on September 14, 1960. The five founding members of OPEC were <a href="/wiki/Venezuela" title="Venezuela">Venezuela</a>, <a href="/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>, <a href="/wiki/Iran" title="Iran">Iran</a> and <a href="/wiki/Kuwait" title="Kuwait">Kuwait</a>.<a href="#cite_note-rose-18">[18]</a> OPEC was organized after the oil companies slashed the <a href="/wiki/Posted_price" class="mw-redirect" title="Posted price">posted price</a> of oil, but the posted price of oil remained consistently higher than the market price of oil between 1961 and 1972.<a href="#cite_note-kuiken-19">[19]</a> In 1963, the <a href="/wiki/Seven_Sisters_(oil_companies)" class="mw-redirect" title="Seven Sisters (oil companies)">Seven Sisters</a> controlled 86% of the oil produced by OPEC countries, but by 1970 the rise of "independent oil companies" had decreased their share to 77%. The entry of three new oil producers—<a href="/wiki/Algeria" title="Algeria">Algeria</a>, <a href="/wiki/Libya" title="Libya">Libya</a> and <a href="/wiki/Nigeria" title="Nigeria">Nigeria</a>—meant that by 1970, 81 oil companies were doing business in the Middle East.<a href="#cite_note-20">[20]</a><a href="#cite_note-21">[21]</a> In the early 1960s <a href="/wiki/Libya" title="Libya">Libya</a>, <a href="/wiki/Indonesia" title="Indonesia">Indonesia</a> and <a href="/wiki/Qatar" title="Qatar">Qatar</a> joined OPEC. OPEC was generally regarded as ineffective until political turbulence in Libya and Iraq strengthened their position in 1970. Additionally, increasing <a href="/wiki/Soviet_Union" title="Soviet Union">Soviet</a> influence provided oil producing countries with alternative means of transporting oil to markets.<a href="#cite_note-peelo-22">[22]</a> Under the <a href="/wiki/1970%E2%80%931979_world_oil_market_chronology#1971" title="1970–1979 world oil market chronology">Tehran Price Agreement of 1971</a>, signed on February 14, the posted price of oil was increased and, due to a decline in the value of the US dollar relative to gold, certain anti-inflationary measures were enacted.<a href="#cite_note-peelo-22">[22]</a><a href="#cite_note-independent_Hammes_2005-23">[23]</a><a href="#cite_note-24">[24]</a> Because of a severe drain on U.S. gold reserves, leading to higher inflation and lack of confidence in the strength of the dollar, President Nixon issued <a href="/wiki/Executive_Order" class="mw-redirect" title="Executive Order">Executive Order</a> 11615 on August 15, 1971, closing the "<a href="/wiki/Gold_window" class="mw-redirect" title="Gold window">gold window</a>". This action made the dollar inconvertible to gold directly, except on the open market, and was soon dubbed the <a href="/wiki/Nixon_Shock" class="mw-redirect" title="Nixon Shock">Nixon Shock</a>, leading eventually to the collapse of the <a href="/wiki/Bretton_Woods_system" title="Bretton Woods system">Bretton Woods system</a> in 1976. Because oil was priced in dollars, oil producers' real income decreased when the dollar started to float free of the old link to gold. In September 1971, OPEC issued a joint communiqué stating that from then on, they would price oil in terms of a fixed amount of gold.<a href="#cite_note-25">[25]</a> After 1971, OPEC was slow to readjust prices to reflect this depreciation. From 1947 to 1967, the dollar price of oil had risen by less than two percent per year. Until the oil shock, the price had also remained fairly stable versus other currencies and commodities. OPEC ministers had not developed institutional mechanisms to update prices in sync with changing market conditions, so their real incomes lagged. The substantial price increases of 1973–1974 largely returned their prices and corresponding incomes to former levels in terms of commodities such as gold.<a href="#cite_note-independent_Hammes_2005-23">[23]</a> <div class="mw-heading mw-heading3"><h3 id="Countdown_to_the_October_War">Countdown to the October War</h3></div> Arab oil producing countries had attempted to use oil as leverage to influence political events on two prior occasions—the first was the <a href="/wiki/Suez_Crisis" title="Suez Crisis">Suez Crisis</a> in 1956 when the United Kingdom, France and Israel invaded Egypt. During the conflict the Syrians sabotaged both the <a href="/wiki/Trans-Arabian_Pipeline" title="Trans-Arabian Pipeline">Trans-Arabian Pipeline</a> and the <a href="/wiki/Kirkuk%E2%80%93Baniyas_pipeline" title="Kirkuk–Baniyas pipeline">Iraq–Baniyas pipeline</a>, which disrupted the supply of oil to Western Europe.<a href="#cite_note-ahrari05-26">[26]</a><a href="#cite_note-27">[27]</a> The second instance was when <a href="/wiki/Six-Day_War" title="Six-Day War">war broke out between Egypt and Israel</a> in 1967, but despite continued Egyptian and Syrian enmity against Israel, the embargo lasted only a few months.<a href="#cite_note-little-11">[11]</a> Most scholars agree that the 1967 embargo was ineffective.<a href="#cite_note-28">[28]</a> Although some members of the <a href="/wiki/Organization_of_Arab_Petroleum_Exporting_Countries" title="Organization of Arab Petroleum Exporting Countries">Organization of Arab Petroleum Exporting Countries</a> (OAPEC) supported the use of oil as a weapon to influence the political outcome of the <a href="/wiki/Arab%E2%80%93Israeli_conflict" title="Arab–Israeli conflict">Arab–Israeli conflict</a>, Saudi Arabia had traditionally been the strongest supporter of separating oil from politics. The Saudis were wary of the tactic due to the availability of oil from non-Arab oil producing countries, and in the decades leading up to the crisis, the region's conservative monarchies had grown dependent on Western support to ensure their continued survival as <a href="/wiki/Nasserism" title="Nasserism">Nasserism</a> gained traction. On the other hand, Algeria, Iraq and Libya had strongly supported the use of oil as a weapon in the conflict.<a href="#cite_note-ahrari05-26">[26]</a> Arab newspapers like the Egyptian <a href="/wiki/Al-Ahram" title="Al-Ahram">Al-Ahram</a>, Lebanese <a href="/wiki/An-Nahar" title="An-Nahar">An-Nahar</a> and Iraqi <a href="/wiki/Al-Thawra_(newspaper)" title="Al-Thawra (newspaper)">Al-Thawra</a> had historically been supportive of the use of oil as a weapon.<a href="#cite_note-29">[29]</a> In 1970, President Nasser of Egypt died and was succeeded by <a href="/wiki/Anwar_Sadat" title="Anwar Sadat">Anwar Sadat</a>, a man who believed in the diplomacy of surprise, in engaging in sudden moves to upset the diplomatic equilibrium.<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> Sadat liked to say that his favourite game was <a href="/wiki/Backgammon" title="Backgammon">backgammon</a>, a game where skill and persistence was rewarded, but was best won by sudden gambles, making an analogy between how he played backgammon and conducted his diplomacy.<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> Under Nasser, Egypt and Saudi Arabia had engaged what was known as the <a href="/wiki/Arab_Cold_War" title="Arab Cold War">Arab Cold War</a>, but Sadat got along very well with King <a href="/wiki/Faisal_of_Saudi_Arabia" title="Faisal of Saudi Arabia">Faisal of Saudi Arabia</a>, forming an alliance between the most populous Arab state and the wealthiest Arab state.<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> Unlike the secularist Nasser, Sadat was a pious Muslim and he had a strong personal rapport with King Faisal, who was an equally pious Muslim.<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> The man largely in charge of American foreign policy, the National Security Adviser, <a href="/wiki/Henry_Kissinger" title="Henry Kissinger">Henry Kissinger</a>, later admitted that he was so engrossed with the Paris peace talks to end the Vietnam war that he and others in Washington missed the significance of the Egyptian-Saudi alliance.<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> At the same time that Sadat moved closer to Saudi Arabia, he also wanted a rapprochement with the United States and to move Egypt away from its alliance with the Soviet Union.<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> In 1971, the US had information that the Arab states were willing to implement another embargo.<a href="#cite_note-31">[31]</a> In July 1972, Sadat expelled all 16,000 of the Soviet military personnel in Egypt in a signal that he wanted better relations with the United States.<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> Kissinger was taken completely by surprise by Sadat's move, saying: "Why has he done me this favor? Why didn't he demand all sorts of concessions first?"<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> Sadat expected as a reward that the United States would respond by pressuring Israel to return the Sinai to Egypt, but after his anti-Soviet move prompted no response from the United States, by November 1972 Sadat moved again closer to the Soviet Union, buying a massive amount of Soviet arms for a war he planned to launch against Israel in 1973.<a href="#cite_note-FOOTNOTELacey1981393-30">[30]</a> For Sadat, cost was no object as the money to buy Soviet arms came from Saudi Arabia.<a href="#cite_note-FOOTNOTELacey1981393–394-32">[32]</a> At the same time, Faisal promised Sadat that if it should come to war, Saudi Arabia would embargo oil to the West. In April 1973, the Saudi Oil Minister <a href="/wiki/Ahmed_Zaki_Yamani" title="Ahmed Zaki Yamani">Ahmed Zaki Yamani</a> visited Washington to meet Kissinger and told him that King Faisal was becoming more and more unhappy with the United States, saying he wanted America to pressure Israel to return all the lands captured in the Six Day War of 1967.<a href="#cite_note-FOOTNOTELacey1981398–399-33">[33]</a> In a later interview, Yamani accused Kissinger of not taking his warning seriously, saying all he did was to ask him not to speak anymore of this threat.<a href="#cite_note-FOOTNOTELacey1981399-34">[34]</a> Angry at Kissinger, Yamani in an interview with the Washington Post on April 19, 1973, warned that King Faisal was considering an oil embargo.<a href="#cite_note-FOOTNOTELacey1981399-34">[34]</a> At the time, the general feeling in Washington was the Saudis were bluffing and nothing would come of their threat to impose an oil embargo.<a href="#cite_note-FOOTNOTELacey1981400–401-35">[35]</a> The fact that Faisal's ineffectual half brother King Saud had imposed a cripplingly oil embargo on Britain and France during the Suez War of 1956 was not considered an important precedent. The CEOs of four of America's oil companies had after speaking to Faisal arrived in Washington in May 1973 with the warning that Faisal was considerably tougher, more intelligent and more ruthless than his half-brother Saud whom he had deposed in 1964, and his threats were serious.<a href="#cite_note-FOOTNOTELacey1981401–402-36">[36]</a> Kissinger declined to meet the four CEOs.<a href="#cite_note-FOOTNOTELacey1981402-37">[37]</a> In an assessment done by Kissinger and his staff about the Middle East in the summer of 1973, the repeated statements by Sadat about waging jihad against Israel were dismissed as empty talk while the warnings from King Faisal were likewise regarded as inconsequential.<a href="#cite_note-FOOTNOTELacey1981402-37">[37]</a> In September 1973, Nixon fired Rogers as Secretary of State and replaced him with Kissinger. Kissinger was later to state he had not been given enough time to know the Middle East as he settled into the State Department's office at Foggy Bottom as Egypt and Syria attacked Israel on October 6, 1973.<a href="#cite_note-FOOTNOTELacey19814021-38">[38]</a> <div class="mw-heading mw-heading3"><h3 id="The_"oil_weapon"">The "oil weapon"</h3></div> On October 6, 1973, Egypt attacked the <a href="/wiki/Bar_Lev_Line" title="Bar Lev Line">Bar Lev Line</a> in the <a href="/wiki/Sinai_Peninsula" title="Sinai Peninsula">Sinai Peninsula</a> and Syria launched an offensive in the <a href="/wiki/Golan_Heights" title="Golan Heights">Golan Heights</a>, both of which had been <a href="/wiki/Israeli_occupied_territories" class="mw-redirect" title="Israeli occupied territories">occupied by Israel</a> during the 1967 <a href="/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a>. The war began during the height of the Watergate scandal and Nixon largely let Kissinger manage foreign policy as he was distracted by the scandal.<a href="#cite_note-FOOTNOTELacey1981408–409-39">[39]</a> On 8 October 1973, Faisal told two Egyptian envoys: "You have made us all proud. In the past we could not lift our heads up. Now we can".<a href="#cite_note-FOOTNOTELacey1981404-40">[40]</a> Faisal promised to give to Egypt a quality of aid worth $200 million US dollars to assist with the war effort, and stated he was willing to use the "oil weapon" if necessary to support Egypt.<a href="#cite_note-FOOTNOTELacey1981404-40">[40]</a> Kissinger promised the Israeli Prime Minister <a href="/wiki/Golda_Meir" title="Golda Meir">Golda Meir</a> the United States would replace its losses in equipment after the war, but sought initially to delay arm shipments to Israel as he believed it would improve the odds of making peace along the lines of <a href="/wiki/United_Nations_Security_Council_Resolution_242" title="United Nations Security Council Resolution 242">United Nations Security Council Resolution 242</a> calling for a "land for peace" deal if an armistice was signed with Egypt and Syria gaining some territory in the Sinai and the Golan Heights respectively.<a href="#cite_note-FOOTNOTELacey1981408-41">[41]</a> Nixon had ordered an arms lift to Israel on 12 October 1973, but Kissinger used the excuse of bureaucratic delays to limit the amount of weapons and ammunition sent to Israel.<a href="#cite_note-FOOTNOTELacey1981409-42">[42]</a> The Arab concept of the "peace of the brave" (i.e. a victorious leader being magnanimous to his defeated opponents) meant there was a possibility that Sadat at least would make peace with Israel provided that the war ended in such a way that Egypt was not perceived to be defeated. Likewise, Kissinger regarded Meir as being rather arrogant and believed that an armistice that ended the war in a manner that was not an unambiguous Israeli victory would make her more humble.<a href="#cite_note-FOOTNOTELacey1981408-41">[41]</a> As both Syria and Egypt lost much equipment during the fighting, the Soviet Union began to fly new equipment in starting on October 12, and the Soviet flights to Syria and Egypt were recorded by the British radar stations in Cyprus.<a href="#cite_note-FOOTNOTELacey1981408-41">[41]</a> Though the Soviets were flying in an average of 60 flights per day, exaggerated accounts appeared in Western newspapers speaking of "one hundred flights per day".<a href="#cite_note-FOOTNOTELacey1981408–409-39">[39]</a> At this point, both Nixon and Kissinger began to see the October War more in terms of the Cold War rather than Middle Eastern politics, both seeing the Soviet arms lifts to Egypt and Syria as a Soviet power play that required an American answer.<a href="#cite_note-FOOTNOTELacey1981408–409-39">[39]</a> On October 12, 1973, US president <a href="/wiki/Richard_Nixon" title="Richard Nixon">Richard Nixon</a> authorized <a href="/wiki/Operation_Nickel_Grass" title="Operation Nickel Grass">Operation Nickel Grass</a>, a <a href="/wiki/Strategic_airlift" class="mw-redirect" title="Strategic airlift">strategic airlift</a> to deliver weapons and supplies to Israel in order to replace its <a href="/wiki/Materiel" title="Materiel">materiel</a> losses,<a href="#cite_note-43">[43]</a> after the Soviet Union began sending arms to Syria and Egypt.<a href="#cite_note-44">[44]</a> The first American weapons to Israel arrived only on 15 October 1973, and despite Nixon's orders the number of American planes flying into Tel Aviv were initially limited.<a href="#cite_note-FOOTNOTELacey1981410-45">[45]</a> After the first week of the war, the Israelis had halted the Syrian offensive in the Golan Heights and were pushing back the Syrians back towards Damascus, but along the Suez canal, there was heavy fighting with the Egyptians holding their own.<a href="#cite_note-FOOTNOTELacey1981405-46">[46]</a> Yamani stated in a 1981 interview: "The king still wanted to give America a chance to stay out of the fighting. So we agreed to cut back production by just 5 percent per month. A full embargo, we agreed, was something we would implement only if we felt that things were absolutely hopeless".<a href="#cite_note-FOOTNOTELacey1981405–406-47">[47]</a> At an OPEC summit at the Sheraton Hotel in Kuwait City on October 16, 1973, it was announced the price of oil would go from $3.01 U.S. dollars per barrel to $5.12 per barrel.<a href="#cite_note-FOOTNOTELacey1981406-48">[48]</a> After agreeing to the price increase, the Iranian delegation left Kuwait City as the Shah of Iran was only interested in higher oil prices.<a href="#cite_note-FOOTNOTELacey1981406-48">[48]</a> The Oil Minister of Iraq, <a href="/wiki/Sa%27dun_Hammadi" title="Sa'dun Hammadi">Sa'dun Hammadi</a> demanded the "total nationalization" of all assets of American oil companies in the Middle East, the withdrawal of all Arab funds from the United States and for all Arab states to break diplomatic relations with the United States.<a href="#cite_note-FOOTNOTELacey1981406-48">[48]</a> The Libyan Oil Minister, Izz al-Din al-Mabruk, called for the nationalization of all the assets of all Western oil companies in the Middle East.<a href="#cite_note-FOOTNOTELacey1981406-48">[48]</a> The news about the war on October 16 was grim from the Arab viewpoint with the Syrians steadily being pushed back while Israelis had opened a counter-offensive against the Egyptians and crossed the Great Bitter Lake.<a href="#cite_note-FOOTNOTELacey1981406-48">[48]</a> The Saudi delegation led by Yemani, supported by the Algerian delegation, fought hard against the Iraqi and Libyan demands for an embargo as Yemani maintained that forcing through an increase in the price of oil was the best way to influence the United States.<a href="#cite_note-FOOTNOTELacey1981406–407-49">[49]</a> Hammadi and the rest of the Iraqi delegation left in a huff as Yemani had won over the majority of the delegations to the Saudi viewpoint.<a href="#cite_note-FOOTNOTELacey1981408-41">[41]</a> The statement issued after midnight at the Sheraton Hotel was handwritten and reflecting the tense talk had several paragraphs crossed out while other paragraphs were written in by different hands.<a href="#cite_note-FOOTNOTELacey1981407-50">[50]</a> On October 17, Arab oil producers cut production by 5% and instituted an oil embargo against Israel's allies: the United States, the Netherlands, <a href="/wiki/Rhodesia" title="Rhodesia">Rhodesia</a>, South Africa, and Portugal.<a href="#cite_note-spr-14">[14]</a> On October 17–19, 1973, the Saudi Foreign Minister, <a href="/wiki/Omar_Al_Saqqaf" title="Omar Al Saqqaf">Omar Al Saqqaf</a>, visited Washington together with the foreign ministers of Algeria, Kuwait and Morocco to warn that there was a real possibility of an oil embargo being imposed.<a href="#cite_note-FOOTNOTELacey1981410-45">[45]</a> Saqqaf complained to King Faisal that Nixon seemed more interested in a dispute about "a burglary" (i.e. the Watergate scandal) than about the October War.<a href="#cite_note-FOOTNOTELacey1981410-45">[45]</a> During a press conference, an American reporter mocked the threat, contemptuously saying the Saudis "could drink their oil", leading Saqqaf to reply in anger "All right, we will!".<a href="#cite_note-FOOTNOTELacey1981410-45">[45]</a> Joined by the foreign ministers of Algeria, Kuwait and Morocco, Saqqaf met with Nixon in the Oval Office who promised him that the United States would mediate a settlement to the war that would be "peaceful, just and honorable" to both sides.<a href="#cite_note-FOOTNOTELacey1981410-45">[45]</a> Saqqaf reported to King Faisal that Nixon told him that he ended the Vietnam war on an honorable basis and now intended to end the October war in the same manner.<a href="#cite_note-FOOTNOTELacey1981410-45">[45]</a> Israel took heavy losses in men and material during the fighting against Egypt and Syria, and on October 18, 1973, Meir requested $850 million worth of American arms and equipment to replace its material losses.<a href="#cite_note-FOOTNOTELacey1981410–411-51">[51]</a> Nixon decided characteristically to act on an epic scale and instead of the $850 million worth of arms requested sent a request to Congress for some $2.2 billion worth of arms to Israel, which was promptly approved.<a href="#cite_note-FOOTNOTELacey1981410–411-51">[51]</a> Nixon, whose administration was being badly battered by the Watergate scandal, felt that a bold foreign policy move might resuscitate his administration.<a href="#cite_note-FOOTNOTELacey1981411-52">[52]</a> Nixon later boasted in his memoirs that the U.S. Air Force flew more sorties to Israel in October 1973 than it had during the Berlin Airlift of 1948–49, flying in a gargantuan quantity of arms, though he also admitted that by the time the arms lift had begun, the Israelis had already "turned the tide of battle" in their favor, making the arms lift irrelevant to the outcome of the war.<a href="#cite_note-FOOTNOTELacey1981410–411-51">[51]</a> In an interview with the British historian <a href="/wiki/Robert_Lacey" title="Robert Lacey">Robert Lacey</a> in 1981, Kissinger later admitted about the arms lift to Israel: "I made a mistake. In retrospect it was not the best considered decision we made".<a href="#cite_note-FOOTNOTELacey1981411-52">[52]</a> The arms lift enraged King Faisal of Saudi Arabia and he retaliated on October 20, 1973, by placing a total embargo on oil shipments to the United States, to be joined by all of the other oil-producing Arab states except Iraq and Libya.<a href="#cite_note-FOOTNOTELacey1981411–412-53">[53]</a> Faisal was angry that Israel had only asked for $850 million worth of American weapons, and instead received an unsolicited $2.2 billion worth of weapons, which he perceived as a sign of the pro-Israeli slant of American foreign policy.<a href="#cite_note-FOOTNOTELacey1981411–412-53">[53]</a> Faisal also felt insulted that Nixon had just promised Saqqaf a "honorable" peace the day before he submitted the request to Congress for some $2.2 billion worth of arms for Israel, which he saw as an act of duplicity on Nixon's part.<a href="#cite_note-FOOTNOTELacey1981411-52">[52]</a> Faisal had been opposed to a total embargo and only agreed to the 5% cut on October 17 under pressure from other Arab states.<a href="#cite_note-FOOTNOTELacey1981411-52">[52]</a> Faisal felt his efforts on behalf the United States were not being appreciated in Washington, which increased his fury at Nixon.<a href="#cite_note-FOOTNOTELacey1981411-52">[52]</a> Saudi Arabia only consented to the embargo after Nixon's promise of $2.2 billion in military aid to Israel.<a href="#cite_note-MERIP-54">[54]</a> On the afternoon of October 19, 1973, Faisal was in his office when he learned about the United States sending $2.2 billion worth of weapons to Israel, and discussed the issue with two of his closest advisers, Abdullah ibn Abdul Rahman and Rashad Pharaon.<a href="#cite_note-FOOTNOTELacey1981412-55">[55]</a> The king called Yamani at about 8 pm, and told him he was needed at the Riyassa Palace immediately.<a href="#cite_note-FOOTNOTELacey1981412-55">[55]</a> Yamani told the king: "The TV news goes out at nine. If you make a decision now, we can get it announced at once".<a href="#cite_note-FOOTNOTELacey1981412-55">[55]</a> The king replied "Write this down" and announced he was placing a total embargo on the United States.<a href="#cite_note-FOOTNOTELacey1981412-55">[55]</a> The embargo was accompanied by gradual monthly production cuts—by December, production had been cut to 25% of September levels.<a href="#cite_note-MERIP-54">[54]</a> This contributed to a global recession and increased tension between the United States and several of its European allies, who faulted the US for provoking an embargo by providing what many viewed as unconditional assistance to Israel.<a href="#cite_note-hughes-56">[56]</a> OAPEC demanded a complete Israeli withdrawal from all territories beyond the <a href="/wiki/1949_Armistice_Agreements" title="1949 Armistice Agreements">1949 Armistice border</a>.<a href="#cite_note-MERIP-54">[54]</a><a href="#cite_note-graf-57">[57]</a> <div class="mw-heading mw-heading2"><h2 id="Effectiveness_of_embargo">Effectiveness of embargo</h2></div> The embargo lasted from October 1973 to March 1974.<a href="#cite_note-ahrari05-26">[26]</a> During a summit in Cairo on November 6, Kissinger asked Sadat what Faisal was like and was told: "Well, Dr. Henry, he will probably go on with you about Communism and the Jews".<a href="#cite_note-FOOTNOTELacey1981417-58">[58]</a> King Faisal's two great hatreds were Communism and Zionism as he believed that the Soviet Union and Israel were plotting together against Islam.<a href="#cite_note-FOOTNOTELacey1981385–386-59">[59]</a> When King Faisal was shown a translation into Arabic of The Protocols of the Learned Elders of Zion, he instantly believed in the authenticity of The Protocols and therefore talked to anyone who would listen about what he had learned, despite the fact that The Protocols had been exposed as a forgery in 1921.<a href="#cite_note-FOOTNOTELacey1981385–386-59">[59]</a> Initially, Secretary of Defense <a href="/wiki/James_Schlesinger" class="mw-redirect" title="James Schlesinger">James Schlesinger</a> suggested to Kissinger that the USA invade Saudi Arabia and another Arab countries and seize their oil fields. Kissinger stated in a private state department meeting that it's “ridiculous that the civilized world is held up by 8 million savages... Can’t we overthrow one of the sheikhs just to show that we can do it?” They formed a plan to invade <a href="/wiki/Abu_Dhabi" title="Abu Dhabi">Abu Dhabi</a>, Kuwait, and Saudi Arabia.<a href="#cite_note-hsg1-60">[60]</a><a href="#cite_note-wp1-61">[61]</a> Kissinger publicly threatened "countermeasures" in a Nov 21st, 1973 press conference if the embargo was not lifted, and the Saudis responded with threatening further oil cuts and to burn their oil fields if the US military invaded. After the CIA confirmed these threats, Kissinger gave up military intervention and decided that dealing with Israel's troop withdrawals and settled on diplomatic solutions to the oil embargo.<a href="#cite_note-nlm1-62">[62]</a><a href="#cite_note-oh2-63">[63]</a> On November 7, 1973, Kissinger flew to Riyadh to meet King Faisal and ask him to end the oil embargo in exchange for promising to be "evenhanded" with the Arab-Israeli dispute.<a href="#cite_note-FOOTNOTELacey1981417-58">[58]</a> As the plane carrying him prepared to land in Riyadh, Kissinger was clearly nervous at the prospect of negotiating with the stern Wahhabi Faisal who had a marked dislike of Jews.<a href="#cite_note-FOOTNOTELacey1981417-58">[58]</a> Kissinger discovered that King Faisal was a worthy companion to <a href="/wiki/L%C3%AA_%C4%90%E1%BB%A9c_Th%E1%BB%8D" title="Lê Đức Thọ">Lê Đức Thọ</a> in terms of stubbornness as the king accused the United States of being biased in favor of Israel, going on in a long rant about the balefulness of "Jewish Communists" in Russia and Israel, and despite all of Kissinger's efforts to charm him, refused to end the oil embargo.<a href="#cite_note-FOOTNOTELacey1981418–419-64">[64]</a> Faisal told Kissinger: "The United States used to stand up to aggression-you did that in World War Two and in 1956 during the Suez War. If the United States had done the same after 1967, we would not have witnessed the this deterioration... Before the Jewish State was established, there existed nothing to harm good relations between Arabs and Jews. There were many Jews in Arab countries. When the Jews were persecuted in Spain, Arabs protected them. When the Romans drove the Jews out, Arabs protected them. At Yalta, it was Stalin who said there had to be a Jewish state...Israel is advancing Communist objectives...Among those of the Jewish faith there are those who embrace Zionism...Most of the immigration to Israel is from the Soviet Union...They want to establish a Communist base right in the Middle East...And now, all over the world, the Jews are putting themselves into positions of authority".<a href="#cite_note-FOOTNOTELacey1981418-65">[65]</a> On February 22, 1974, King Faisal chaired the second summit of Islamic states in <a href="/wiki/Lahore" title="Lahore">Lahore</a> (which, unlike the first summit that Faisal had chaired in 1969, was not boycotted by Iraq and Syria<a href="#cite_note-66">[66]</a>) where he was acclaimed as a conquering hero who humiliated and humbled the West by wrecking its economy.<a href="#cite_note-FOOTNOTELacey1981419–420-67">[67]</a> The prime minister of Pakistan, Zulfikar Ali Bhutto, opened the conference by stating: "The armies of Pakistan are the armies of Islam. We shall enter Jerusalem as brothers-in-arms!"<a href="#cite_note-FOOTNOTELacey1981419-68">[68]</a> Only on March 18, 1974<a href="#cite_note-69">[69]</a> did the king end the oil embargo after Sadat, whom he trusted, reported to him that the United States was being more "evenhanded" and after Kissinger had promised to sell Saudi Arabia weapons that it had previously denied under the grounds that they might be used against Israel.<a href="#cite_note-FOOTNOTELacey1981420–421-70">[70]</a> More importantly, Saudi Arabia had billions of dollars invested in Western banks, and the massive bout of inflation set off by the oil embargo was a threat to this fortune as inflation eroded the value of the money, giving Faisal a vested interest in helping to contain the damage he himself inflicted on the economies of the West.<a href="#cite_note-FOOTNOTELacey1981421-71">[71]</a> Since Israeli forces did not withdraw to the 1949 Armistice Line, the majority of scholars believe that the embargo was a failure. Roy Licklieder, in his 1988 book Political Power and the Arab Oil Weapon, concluded that the embargo was a failure because the countries that were targeted by the embargo did not change their policies on the Arab–Israeli conflict. Licklieder believed that any long term changes were caused by the OPEC increase in the posted price of oil, and not the OAPEC embargo. <a href="/wiki/Daniel_Yergin" title="Daniel Yergin">Daniel Yergin</a>, on the other hand, has said that the embargo "remade the international economy".<a href="#cite_note-graf-57">[57]</a> Lacey wrote: "King Faisal's momentous oil embargo of 20 October 1973 did not achieve a single one of its stated objectives. The ceasefire which the USA and the USSR together imposed two days later upon Israel, Syria and Egypt would have been imposed in any case; Israel ended the October war, thanks to US aid, better equipped militarily than she had ever been before, and Faisal's ambition to shrink Israel back inside her pre-1949 boundaries remains unfulfilled to this day. Nor did the withholding of the 638,500 barrels of oil which the Saudi Arabia had been selling to America every day for the first 10 months of 1973 ever come, in itself, to jeopardizing the power or diverting the policies of the United States, since it accounted for less than 4 percent of America's daily 17 million barrel consumption. It was the interaction which Faisal's embargo had with other forces that made it so decisive. Arab politics had an immediate multiplier effect".<a href="#cite_note-FOOTNOTELacey1981413-72">[72]</a> Because every Arab state except for Iraq and Libya joined the oil embargo, oil exports from the Middle East to the West were down by 60–70% by November 1973.<a href="#cite_note-FOOTNOTELacey1981413-72">[72]</a> Japan and the nations of western Europe imported some 75% of their oil from the Near East, and the embargo led to immediate and sharp price raises as Lacey noted that "competing desperately for dwindling supplies, consumers showed themselves willing to pay unparalleled money for their oil".<a href="#cite_note-FOOTNOTELacey1981413-72">[72]</a> Saudi Arabia had 25% of the world's oil reserves and the embargo imposed on the United States led to shortages of oil in the United States, which set an inflationary spiral as the new high prices for oil in the American market led to sharp increases of the price of oil in nations not subjected to the embargo.<a href="#cite_note-FOOTNOTELacey1981413-72">[72]</a> When the Iranian state oil company held an auction on December 16, 1973, bids for some $17 US dollars per barrel of oil were made.<a href="#cite_note-FOOTNOTELacey1981413–414-73">[73]</a> In late December 1973, OPEC held a conference in Vienna when it was announced the price for a barrel of oil was to from $5 US dollars per barrel to $11.65 US dollars per barrel.<a href="#cite_note-FOOTNOTELacey1981413-72">[72]</a> Faisal was opposed to the price increase, which was largely the work of the Iranian delegation.<a href="#cite_note-FOOTNOTELacey1981414-74">[74]</a> Over the long term, the oil embargo changed the nature of policy in the West towards increased exploration, alternative energy research, energy conservation and more restrictive monetary policy to better fight inflation.<a href="#cite_note-75">[75]</a> <div class="mw-heading mw-heading2"><h2 id="Chronology">Chronology</h2></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/1970%E2%80%931979_world_oil_market_chronology" title="1970–1979 world oil market chronology">1970–1979 world oil market chronology</a></div> For further details see the "Energy crisis" series by Facts on File.<a href="#cite_note-76">[76]</a><a href="#cite_note-77">[77]</a> <ul><li>January 1973 – The <a href="/wiki/1973%E2%80%931974_stock_market_crash" title="1973–1974 stock market crash">1973–1974 stock market crash</a> commences as a result of inflation pressure and the collapsing <a href="/wiki/Smithsonian_Agreement" title="Smithsonian Agreement">monetary system</a>.</li> <li>August 23, 1973 – In preparation for the Yom Kippur War, Saudi King <a href="/wiki/Faisal_of_Saudi_Arabia" title="Faisal of Saudi Arabia">Faisal</a> and Egyptian president <a href="/wiki/Anwar_Sadat" title="Anwar Sadat">Anwar Sadat</a> meet in <a href="/wiki/Riyadh" title="Riyadh">Riyadh</a> and secretly negotiate an accord whereby the Arabs will use the "oil weapon" as part of the military conflict.<a href="#cite_note-78">[78]</a></li> <li>October 6 – Egypt and Syria attack Israeli positions on <a href="/wiki/Yom_Kippur" title="Yom Kippur">Yom Kippur</a>, starting the <a href="/wiki/1973_Arab%E2%80%93Israeli_War" class="mw-redirect" title="1973 Arab–Israeli War">1973 Arab–Israeli War</a>.</li> <li>Night of October 8 – Israel goes on full nuclear alert. Kissinger is notified on the morning of October 9. United States begins to resupply Israel.</li> <li>October 8–10 – OPEC negotiations with major oil companies to revise the 1971 <a href="/wiki/Tehran" title="Tehran">Tehran</a> price agreement fail.</li> <li>October 12 – The United States initiates <a href="/wiki/Operation_Nickel_Grass" title="Operation Nickel Grass">Operation Nickel Grass</a>, a strategic airlift to provide replacement weapons and supplies to Israel. This followed similar <a href="/wiki/Soviet" class="mw-redirect" title="Soviet">Soviet</a> moves to supply the Arab side.</li> <li>October 16 – <a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>, <a href="/wiki/Iran" title="Iran">Iran</a>, <a href="/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/wiki/Abu_Dhabi" title="Abu Dhabi">Abu Dhabi</a>, <a href="/wiki/Kuwait" title="Kuwait">Kuwait</a> and <a href="/wiki/Qatar" title="Qatar">Qatar</a> raise posted prices by 17% to $3.65 per barrel and announce production cuts.<a href="#cite_note-79">[79]</a></li> <li>October 17 – OAPEC oil ministers agree to use oil to influence the West's support of Israel. They recommended an embargo against non-complying states and mandated export cuts.</li> <li>October 19 – Nixon requests Congress to appropriate $2.2 billion in emergency aid to Israel, which triggers a collective Arab response.<a href="#cite_note-FOOTNOTELenczowski1990130-80">[80]</a> <a href="/wiki/Libya" title="Libya">Libya</a> immediately proclaims an embargo on oil exports to the US.<a href="#cite_note-gaddafiem-81">[81]</a> Saudi Arabia and other Arab oil-producing states follow the next day.<a href="#cite_note-gaddafiem-81">[81]</a></li> <li>October 26 – The Yom Kippur War ends.</li> <li>November 5 – Arab producers announce a 25% output cut. A further 5% cut is threatened.</li> <li>November 23 – The Arab embargo is extended to Portugal, <a href="/wiki/Rhodesia" title="Rhodesia">Rhodesia</a> and South Africa.</li> <li>November 27 – Nixon signs the <a href="/wiki/Emergency_Petroleum_Allocation_Act" title="Emergency Petroleum Allocation Act">Emergency Petroleum Allocation Act</a> authorizing price, production, allocation and marketing controls.</li> <li>December 9 – Arab oil ministers agree to another five percent production cut for non-friendly countries in January 1974.</li> <li>December 25 – Arab oil ministers cancel the January output cut. Saudi oil minister <a href="/wiki/Ahmed_Zaki_Yamani" title="Ahmed Zaki Yamani">Ahmed Zaki Yamani</a> promises a ten percent OPEC production rise.</li> <li>January 7–9, 1974 – OPEC decides to freeze prices until April 1.</li> <li>January 18 – Israel signs a withdrawal agreement to pull back to the east side of the Suez Canal.</li> <li>February 11 – Kissinger unveils the <a href="/wiki/Project_Independence" title="Project Independence">Project Independence</a> plan for US energy independence.</li> <li>February 12–14 – Progress in Arab-Israeli disengagement triggers discussion of oil strategy among the heads of state of <a href="/wiki/Algeria" title="Algeria">Algeria</a>, Egypt, Syria and Saudi Arabia.</li> <li>March 5 – Israel withdraws the last of its troops from the west side of the <a href="/wiki/Suez_Canal" title="Suez Canal">Suez Canal</a>.</li> <li>March 17 – Arab oil ministers, with the exception of Libya, announce the end of the US embargo.</li> <li>May 31 – Diplomacy by Kissinger produces a disengagement agreement on the Syrian front.</li> <li>December 1974 – The U.S. stock market recovers.</li></ul> <div class="mw-heading mw-heading2"><h2 id="Effects">Effects</h2></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/Nixon_shock" title="Nixon shock">Nixon shock</a> and <a href="/wiki/1973%E2%80%931975_recession" title="1973–1975 recession">1973–1975 recession</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Crude_oil_prices_since_1861.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/330px-Crude_oil_prices_since_1861.png" decoding="async" width="330" height="216" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/495px-Crude_oil_prices_since_1861.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/660px-Crude_oil_prices_since_1861.png 2x" data-file-width="1764" data-file-height="1155" /></a><figcaption>Oil prices in USD, 1861–2015 (1861–1944 averaged US crude oil, 1945–1983 Arabian Light, 1984–2015 Brent). Red line adjusted for inflation, blue not adjusted.</figcaption></figure> The effects of the embargo were immediate. OPEC forced oil companies to increase payments drastically. The price of oil quadrupled by 1974 from US$3 to nearly US$12 per 42 gallon barrel ($75 per cubic meter), equivalent in 2018 dollars to a price rise from $17 to $61 per barrel.<a href="#cite_note-cbc-4">[4]</a> Saudi Arabia had 25% of the world's oil, but only 4% of the oil used in the United States in 1973 came from the kingdom.<a href="#cite_note-FOOTNOTELacey1981413-72">[72]</a> However, Saudi Arabia plays an over-sized role within the Arab world, and as a Beirut oil consultant noted in 1974: "If Saudi Arabia moves from A to B, then every other oil producer must move at least as far, if not to C."<a href="#cite_note-FOOTNOTELacey1981413-72">[72]</a> In 1973, about 25% of the oil used in the United States came from Arab countries.<a href="#cite_note-FOOTNOTEShwadran201958-82">[82]</a> The mere shortage of oil caused by the Arab oil embargo within the United States forced prices to raise, which in turn led prices to rise everywhere all over the world as oil producers that had not joined the embargo such as Iran, Venezuela, Libya and Iraq demanded higher prices in Japan and Europe as an initiative to ship oil to those places instead of the United States, thus settling off a worldwide inflationary spiral.<a href="#cite_note-FOOTNOTELacey1981413–414-73">[73]</a> The only European nations subject to the oil embargo were the Netherlands (because the Dutch Foreign Minister <a href="/wiki/Max_van_der_Stoel" title="Max van der Stoel">Max van der Stoel</a> was strongly pro-Israeli) and Portugal (in a support of show for the independence movements in Portugal's African colonies), but the shortage of oil in the United States led to sharp price rises in all of the European nations.<a href="#cite_note-FOOTNOTELacey1981413-72">[72]</a> The embargo itself did not cause much economic difficulty in the United States as the Americans simply imported more oil from nations that were not part of the embargo such as Iran, but the 400% increase in the price of oil caused by the embargo did damage the American economy.<a href="#cite_note-FOOTNOTEShwadran201958-82">[82]</a> A number of nations such as Venezuela, Nigeria, Iran and Iraq increased their oil production during the embargo, but just sold their oil at a higher price.<a href="#cite_note-FOOTNOTEGaravini2019219-83">[83]</a> The leader who pushed the most for higher oil prices was the Shah of Iran, and the Italian historian Giuliano Garavini has argued that the leader most responsible for the West's economic problems during the "oil shock" was not King Faisal, but rather the Shah.<a href="#cite_note-FOOTNOTEGaravini2019221-84">[84]</a> Some of the nations that were classified as "friendly" to the Arab viewpoint in regards to the Arab-Israeli dispute such as France and Belgium were the ones who suffered the most from the worldwide inflation caused by the embargo.<a href="#cite_note-FOOTNOTEGaravini2019219-83">[83]</a> The crisis eased when the embargo was lifted in March 1974 after negotiations at the Washington Oil Summit, but the effects lingered throughout the 1970s. The dollar price of energy increased again the following year, amid the weakening competitive position of the dollar in world markets. The Arab oil embargo ended the long period of prosperity in the West that had begun in 1945, throwing the world's economy into the steepest economic contraction since the Great Depression.<a href="#cite_note-FOOTNOTELacey1981414–415-17">[17]</a> The "long summer" of prosperity in the post-war years had made possible the "swinging sixties" and the related rise of a rebellious youth culture as it was very easy to be hedonist and/or in rebellion against traditional values in a time of unprecedented affluence and prosperity.<a href="#cite_note-FOOTNOTELacey1981414-74">[74]</a> Lacey wrote about the impact of the Arab oil embargo of 1973–74 that for people in the West life suddenly become "slower, darker and chiller" as gasoline was rationed, the lights were turned off in Times Square, the "gas guzzler" automobiles suddenly stopped selling, speed limits became common and restrictions were placed on weekend driving in a bid to conserve fuel.<a href="#cite_note-FOOTNOTELacey1981415-15">[15]</a> As the American automobile industry specialized in producing heavy "gas guzzler" vehicles, there was an immediate shift on the part of consumers to the lighter and more fuel efficient vehicles produced by the Japanese and West German automobile industries, sending the American automobile industry into decline. The years from 1945 to 1973 had been a period of unprecedented prosperity in the West, a "long summer" that many believed would never end, and its abrupt end in 1973 as the oil embargo which increased the price of oil by 400% within a matter of days threw the world's economy into a sharp recession with unemployment mounting and inflation raging came as a profound shock.<a href="#cite_note-FOOTNOTELacey1981414–416-85">[85]</a> The end of what the French called the Trente Glorieuses ("Glorious Thirty" [years]) led to a mood of widespread pessimism in the West with the Financial Times running a famous headline in late 1973 saying "The Future will be subject to Delay".<a href="#cite_note-FOOTNOTELacey1981416–417-86">[86]</a> Kurt Waldheim, the secretary-general of the United Nations in an address to the General Assembly complained about "the note of helplessness and fatalism creeping into world affairs".<a href="#cite_note-FOOTNOTELacey1981416-87">[87]</a> The sudden and abrupt end of the "long summer" of prosperity in 1973-1974 played a major role in the pessimistic mood that characterized the culture of the rest of the 1970s.<a href="#cite_note-FOOTNOTELacey1981416–417-86">[86]</a> In 1975, a report to Congress from the Federal Energy Administration estimated that the embargo of 1973–1974 had caused about 500,000 Americans to lose their jobs and caused a GNP loss between $10 billion–$20 billion.<a href="#cite_note-FOOTNOTEShwadran201958-82">[82]</a> <div class="mw-heading mw-heading3"><h3 id="Impact_on_oil_exporting_nations">Impact on oil exporting nations</h3></div> This price increase had a dramatic effect on oil exporting nations, for the countries of the Middle East who had long been dominated by the industrial powers were seen to have taken control of a vital commodity. The oil-exporting nations began to accumulate vast wealth. <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:No_gas_1974.gif" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/29/No_gas_1974.gif/170px-No_gas_1974.gif" decoding="async" width="170" height="256" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/29/No_gas_1974.gif/255px-No_gas_1974.gif 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/29/No_gas_1974.gif/340px-No_gas_1974.gif 2x" data-file-width="386" data-file-height="582" /></a><figcaption>An American at a service station reads about the gasoline rationing system in an afternoon newspaper; a sign in the background states that no gasoline is available. 1974</figcaption></figure> Some of the income was dispensed in the form of aid to other underdeveloped nations whose economies had been caught between higher oil prices and lower prices for their own export commodities, amid shrinking Western demand. Much went for arms purchases that exacerbated political tensions, particularly in the Middle East. Saudi Arabia spent over 100 billion dollars in the ensuing decades for helping spread its fundamentalist interpretation of Islam, known as <a href="/wiki/Wahhabism" title="Wahhabism">Wahhabism</a>, throughout the world, via religious charities such as the <a href="/wiki/Al-Haramain_Foundation" title="Al-Haramain Foundation">al-Haramain Foundation</a>, which often also distributed funds to violent Sunni extremist groups such as Al-Qaeda and the Taliban.<a href="#cite_note-88">[88]</a> The 400% increase in the world oil prices led to extravagant promises being made by the leaders of oil-producing nations. The Shah of Iran told his subjects in a speech in December 1973 that he was launching "Great Civilization" project that would make Iran into a First World nation by the 1990s; President <a href="/wiki/Carlos_Andr%C3%A9s_P%C3%A9rez" title="Carlos Andrés Pérez">Carlos Andrés Pérez</a> of Venezuela likewise launched his Le Gran Venezuela project intended to make Venezuela into a First World nation; and President <a href="/wiki/Yakubu_Gowon" title="Yakubu Gowon">Yakubu Gowon</a> of Nigeria told his people that henceforward Nigeria's main problem would be "managing abundance".<a href="#cite_note-FOOTNOTEGaravini2019281-89">[89]</a> After the oil shock, Nigeria presented itself as the first African nation that would reach First World status and in Lagos a series of stately modernist buildings were erected as appropriate for a nation that saw itself as the leader of all black Africa.<a href="#cite_note-FOOTNOTEGaravini2019187-90">[90]</a> Much of the oil wealth in Nigeria was stolen by corrupt politicians. However, at least some of Nigeria's new oil wealth went to rebuild the areas devastated by the civil war of 1967-1970 and to address the complaints that too much of Nigeria's oil wealth went to the federal government in Lagos instead of the people.<a href="#cite_note-FOOTNOTEGaravini2019168-91">[91]</a> In Iran, the Shah who was aware by 1974 that he had developed the cancer that was to ultimately kill him in 1980 pushed very strongly for his "Great Civilization" for rapid modernization not the least because he wanted to see the "Great Civilization" before his death, which explained his grandiose announcements.<a href="#cite_note-FOOTNOTEGaravini2019225-92">[92]</a> The new wealth generated by the "oil shock" allowed for Chairman <a href="/wiki/Houari_Boum%C3%A9di%C3%A8ne" title="Houari Boumédiène">Houari Boumédiène</a> of Algeria to become a global leader, courted by elites in both the First World and the Third World.<a href="#cite_note-FOOTNOTEGaravini2019250-93">[93]</a> The oil embargo led a sudden interest in the Palestinian issue. Between 1973 and 1981, Saudi Arabia donated a sum worth $1 billion US dollars to the <a href="/wiki/Palestine_Liberation_Organization" title="Palestine Liberation Organization">Palestine Liberation Organization</a>, which thus had a budget that exceeded that of many Third World nations.<a href="#cite_note-FOOTNOTELacey1981446-94">[94]</a> On November 8, 1973, Kissinger became the first Secretary of State to meet with a Saudi leader since 1953 as he met King Faisal to ask him to end the embargo.<a href="#cite_note-FOOTNOTELacey1981417-58">[58]</a> Within two week of the embargo being launched, all of the foreign ministers of the nations of the European Economic Community (now the European Union) met in a conference to issue a statement calling for Israel "to end the territorial occupation which has maintained since the conflict of 1967".<a href="#cite_note-FOOTNOTELacey1981415-15">[15]</a> On December 11, 1973, the Japanese Foreign Minister <a href="/wiki/Masayoshi_%C5%8Chira" title="Masayoshi Ōhira">Masayoshi Ōhira</a> flew in to Riyadh to meet King Faisal for "talks on improving bilateral relations".<a href="#cite_note-FOOTNOTELacey1981415-15">[15]</a> Shortly afterwards, the French foreign minister <a href="/wiki/Michel_Jobert" title="Michel Jobert">Michel Jobert</a> arrived to sign an agreement that provided oil for France for the next twenty years.<a href="#cite_note-FOOTNOTELacey1981415–416-95">[95]</a> On January 24, 1974, as the Shah of Iran, <a href="/wiki/Mohammad_Reza_Pahlavi" title="Mohammad Reza Pahlavi">Mohammad Reza Pahlavi</a>, was coming off the ski slopes of <a href="/wiki/St._Moritz" title="St. Moritz">St. Moritz</a>, he was met by the British Chancellor of Exchequer, <a href="/wiki/Anthony_Barber" title="Anthony Barber">Anthony Barber</a>, and the Trade Secretary, <a href="/wiki/Peter_Walker,_Baron_Walker_of_Worcester" title="Peter Walker, Baron Walker of Worcester">Peter Walker</a>.<a href="#cite_note-FOOTNOTELacey1981416-87">[87]</a> In a role-reversal, Barber and Walker paid homage to the Shah, who promised them that his nation would sell the United Kingdom 5 million tons of oil in exchange for some £100 million of British goods to aid his plans to industrialize Iran.<a href="#cite_note-FOOTNOTELacey1981416-87">[87]</a> Saudi Arabia experienced an upsurge of prosperity and affluence after the oil embargo whose consequences horrified King Faisal.<a href="#cite_note-FOOTNOTELacey1981423-96">[96]</a> Faisal who was devoted to a harsh puritanical strain of Sunni Islam known in the West as Wahhabism was appalled by the way that his subjects became materialistic, devoted only to conspicuous consumption and greed as they lost interest in Islam.<a href="#cite_note-FOOTNOTELacey1981423-96">[96]</a> Lacey wrote: "The spiritual dangers of easy affluence distressed him more. His simple gesture of piety and honor seemed to have opened a Pandora's Box that threatened to turn his realm into a parody of all he held dear".<a href="#cite_note-FOOTNOTELacey1981423-96">[96]</a> In the last two of years of his life, Faisal fell into depression over the way his subjects had been seduced into a consumerist lifestyle, becoming lost in a sense of "melancholia".<a href="#cite_note-FOOTNOTELacey1981423-96">[96]</a> Faisal's son, Crown Prince Mohammad told Lacey in 1981: "The profligacy, the greed, he felt he could not stem it. He become so bound up in his work, there was almost nothing private of him left".<a href="#cite_note-FOOTNOTELacey1981423–424-97">[97]</a> A sign of the changed values was that despite the total ban on alcohol in Saudi Arabia that drinking along with drug use become common with the younger members of the House of Saud.<a href="#cite_note-FOOTNOTELacey1981425–426-98">[98]</a> James Akins, the American ambassador in Riyadh reported; "the sky over Riyadh is black with vultures with new get-richer-quicker plans under their wings".<a href="#cite_note-FOOTNOTELacey1981422-99">[99]</a> In 1974, property prices in Riyadh doubled on a weekly basis for the entire year as the prosperity led to a real estate speculation bubble that was often compared to the Klondike gold rush of 1898–1899.<a href="#cite_note-FOOTNOTELacey1981422-99">[99]</a> At the Red Sea port of <a href="/wiki/Jeddah" title="Jeddah">Jeddah</a>, there were so many ships queuing up laden with cement for the construction boom in Saudi Arabia that construction contractors hired helicopters to fly the cement in, twenty bags per flight.<a href="#cite_note-FOOTNOTELacey1981422-99">[99]</a> A number of families engaged in the Saudi construction industry such as the Juffali, Alireza, al-Khasshoggi and the bin Laden families all become very wealthy as a result of the construction boom.<a href="#cite_note-FOOTNOTELacey1981507-100">[100]</a> The period after the oil shock of 1973–1974 is still fondly remembered in Saudi Arabia as the "age of abundance" where nearly everyone had a significant increase in their standard of living.<a href="#cite_note-FOOTNOTEGaravini2019281-89">[89]</a> The wealth and corruption generated by the oil shock led to a fundamentalist backlash in Saudi Arabia.<a href="#cite_note-FOOTNOTELacey1981481–482-101">[101]</a> On 20 November 1979, Islam's most holiest shrine, the Grand Mosque of Mecca, was seized by a group of fanatics who proclaimed themselves to be the followers of the Mahdi (a messianic figure said to appear at the dawn of every Muslim century to strike down the enemies of Islam).<a href="#cite_note-FOOTNOTELacey1981478–479-102">[102]</a> The leader of the uprising, <a href="/wiki/Juhayman_al-Otaybi" title="Juhayman al-Otaybi">Juhayman al-Otaybi</a>, read out a list of grievances as he accused the House of Saud of being corrupt and degenerate as he listed by name a number of Saudi princes who were engaged in dubious business dealings and/or who drank alcohol.<a href="#cite_note-FOOTNOTELacey1981482-103">[103]</a> The Saudi Army recaptured the Grand Mosque and the surviving "renegades" as the rebels were labelled were executed.<a href="#cite_note-FOOTNOTELacey1981485–490-104">[104]</a> Likewise, the perception that that most of the wealth being generated by the now higher price of oil was being stolen by a corrupt Shah along with the unfulfilled promises of the "Great Civilization" project played a major role in causing the Iranian Revolution of 197–1979 that toppled the Shah and led to the establishment of the Islamic Republic of Iran in February 1979.<a href="#cite_note-FOOTNOTEGaravini2019287-105">[105]</a> In Algeria, the "oil shock" led to the establishment of a welfare state where none had existed previously. The lower oil prices of the 1980s along with cutbacks and the belief that the FLN regime was corrupt helped cause the riots of October 1988 against the FLN regime that killed at least 500 people.<a href="#cite_note-FOOTNOTELe_Sueur201031–32-106">[106]</a> The riots were largely caused by the fact that the low oil prices had forced the Algerian state to end many of its more generous social policies between 1986 and 1988, leading to an unemployment rate of 30% by 1988 along with the knowledge that the FLN regime had stolen millions.<a href="#cite_note-FOOTNOTELe_Sueur201032-107">[107]</a> In the aftermath of the October riots, President Chadli Bendjedid began a transition to democracy. The first free elections in Algeria in January 1992 were won by the Islamist FIS, which led to a military coup and an outbreak of civil war that was to kill hundreds of thousands.<a href="#cite_note-FOOTNOTELe_Sueur201053-108">[108]</a> OPEC-member states raised the prospect of nationalization of oil company holdings. Most notably, Saudi Arabia nationalized <a href="/wiki/Aramco" class="mw-redirect" title="Aramco">Aramco</a> in 1980 under the leadership of Saudi oil minister <a href="/wiki/Ahmed_Zaki_Yamani" title="Ahmed Zaki Yamani">Ahmed Zaki Yamani</a>. As other OPEC nations followed suit, the cartel's income soared. Saudi Arabia undertook a series of ambitious five-year development plans. The biggest began in 1980, funded at $250 billion. Other cartel members also undertook major economic development programs. <div class="mw-heading mw-heading3"><h3 id="Oil_weapon">Oil weapon</h3></div> Control of oil became known as the "oil weapon". It came in the form of an embargo and production cutbacks from the Arab states. The weapon was aimed at the United States, Great Britain, Canada, Japan and the Netherlands. These target governments perceived that the intent was to push them towards a more pro-Arab position.<a href="#cite_note-FOOTNOTELicklider1988205–226-109">[109]</a> Production was eventually cut by 25%.<a href="#cite_note-110">[110]</a> However, the affected countries did not undertake dramatic policy changes.<a href="#cite_note-FOOTNOTELicklider1988217-111">[111]</a> The risk that the Middle East could become another superpower confrontation with the USSR was of more concern to Washington than oil. Further, interest groups and government agencies more worried about energy were no match for Kissinger's dominance.<a href="#cite_note-FOOTNOTELicklider1988217,_219-112">[112]</a> <div class="mw-heading mw-heading3"><h3 id="Impact_on_United_States">Impact on United States</h3></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Gas_Stealers_Beware_1974.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/a/af/Gas_Stealers_Beware_1974.jpg/220px-Gas_Stealers_Beware_1974.jpg" decoding="async" width="220" height="150" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/af/Gas_Stealers_Beware_1974.jpg/330px-Gas_Stealers_Beware_1974.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/af/Gas_Stealers_Beware_1974.jpg/440px-Gas_Stealers_Beware_1974.jpg 2x" data-file-width="920" data-file-height="629" /></a><figcaption>Gas stealers beware, 1974</figcaption></figure> In the US production, distribution and price disruptions "have been held responsible for recessions, periods of excessive inflation, reduced productivity, and lower economic growth."<a href="#cite_note-113">[113]</a> Some researchers regard the 1973 "oil price shock" and the accompanying <a href="/wiki/1973%E2%80%9374_stock_market_crash" class="mw-redirect" title="1973–74 stock market crash">1973–74 stock market crash</a> as the first discrete event since the <a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a> to have a persistent effect on the US economy.<a href="#cite_note-Perron1988-114">[114]</a> The embargo had a negative influence on the US economy by causing immediate demands to address the threats to U.S. energy security.<a href="#cite_note-FOOTNOTEIkenberry1986107-115">[115]</a> On an international level, the price increases changed competitive positions in many industries, such as automobiles. Macroeconomic problems consisted of both inflationary and deflationary impacts.<a href="#cite_note-FOOTNOTEIkenberry1986109-116">[116]</a> The embargo left oil companies searching for new ways to increase oil supplies, even in rugged terrain such as the Arctic. Finding oil and developing new fields usually required five to 10 years before significant production.<a href="#cite_note-117">[117]</a> The average US retail price of a gallon of regular <a href="/wiki/Gasoline" title="Gasoline">gasoline</a> rose 43% from 38.5¢ in May 1973 to 55.1¢ in June 1974. State governments asked citizens not to put up Christmas lights. Oregon banned Christmas and commercial lighting altogether. Politicians called for a national gasoline rationing program. Nixon asked gasoline retailers to voluntarily not sell gasoline on Saturday nights or Sundays; 90% of gas station owners complied, which produced long lines of motorists wanting to fill up their cars while they still could.<a href="#cite_note-FOOTNOTEFrum2000313,_318-118">[118]</a> The "oil shock" provided considerable impetus to the American nuclear industry as a way to achieve "energy independence" from the Middle East.<a href="#cite_note-FOOTNOTEJasper19903-119">[119]</a> On 7 November 1973, Nixon in an address to Congress called for Project Independence to make the United States self-sufficient in energy by 1980, which called for a massive investment in the nuclear industry.<a href="#cite_note-FOOTNOTEJasper1990115-120">[120]</a> Nixon seems to have assumed that nuclear energy was economical, and was encouraged by the faddish enthusiasm of many officials who more on the basis of faith than rationality saw nuclear energy as the technology of the future.<a href="#cite_note-FOOTNOTEJasper1990115-120">[120]</a> By the late 1960s, a lively environmentalist movement had emerged in the United States, and the Project Independence nuclear program was the subject of much debate in both the media and Congress.<a href="#cite_note-FOOTNOTEJasper1990107-109-121">[121]</a> The ensuing debates revealed that many of the claims made for nuclear power vast underestimated the true costs of nuclear reactors.<a href="#cite_note-FOOTNOTEJasper1990108-122">[122]</a> Equally problematic was the troublesome issue of where to safety store the spent nuclear rods that emitted a toxic level of radioactivity for centuries afterward in an cost-effective manner. The issue of the spent nuclear rods was especially difficult because in a classic case of <a href="/wiki/NIMBYism" class="mw-redirect" title="NIMBYism">NIMBYism</a>, communities proved very unwilling to accept a storage place for the inevitable by-product of nuclear power, the spent nuclear rods, with the demand being made that the government find some other community to store the rods.<a href="#cite_note-FOOTNOTEJasper1990219-123">[123]</a> Many of the nuclear reactors ordered in 1973 were cancelled due to the horrendous cost overruns while over 100 nuclear plants were shut down as uneconomical over the next 10 years.<a href="#cite_note-FOOTNOTEJasper19904-124">[124]</a> Unlike nations that tried to use nuclear power as a way for "energy independence" such as France and Sweden, the United States had substantial reserves of its own oil, which weakened the case for nuclear power in the ensuring debates.<a href="#cite_note-FOOTNOTEJasper1990101-125">[125]</a> By 1989, only 18% of American energy came from nuclear power plants, which was a faction of what Project Independence had envisioned in 1973.<a href="#cite_note-FOOTNOTEJasper19904-124">[124]</a> The "oil shock" led to anti-Arab feelings becoming common. Cartoons published in American newspapers during the "oil shock" depicted Arabs as disgusting, ugly, obese, corrupt and greedy.<a href="#cite_note-FOOTNOTEArmstrong2001525-126">[126]</a> In the cartoons, the long hooked Semitic <a href="/wiki/Jewish_nose" title="Jewish nose">noses</a> that had traditionally been featured in anti-Jewish cartoons were applied to the Arab sheiks as a way to illustrate their supposed greed.<a href="#cite_note-FOOTNOTEArmstrong2001525-126">[126]</a> American public opinion did not see the use of the "oil weapon" as due to politics, and tended to explain the embargo as only due to the excessive greed of King Faisal and the other Arab leaders, hence the use of the hooked Semitic nose in the cartoons as a sort of shorthand for insatiable greed.<a href="#cite_note-FOOTNOTEArmstrong2001525-126">[126]</a> <div class="mw-heading mw-heading3"><h3 id="Impact_of_the_Soviet_Union">Impact of the Soviet Union</h3></div> The Soviet Union was not a beneficiary of the oil crisis. The crisis prompted the USSR to raise energy prices within the <a href="/wiki/Comecon" title="Comecon">Council on Mutual Economic Assistance</a> (CMEA). The inability of the USSR to meet energy demand from its allies led those "East European governments to purchase oil from Middle Eastern countries at increasing world market prices, crippling their balance of payments and accentuating their other economic shortcomings."<a href="#cite_note-127">[127]</a> <div class="mw-heading mw-heading3"><h3 id="Impact_on_Western_Europe">Impact on Western Europe</h3></div> The embargo was not uniform across Western Europe. In 1969, France devalued the franc.<a href="#cite_note-FOOTNOTEWunderlich202093-128">[128]</a> The devalued franc made exports more expensive for French consumers, which encouraged them to buy French, while making French more cheaper abroad. France was entirely dependent upon imported oil (through French companies continued to lease the oil concessions in Algeria until 1971). The low price of oil internationally compensated to a certain extent for the higher price of oil caused by the devaluation. The devalued franc ensured that the dramatic price increases caused by the "oil shock" hit the French economy especially hard in 1973.<a href="#cite_note-FOOTNOTEWunderlich202093-128">[128]</a> The UK, Germany, Italy, Switzerland and Norway banned flying, driving and boating on Sundays. Sweden rationed gasoline and heating oil. The Netherlands imposed prison sentences for those who used more than their ration of electricity.<a href="#cite_note-FOOTNOTEFrum2000318-129">[129]</a> Of the nine members of the <a href="/wiki/European_Economic_Community" title="European Economic Community">European Economic Community</a> (EEC), the Netherlands faced a complete embargo. By contrast Britain and France received almost uninterrupted supplies. That was their reward for refusing to allow the US to use their airfields and stopping arms and supplies to both the Arabs and the Israelis. The other six EEC nations faced partial cutbacks. The UK had traditionally been an ally of Israel, and <a href="/wiki/Harold_Wilson" title="Harold Wilson">Harold Wilson</a>'s government supported the Israelis during the Six-Day War. His successor, <a href="/wiki/Edward_Heath" title="Edward Heath">Ted Heath</a>, reversed this policy in 1970, calling for Israel to withdraw to its pre-1967 borders. The EEC was unable to achieve a common policy during the first month of the embargo. It issued a statement on November 6, after the embargo and price rises had begun. It was widely viewed as pro-Arab, supporting the Franco-British line on the war. OPEC duly lifted its embargo from all EEC members. The other European states did not rally in defense of the Dutch who were left to fend for themselves and instead reached bilateral deals with Saudi Arabia, Iraq and Iran.<a href="#cite_note-FOOTNOTEWunderlich202094-130">[130]</a> Faced with a recession, there was a tendency within the EEC nations to turn inwards away from European integration.<a href="#cite_note-FOOTNOTEWunderlich202093-128">[128]</a> The price rises had a much greater impact in Europe than the embargo. The crisis retarded the movement towards European economic integration which had been gathering pace ever since the EEC (now the European Union) had been founded in 1957.<a href="#cite_note-FOOTNOTEWunderlich202093-128">[128]</a> The German historian Jens-Uwe Wunderlich wrote that in 1973 attempts to finish off the European common market came to a "complete standstill" in 1973 and it was not until 1977 that movement towards creating the common market resumed.<a href="#cite_note-FOOTNOTEWunderlich202093–94-131">[131]</a> As the EEC's customs union had made it impossible to raise tariffs against other EEC members, there was a tendency, especially pronounced in France and the United Kingdom, for governments to subside "<a href="/wiki/National_champions" title="National champions">national champions</a>" with selected corporations receiving grants and tax breaks as a response to the crisis.<a href="#cite_note-FOOTNOTEWunderlich202093-128">[128]</a> In particular, the "oil shock" increased the appeal of nuclear energy as a way to achieve "energy independence" from the turbulent Middle East.<a href="#cite_note-FOOTNOTEJasper19903-119">[119]</a> Starting in March 1974 with the "Energy Plan" introduced by the premier <a href="/wiki/Pierre_Messmer" title="Pierre Messmer">Pierre Messmer</a>, the French state made a massive investment in nuclear energy and by the 1990s 80% of all of France's energy came from nuclear plants.<a href="#cite_note-FOOTNOTEJasper19903–4-132">[132]</a> <div class="mw-heading mw-heading3"><h3 id="Impact_on_United_Kingdom">Impact on United Kingdom</h3></div> The North Sea oil fields, which were discovered in 1969, did not start to be exploited until 1975, making the United Kingdom entirely dependent upon imported oil in 1973. The way that world oil prices quadrupled in late 1973 had a very adverse impact on the British economy,.<a href="#cite_note-FOOTNOTESilverwood2021106-133">[133]</a> In a series of speeches in December 1973, the Prime Minister <a href="/wiki/Edward_Heath" title="Edward Heath">Edward Heath</a> warned that because of the "oil shock" that the British economy was going into recession and the British people should expect economic austerity.<a href="#cite_note-FOOTNOTEByrneRandallTheakson2021335-134">[134]</a> The need to avoid importing the now more expensive oil to help manage the balance-of-payments led the Heath government to turn towards coal (which Britain was self-sufficient in) as a substitute source of energy, which gave the coal miners union immense leverage over the government to press for higher wages for the coal miners.<a href="#cite_note-FOOTNOTEDorfman197993-135">[135]</a> Heath offered the coal miners a 7% wage increase, which was rejected as insufficient by the miners who went on strike.<a href="#cite_note-FOOTNOTEDorfman197995-136">[136]</a> Through not subjected to the embargo, the UK nonetheless faced an energy crisis of its own—a series of strikes by coal miners and railroad workers over the winter of 1973–74 became a major factor in the defeat of Heath's Conservative government in <a href="/wiki/February_1974_United_Kingdom_general_election" title="February 1974 United Kingdom general election">February 1974 general elections</a>.<a href="#cite_note-137">[137]</a> The new Labour government told the British to heat only one room in their houses over the winter.<a href="#cite_note-FOOTNOTEFrum2000319-138">[138]</a> The Labour government of Harold Wilson settled the strike by giving the coal miners a 35% pay increase. <div class="mw-heading mw-heading3"><h3 id="Impact_on_Japan">Impact on Japan</h3></div> Japan was hard hit since it imported 90% of its oil from the Middle East. It had a stockpile good for 55 days, and another 20-day supply was en route. Facing its most serious crisis since 1945 the government ordered a 10% cut in the consumption of industrial oil and electricity. In December it ordered an immediate 20% cut in oil use and electric power to Japan's major industries, and cutbacks in leisure automobile usage. Economist predicted the growth rate would plunge from 5% annually down to zero or even negative territory. Inflation hit 9%. Seeking to take advantage of the crisis, Japanese business called on the government to relax its controls on air pollution and water pollution. The government refused. Moscow tried to take advantage by promising energy assistance if Japan renounced its claim to the <a href="/wiki/Kurile_Islands" class="mw-redirect" title="Kurile Islands">Kurile Islands</a>. Tokyo refused. Instead it made $3.3 billion of dollars in loans to the Arab states and called on Israel to step back.<a href="#cite_note-139">[139]</a><a href="#cite_note-140">[140]</a><a href="#cite_note-141">[141]</a> Japan's defensive strategy was explained to Kissinger when he met with top leaders in Tokyo in November 1973.<a href="#cite_note-142">[142]</a> In the long run Japan never wavered in its determination to maintain very strong close ties to the United States, while in self-defense briefly providing the Arab powers with the rhetoric they demanded in return for resuming oil shipments in early 1974.<a href="#cite_note-143">[143]</a> To assure future oil flows, Japan added suppliers outside of the Middle East; invested in nuclear power; imposed conservation measures; and provided funding for Arab governments and the Palestinians.<a href="#cite_note-144">[144]</a> The crisis was a major factor in the long-run shift of Japan's economy away from oil-intensive industries. Investment shifted to electronics. Japanese auto makers also benefited from the crisis. The jump in gasoline prices helped their small, fuel-efficient models to gain market share from the "gas-guzzling" Detroit competition. This triggered a drop in American sales of American brands that lasted into the 1980s.<a href="#cite_note-145">[145]</a> <div class="mw-heading mw-heading3"><h3 id="Impact_on_India">Impact on India</h3></div> The oil crisis contributed to the poor state of the Indian economy and played a role in Indira Gandhi's decision to impose <a href="/wiki/The_Emergency_(India)" title="The Emergency (India)">The Emergency</a>, a dictatorship.<a href="#cite_note-:0-146">[146]</a> The state led a push for coal as an energy source, even though there were reservations about its adverse environmental effects.<a href="#cite_note-:0-146">[146]</a> <div class="mw-heading mw-heading3"><h3 id="Impact_on_South_Vietnam">Impact on South Vietnam</h3></div> The oil shock destroyed the economy of <a href="/wiki/South_Vietnam" title="South Vietnam">South Vietnam</a>. A spokesman for President <a href="/wiki/Nguy%E1%BB%85n_V%C4%83n_Thi%E1%BB%87u" title="Nguyễn Văn Thiệu">Nguyễn Văn Thiệu</a> admitted in a TV interview that the government was being "overwhelmed" by the inflation caused by the oil shock, while an American businessman living in Saigon stated after the oil shock that attempting to make money in South Vietnam was "like making love to a corpse".<a href="#cite_note-147">[147]</a> In December 1973, Vietcong sappers attacked and destroyed the petroleum depot of Nha Be, further depleting fuel sources.<a href="#cite_note-148">[148]</a> By the summer of 1974, the U.S. embassy in Saigon reported that morale in the ARVN (Army of the Republic of Vietnam) had fallen to dangerously low levels and it was uncertain how much more longer South Vietnam would last.<a href="#cite_note-FOOTNOTEKarnow1983660–661-149">[149]</a> As inflation eroded the value of the South Vietnamese đồng, it became common by the summer of 1974 to see ARVN soldiers and their families begging in the streets for food.<a href="#cite_note-FOOTNOTEKarnow1983660–661-149">[149]</a> In December 1974, the North Vietnamese PAVN (People's Army of Vietnam) launched an offensive in the Central Highlands, which far more successful than expected as the ARVN, which was suffering from low morale, put up a feeble resistance. On March 1, 1975, the PAVN launched a major offensive that saw them quickly overrun the Central Highlands and by March 25, 1975, Hue had fallen.<a href="#cite_note-FOOTNOTEKarnow1983664–665-150">[150]</a> Following their victory in the Central Highlands, the North Vietnamese launched the "Ho Chi Minh Campaign" that saw Saigon fall on April 30, 1975. <div class="mw-heading mw-heading3"><h3 id="Impact_on_southern_Africa">Impact on southern Africa</h3></div> Three of the nations targeted by the embargo were located in southern Africa or had colonies there. Portugal which ruled the colonies of Angola, Portuguese Guiana (modern Guinea-Bissau), and Portuguese East Africa (modern Mozambique) had fighting colonial wars in all of its African colonies since the 1960s with Angola being the first to rise up in 1961. Angola is rich in oil, which protected Portugal from the worse of the embargo. But the economic stability of the Estado Novo regime was damaged by the worldwide inflation, which help cause the Carnation Revolution which toppled the Estado Novo regime in April 1974 and led to the restoration of democracy.<a href="#cite_note-FOOTNOTEAccornero2016120-151">[151]</a> Portugal granted independence to all of its colonies except for Macau in 1975. The British historian Rob Skinner wrote the embargo had a "significant impact" on the South African economy.<a href="#cite_note-FOOTNOTESkinner2017117-152">[152]</a> The inflationary rise in commodity prices increased the input costs of South African manufacturing, making South African manufactured goods uncompetitive on the world market.<a href="#cite_note-FOOTNOTESkinner2017117-152">[152]</a> The rise in the price of gold as a hedge against inflation (South Africa has the world's largest gold mines) caused the rand to increase in value, which caused further problems for South African manufacturing.<a href="#cite_note-FOOTNOTESkinner2017117-152">[152]</a> The strategy pursued by the National Party government since 1948 of sponsoring the industrialization of South Africa was derailed by the "oil shock" with what Skinner described as "important social and political consequences" for the apartheid regime.<a href="#cite_note-FOOTNOTESkinner2017117-152">[152]</a> The <a href="/wiki/Soweto_uprising" title="Soweto uprising">Soweto uprising</a> of 1976 was at least in part caused by anger at the high unemployment rate in black South African community.<a href="#cite_note-FOOTNOTESkinner2017117-152">[152]</a> Even worse hit than South Africa was Rhodesia (modern Zimbabwe), where oil was already expensive as the white supremacist government of Rhodesia had been under United Nations sanctions since 1965, and thus the smugglers who sold Rhodesia oil charged a premium for their services.<a href="#cite_note-FOOTNOTEHermeleOdén198818-153">[153]</a> The premium charged by the "sanctions busters" such as Iran increased after the embargo, which threw the Rhodesian economy into recession.<a href="#cite_note-FOOTNOTEHermeleOdén198818-153">[153]</a> Despite the United Nations sanctions, Rhodesia was a major exporter of chrome, steel and tobacco with the United States exempting "strategical" Rhodesian products such as chrome from the sanctions.<a href="#cite_note-FOOTNOTEHermeleOdén198817-154">[154]</a> The global recession of 1973–1975 proved more effective than the United Nations in ending the global demand for Rhodesian products, which made the Rhodesian recession especially severe.<a href="#cite_note-FOOTNOTEHermeleOdén198818-153">[153]</a> Unlike South Africa, which had a sizable and long-standing white population, the white population of Rhodesia was much smaller and more recent. Rhodesia depended considerably more than South Africa on white immigration to provide enough soldiers for its army while most of the Rhodesian whites had only arrived in the 1950s and did not have very deep roots in the country. The "white flight" caused by the recession put the Rhodesian Army at a major disadvantage in its war against the black guerrillas. The war costed the Rhodesian government one million Rhodesian dollars per day by 1975, and the costs of the war threatened to bankrupt Rhodesia.<a href="#cite_note-FOOTNOTEHermeleOdén198819-155">[155]</a> In 1979, Rhodesia signed the Lancaster House Agreement, which led to majority rule in 1980.<a href="#cite_note-FOOTNOTEHermeleOdén198819-155">[155]</a> <div class="mw-heading mw-heading3"><h3 id="Price_controls_and_rationing">Price controls and rationing</h3></div> <div class="mw-heading mw-heading4"><h4 id="United_States">United States</h4></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:FLAG_POLICY_DURING_THE_1973_oil_crisis.gif" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/FLAG_POLICY_DURING_THE_1973_oil_crisis.gif/170px-FLAG_POLICY_DURING_THE_1973_oil_crisis.gif" decoding="async" width="170" height="259" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/FLAG_POLICY_DURING_THE_1973_oil_crisis.gif/255px-FLAG_POLICY_DURING_THE_1973_oil_crisis.gif 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/FLAG_POLICY_DURING_THE_1973_oil_crisis.gif/340px-FLAG_POLICY_DURING_THE_1973_oil_crisis.gif 2x" data-file-width="388" data-file-height="591" /></a><figcaption>Oregon gasoline dealers displayed signs explaining the flag policy in the winter of 1973–74.</figcaption></figure> <a href="/wiki/Price_controls" title="Price controls">Price controls</a> exacerbated the crisis in the US.[<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] The system limited the price of "old oil" (that which had already been discovered) while allowing newly discovered oil to be sold at a higher price to encourage investment. Predictably, old oil was withdrawn from the market, creating greater scarcity. The rule also discouraged development of <a href="/wiki/Alternative_energy" class="mw-redirect" title="Alternative energy">alternative energies</a>.<a href="#cite_note-FOOTNOTEFrum2000313-156">[156]</a> The rule had been intended to promote <a href="/wiki/Oil_exploration" class="mw-redirect" title="Oil exploration">oil exploration</a>.<a href="#cite_note-157">[157]</a> Scarcity was addressed by rationing (as in many countries). Motorists faced long lines at gas stations beginning in summer 1972 and increasing by summer 1973.<a href="#cite_note-FOOTNOTEFrum2000313-156">[156]</a> A sign of the change caused by the crisis was that in 1974 the <a href="/wiki/ExxonMobil" title="ExxonMobil">Exxon</a> oil company (which had once been part of the Standard Oil company) replaced the General Motors corporation to be the largest corporation in the world as measured by gross sales revenues.<a href="#cite_note-FOOTNOTELacey1981404-40">[40]</a> In 1973, Nixon named <a href="/wiki/William_E._Simon" title="William E. Simon">William E. Simon</a> as the first Administrator of the Federal Energy Office, a short-term organization created to coordinate the response to the embargo.<a href="#cite_note-FOOTNOTEFrum2000312-158">[158]</a> Simon allocated states the same amount of domestic oil for 1974 that each had consumed in 1972, which worked for states whose populations were not increasing.<a href="#cite_note-FOOTNOTEFrum2000320-159">[159]</a> In other states, lines at gasoline stations were common. The <a href="/wiki/American_Automobile_Association" title="American Automobile Association">American Automobile Association</a> reported that in the last week of February 1974, 20% of American gasoline stations had no fuel.<a href="#cite_note-FOOTNOTEFrum2000320-159">[159]</a> <a href="/wiki/Odd%E2%80%93even_rationing" title="Odd–even rationing">Odd–even rationing</a> allowed vehicles with <a href="/wiki/License_plate" class="mw-redirect" title="License plate">license plates</a> having an odd number as the last digit (or a <a href="/wiki/Vanity_plate" title="Vanity plate">vanity license plate</a>) to buy gas only on odd-numbered days of the month, while others could buy only on even-numbered days.<a href="#cite_note-160">[160]</a> In some states, a three-color flag system was used to denote gasoline availability at service stations—green for unrationed availability, yellow for restricted/rationed sales and red for out of stock.<a href="#cite_note-161">[161]</a> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:U.S._gas_rationing_stamps_1974.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/99/U.S._gas_rationing_stamps_1974.jpg/220px-U.S._gas_rationing_stamps_1974.jpg" decoding="async" width="220" height="147" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/99/U.S._gas_rationing_stamps_1974.jpg/330px-U.S._gas_rationing_stamps_1974.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/99/U.S._gas_rationing_stamps_1974.jpg/440px-U.S._gas_rationing_stamps_1974.jpg 2x" data-file-width="4498" data-file-height="2999" /></a><figcaption>Gasoline ration stamps printed by the <a href="/wiki/Bureau_of_Engraving_and_Printing" title="Bureau of Engraving and Printing">Bureau of Engraving and Printing</a> in 1974, but not used</figcaption></figure> Rationing led to violent incidents, when truck drivers chose to strike for two days in December 1973 over the limited supplies that Simon had allocated for their industry. In <a href="/wiki/Pennsylvania" title="Pennsylvania">Pennsylvania</a> and <a href="/wiki/Ohio" title="Ohio">Ohio</a>, non-striking truckers were shot at by striking truckers, and in <a href="/wiki/Arkansas" title="Arkansas">Arkansas</a>, trucks of non-strikers were attacked with bombs.<a href="#cite_note-FOOTNOTEFrum2000320-159">[159]</a> America had controlled the price of natural gas since the 1950s. With the inflation of the 1970s, the price was too low to encourage the search for new reserves.<a href="#cite_note-FOOTNOTEFrum2000321-162">[162]</a> America's natural gas reserves dwindled from 237 trillion in 1974 to 203 trillion[<a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify">clarification needed</a>] in 1978. The price controls were not changed, despite president <a href="/wiki/Gerald_Ford" title="Gerald Ford">Gerald Ford</a>'s repeated requests to Congress.<a href="#cite_note-FOOTNOTEFrum2000321-162">[162]</a> <div style="clear:both;" class=""></div> <div class="mw-heading mw-heading3"><h3 id="Conservation_and_reduction_in_demand">Conservation and reduction in demand</h3></div> <div class="mw-heading mw-heading4"><h4 id="United_States_2">United States</h4></div> To help reduce consumption, in 1974 a <a href="/wiki/National_Maximum_Speed_Law" title="National Maximum Speed Law">national maximum speed limit</a> of 55 mph (89 km/h) was imposed through the <a href="/wiki/Emergency_Highway_Energy_Conservation_Act" class="mw-redirect" title="Emergency Highway Energy Conservation Act">Emergency Highway Energy Conservation Act</a>. Development of the <a href="/wiki/Strategic_Petroleum_Reserve_(United_States)" title="Strategic Petroleum Reserve (United States)">Strategic Petroleum Reserve</a> began in 1975, and in 1977 the cabinet-level <a href="/wiki/United_States_Department_of_Energy" title="United States Department of Energy">Department of Energy</a> was created, followed by the <a href="/wiki/National_Energy_Act" title="National Energy Act">National Energy Act</a> of 1978.<a href="#cite_note-163">[163]</a> On November 28, 1995, President <a href="/wiki/Bill_Clinton" title="Bill Clinton">Bill Clinton</a> signed the <a href="/wiki/National_Highway_System_(United_States)#Legislation" title="National Highway System (United States)">National Highway Designation Act</a>, ending the federal 55 mph speed limit which allowed states to restore their prior maximum speed limit.<a href="#cite_note-164">[164]</a> Year-round daylight saving time was implemented from January 6, 1974, to October 27, 1975, with a break between October 27, 1974, and February 23, 1975, when the country observed standard time. Parents complained that it forced many children to travel to school before sunrise. The prior rules were restored in 1976.<a href="#cite_note-165">[165]</a> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Potlatch_gas.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Potlatch_gas.jpg/220px-Potlatch_gas.jpg" decoding="async" width="220" height="147" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Potlatch_gas.jpg/330px-Potlatch_gas.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Potlatch_gas.jpg/440px-Potlatch_gas.jpg 2x" data-file-width="600" data-file-height="401" /></a><figcaption>Gas stations abandoned during the crisis were sometimes used for other purposes. This station at <a href="/wiki/Potlatch,_Washington" title="Potlatch, Washington">Potlatch</a>, Washington, was turned into a <a href="/wiki/Christian_revival" title="Christian revival">revival</a> hall.</figcaption></figure> The crisis prompted a call to conserve energy, most notably a campaign by the <a href="/wiki/Advertising_Council" class="mw-redirect" title="Advertising Council">Advertising Council</a> using the tagline "Don't Be Fuelish".<a href="#cite_note-166">[166]</a> Many newspapers carried advertisements featuring cut-outs that could be attached to light switches, reading "Last Out, Lights Out: Don't Be Fuelish".<a href="#cite_note-167">[167]</a> Although not regulated by the new legislation, auto racing groups voluntarily began conserving. In 1974, <a href="/wiki/NASCAR" title="NASCAR">NASCAR</a> reduced all race distances by 10%;[<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] the <a href="/wiki/24_Hours_of_Daytona" title="24 Hours of Daytona">24 Hours of Daytona</a> and the <a href="/wiki/12_Hours_of_Sebring" title="12 Hours of Sebring">12 Hours of Sebring</a> race were cancelled.<a href="#cite_note-168">[168]</a> In 1975, the <a href="/wiki/Energy_Policy_and_Conservation_Act" title="Energy Policy and Conservation Act">Energy Policy and Conservation Act</a> was passed, leading to the creation of the <a href="/wiki/Corporate_Average_Fuel_Economy" class="mw-redirect" title="Corporate Average Fuel Economy">Corporate Average Fuel Economy</a> (CAFE) standards that required improved fuel economy for cars and light trucks.<a href="#cite_note-169">[169]</a> In 1976, Congress created the <a href="/wiki/Weatherization_Assistance_Program" class="mw-redirect" title="Weatherization Assistance Program">Weatherization Assistance Program</a> to help low-income homeowners and renters reduce their demand for heating and cooling through better <a href="/wiki/Insulation_(for_buildings)" class="mw-redirect" title="Insulation (for buildings)">insulation</a>.<a href="#cite_note-170">[170]</a> By 1980, domestic luxury cars with a 130-inch (3.3 m) <a href="/wiki/Wheelbase" title="Wheelbase">wheelbase</a> and gross weights averaging 4,500 pounds (2,041 kg) were no longer made.[<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] The automakers had begun phasing out the traditional front engine/rear-wheel drive layout in compact cars in favor of lighter front engine/front-wheel drive designs. A higher percentage of cars offered more efficient four-cylinder engines. Domestic auto makers also began offering more fuel efficient diesel powered passenger cars as well. <div class="mw-heading mw-heading3"><h3 id="Alternative_energy_sources">Alternative energy sources</h3></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:WOMEN_USES_HER_HOME_FIREPLACE_FOR_HEAT._A_NEWSPAPER_HEADLINE_BEFORE_HER_TELLS_OF_THE_COMMUNITY%27S_LACK_OF_HEATING_OIL_-_NARA_-_555393.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/57/WOMEN_USES_HER_HOME_FIREPLACE_FOR_HEAT._A_NEWSPAPER_HEADLINE_BEFORE_HER_TELLS_OF_THE_COMMUNITY%27S_LACK_OF_HEATING_OIL_-_NARA_-_555393.jpg/220px-WOMEN_USES_HER_HOME_FIREPLACE_FOR_HEAT._A_NEWSPAPER_HEADLINE_BEFORE_HER_TELLS_OF_THE_COMMUNITY%27S_LACK_OF_HEATING_OIL_-_NARA_-_555393.jpg" decoding="async" width="220" height="325" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/57/WOMEN_USES_HER_HOME_FIREPLACE_FOR_HEAT._A_NEWSPAPER_HEADLINE_BEFORE_HER_TELLS_OF_THE_COMMUNITY%27S_LACK_OF_HEATING_OIL_-_NARA_-_555393.jpg/330px-WOMEN_USES_HER_HOME_FIREPLACE_FOR_HEAT._A_NEWSPAPER_HEADLINE_BEFORE_HER_TELLS_OF_THE_COMMUNITY%27S_LACK_OF_HEATING_OIL_-_NARA_-_555393.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/57/WOMEN_USES_HER_HOME_FIREPLACE_FOR_HEAT._A_NEWSPAPER_HEADLINE_BEFORE_HER_TELLS_OF_THE_COMMUNITY%27S_LACK_OF_HEATING_OIL_-_NARA_-_555393.jpg/440px-WOMEN_USES_HER_HOME_FIREPLACE_FOR_HEAT._A_NEWSPAPER_HEADLINE_BEFORE_HER_TELLS_OF_THE_COMMUNITY%27S_LACK_OF_HEATING_OIL_-_NARA_-_555393.jpg 2x" data-file-width="1353" data-file-height="2000" /></a><figcaption>A woman uses <a href="/wiki/Wood_fuel" title="Wood fuel">wood</a> in a <a href="/wiki/Fireplace" title="Fireplace">fireplace</a> for heat. A newspaper headline before her tells of the community's lack of heating oil.</figcaption></figure> The energy crisis led to greater interest in renewable energy, nuclear power and domestic fossil fuels.<a href="#cite_note-GT-DEX-1973-00-171">[171]</a> According to Peter Grossman, American energy policies since the crisis have been dominated by crisis-mentality thinking, promoting expensive quick fixes and single-shot solutions that ignore market and technology realities. He wrote that instead of providing stable rules that support basic research while leaving plenty of scope for entrepreneurship and innovation, Congresses and presidents have repeatedly backed policies which promise solutions that are politically expedient, but whose prospects are doubtful.<a href="#cite_note-172">[172]</a> The Brazilian government implemented its "<a href="/wiki/Pro%C3%A1lcool" class="mw-redirect" title="Proálcool">Proálcool</a>" (pro-alcohol) project in 1975 that mixed <a href="/wiki/Ethanol" title="Ethanol">ethanol</a> with gasoline for automotive fuel.<a href="#cite_note-Bastos-173">[173]</a> Israel was one of the few countries unaffected by the embargo, since it could extract sufficient oil from the Sinai. But to supplement Israel's over-taxed power grid, <a href="/wiki/Harry_Zvi_Tabor" title="Harry Zvi Tabor">Harry Zvi Tabor</a>, the father of <a href="/wiki/Solar_power_in_Israel" title="Solar power in Israel">Israel's solar industry</a>, developed the prototype for a <a href="/wiki/Solar_water_heater" class="mw-redirect" title="Solar water heater">solar water heater</a> now used in over 90% of Israeli homes.<a href="#cite_note-BW-174">[174]</a> <div class="mw-heading mw-heading3"><h3 id="Macroeconomy">Macroeconomy</h3></div> Western central banks decided to sharply cut interest rates to encourage growth, deciding that inflation was a secondary concern. Although this was the orthodox macroeconomic prescription at the time, the resulting <a href="/wiki/Stagflation" title="Stagflation">stagflation</a> surprised economists and central bankers. The policy is now considered by some to have deepened and lengthened the adverse effects of the embargo. Recent research claims that in the period after 1985 the economy became more resilient to energy price increases.<a href="#cite_note-175">[175]</a> The price shock created large current account deficits in oil-importing economies. A <a href="/wiki/Petrodollar_recycling" title="Petrodollar recycling">petrodollar recycling</a> mechanism was created, through which OPEC surplus funds were channeled through the capital markets to the West to finance the current account deficits. The functioning of this mechanism required the relaxation of <a href="/wiki/Capital_controls" class="mw-redirect" title="Capital controls">capital controls</a> in oil-importing economies. It marked the beginning of an exponential growth of Western <a href="/wiki/Capital_markets" class="mw-redirect" title="Capital markets">capital markets</a>.<a href="#cite_note-FOOTNOTEMasouros201360–62-176">[176]</a> In the United States in 1974, seven of the 15 top Fortune 500 companies were oil companies, falling to four in 2014.<a href="#cite_note-177">[177]</a> <div class="mw-heading mw-heading3"><h3 id="International_relations">International relations</h3></div> The crisis had a major impact on international relations and created a rift within NATO. Some European nations and Japan sought to disassociate themselves from <a href="/wiki/United_States_foreign_policy_in_the_Middle_East" title="United States foreign policy in the Middle East">United States foreign policy in the Middle East</a> to avoid being targeted by the boycott. Arab oil producers linked any future policy changes to peace between the belligerents. To address this, the Nixon Administration began multilateral negotiations with the combatants. They arranged for Israel to pull back from the <a href="/wiki/Sinai_Peninsula" title="Sinai Peninsula">Sinai Peninsula</a> and the <a href="/wiki/Golan_Heights" title="Golan Heights">Golan Heights</a>. By January 18, 1974, <a href="/wiki/US_Secretary_of_State" class="mw-redirect" title="US Secretary of State">US Secretary of State</a> <a href="/wiki/Henry_Kissinger" title="Henry Kissinger">Henry Kissinger</a> had negotiated an Israeli troop withdrawal from parts of the Sinai Peninsula. The promise of a negotiated settlement between Israel and Syria was enough to convince Arab oil producers to lift the embargo in March 1974.<a href="#cite_note-USstate2ndCrisis-3">[3]</a> and again during the <a href="/wiki/1979_energy_crisis" class="mw-redirect" title="1979 energy crisis">1979 energy crisis</a>. <div class="mw-heading mw-heading4"><h4 id="United_States_3">United States</h4></div> America's Cold War policies suffered a major blow from the embargo. They had focused on China and the Soviet Union, but the latent challenge to US hegemony coming from the <a href="/wiki/Third_World" title="Third World">Third World</a> became evident. In 2004, declassified documents revealed that the US was so distraught by the rise in oil prices and being challenged by under-developed countries that they briefly considered military action to forcibly seize Middle Eastern oilfields in late 1973. Although no explicit plan was mentioned, a conversation between <a href="/wiki/U.S._Secretary_of_Defense" class="mw-redirect" title="U.S. Secretary of Defense">U.S. Secretary of Defense</a> <a href="/wiki/James_Schlesinger" class="mw-redirect" title="James Schlesinger">James Schlesinger</a> and <a href="/wiki/British_Ambassador_to_the_United_States" class="mw-redirect" title="British Ambassador to the United States">British Ambassador to the United States</a> <a href="/wiki/Rowland_Baring,_3rd_Earl_of_Cromer" title="Rowland Baring, 3rd Earl of Cromer">Lord Cromer</a> revealed Schlesinger had told him that "it was no longer obvious to him that the U.S. could not use force." British Prime Minister <a href="/wiki/Edward_Heath" title="Edward Heath">Edward Heath</a> was so worried by this prospect that he ordered a British intelligence estimate of US intentions, which concluded that America "might consider it could not tolerate a situation in which the U.S. and its allies were at the mercy of a small group of unreasonable countries", and that they would prefer a rapid operation to seize oilfields in Saudi Arabia and Kuwait, and possibly Abu Dhabi if military action was decided upon. Although the Soviet response to such an act would likely not involve force, intelligence warned "the American occupation would need to last 10 years as the West developed alternative energy sources, and would result in the 'total alienation' of the Arabs and much of the rest of the Third World."<a href="#cite_note-178">[178]</a> <div class="mw-heading mw-heading4"><h4 id="NATO">NATO</h4></div> Western Europe began switching from pro-Israel to more pro-Arab policies.<a href="#cite_note-179">[179]</a><a href="#cite_note-180">[180]</a><a href="#cite_note-181">[181]</a> This change strained the Western alliance. The US, which imported only 12% of its oil from the Middle East (compared with 80% for the Europeans and over 90% for Japan), remained staunchly committed to Israel. The percentage of US oil which comes from the nations bordering the Persian Gulf remained steady over the decades, with a figure of a little more than 10% in 2008.<a href="#cite_note-182">[182]</a> With the embargo in place, many developed countries altered their policies regarding the Arab-Israeli conflict. These included the UK, which refused to allow the United States to use British bases and <a href="/wiki/Cyprus" title="Cyprus">Cyprus</a> to airlift resupplies to Israel, along with the rest of the members of the <a href="/wiki/European_Community" class="mw-redirect" title="European Community">European Community</a>.<a href="#cite_note-FOOTNOTELicklider1988216-183">[183]</a> Canada shifted towards a more pro-Arab position after displeasure was expressed towards Canada's mostly neutral position. "On the other hand, after the embargo the Canadian government moved quickly indeed toward the Arab position, despite its low dependence on Middle Eastern oil".<a href="#cite_note-FOOTNOTELicklider1988214-184">[184]</a> <div class="mw-heading mw-heading4"><h4 id="Japan">Japan</h4></div> Although lacking historical connections to the Middle East, Japan was the country most dependent on Arab oil. 71% of its imported oil came from the Middle East in 1970. On November 7, 1973, the Saudi and Kuwaiti governments declared Japan a "nonfriendly" country to encourage it to change its noninvolvement policy. It received a 5% production cut in December, causing a panic. On November 22, Japan issued a statement "asserting that Israel should withdraw from all of the 1967 territories, advocating Palestinian self-determination, and threatening to reconsider its policy toward Israel if Israel refused to accept these preconditions".<a href="#cite_note-FOOTNOTELicklider1988214-184">[184]</a> By December 25, Japan was considered an Arab-friendly state. <div class="mw-heading mw-heading4"><h4 id="Nonaligned_nations">Nonaligned nations</h4></div> The oil embargo was announced roughly one month after a <a href="/wiki/1973_Chilean_coup_d%27%C3%A9tat" title="1973 Chilean coup d'état">right-wing military coup</a> in <a href="/wiki/Chile" title="Chile">Chile</a> led by General <a href="/wiki/Augusto_Pinochet" title="Augusto Pinochet">Augusto Pinochet</a> toppled socialist president <a href="/wiki/Salvador_Allende" title="Salvador Allende">Salvador Allende</a> on September 11, 1973. The response of the Nixon administration was to propose doubling arms sales. As a consequence, an opposing Latin American bloc was organized and financed in part by Venezuelan oil revenues, which quadrupled between 1970 and 1975. A year after the start of the embargo, the UN's nonaligned bloc passed a resolution demanding the creation of a "<a href="/wiki/New_International_Economic_Order" title="New International Economic Order">New International Economic Order</a>" under which nations within the global South would receive a greater share of benefits derived from the exploitation of southern resources and greater control over their self-development.<a href="#cite_note-185">[185]</a> <div class="mw-heading mw-heading4"><h4 id="Arab_states">Arab states</h4></div> Prior to the embargo, the geo-political competition between the Soviet Union and the United States, in combination with low oil prices that hindered the necessity and feasibility of alternative energy sources, presented the Arab States with financial security, moderate economic growth, and disproportionate international bargaining power.<a href="#cite_note-186">[186]</a> The oil shock disrupted the status quo relationships between Arab countries and the US and USSR. At the time, Egypt, Syria and Iraq were allied with the USSR, while Saudi Arabia, Turkey and Iran (plus Israel) aligned with the US. Vacillations in alignment often resulted in greater support from the respective superpowers. When <a href="/wiki/Anwar_Sadat" title="Anwar Sadat">Anwar Sadat</a> became president of Egypt in 1970, he dismissed Soviet specialists in Egypt and reoriented towards the US. Concerns over economic domination from increased Soviet oil production turned into fears of military aggression after the <a href="/wiki/Soviet%E2%80%93Afghan_War" title="Soviet–Afghan War">1979 Soviet invasion of Afghanistan</a>—a major turning point in Cold War geopolitics<a href="#cite_note-187">[187]</a> -, turning the Persian Gulf states towards the US for security guarantees against Soviet military action, also coming at a time marked by increased American weapons sales, technology, and outright military presence to various US-allied nations. Saudi Arabia and Iran became increasingly dependent on American security assurances to manage both external and internal threats, including increased military competition between them over increased oil revenues. Both states were competing for preeminence in the <a href="/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a> and using increased revenues to fund expanded militaries. By 1979, Saudi arms purchases from the US exceeded five times Israel's.<a href="#cite_note-188">[188]</a> In the wake of the 1979 <a href="/wiki/Iranian_Revolution" class="mw-redirect" title="Iranian Revolution">Iranian Revolution</a> the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of <a href="/wiki/Islamism" title="Islamism">Islamism</a>, a reality which would quickly be revealed in the <a href="/wiki/Grand_Mosque_seizure" title="Grand Mosque seizure">Grand Mosque seizure</a> in Mecca by <a href="/wiki/Wahhabi" class="mw-redirect" title="Wahhabi">Wahhabi</a> extremists during November 1979, and a Shiite Muslim revolt in the oil rich <a href="/wiki/Al-Ahsa_Oasis" title="Al-Ahsa Oasis">Al-Hasa</a> region of Saudi Arabia in December of the same year, which was known as the <a href="/wiki/1979_Qatif_Uprising" title="1979 Qatif Uprising">1979 Qatif Uprising</a>.<a href="#cite_note-189">[189]</a> <a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> is a near-absolute monarchy, an Arabic speaking country, and has a <a href="/wiki/Sunni" class="mw-redirect" title="Sunni">Sunni</a> Muslim majority, while Persian speaking <a href="/wiki/Iran" title="Iran">Iran</a> since 1979 is an Islamist theocracy with a <a href="/wiki/Shiite" class="mw-redirect" title="Shiite">Shiite</a> Muslim majority, which explains the current hostility between Saudi Arabia and Iran.<a href="#cite_note-190">[190]</a> Before the Iranian Revolution the usually <a href="/wiki/Pro-American" class="mw-redirect" title="Pro-American">pro-American</a>, <a href="/wiki/Anti-communist" class="mw-redirect" title="Anti-communist">anti-communist</a> and largely Sunni Muslim Saudi Arabians were somewhat wary of the <a href="/wiki/Iraq%E2%80%93Russia_relations" title="Iraq–Russia relations">pro-Soviet relations</a> held by the <a href="/wiki/Ba%27athism" title="Ba'athism">Ba'athist</a> socialist and relatively secularist republican dictatorship of Iraq, the latter of which is a majority Shiite Muslim Arab nation which was ruled by a Sunni Muslim Arab minority before the <a href="/wiki/Iraq_War" title="Iraq War">Iraq War</a>, and how that affected the Saudis' own <a href="/wiki/Iraq%E2%80%93Saudi_Arabia_relations" title="Iraq–Saudi Arabia relations">relations with the Iraqis</a>, because these two oil-rich Arab nations share a long land border with each other.<a href="#cite_note-191">[191]</a> <div class="mw-heading mw-heading3"><h3 id="Automobile_industry">Automobile industry</h3></div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output 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.mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-More_citations_needed plainlinks metadata ambox ambox-content ambox-Refimprove" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><a href="/wiki/File:Question_book-new.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></div></td><td class="mbox-text"><div class="mbox-text-span">This section needs additional citations for <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">verification</a>. Please help <a href="/wiki/Special:EditPage/1973_oil_crisis" title="Special:EditPage/1973 oil crisis">improve this article</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a> in this section. Unsourced material may be challenged and removed. Find sources: <a rel="nofollow" class="external text" href="https://www.google.com/search?as_eq=wikipedia&q=%221973+oil+crisis%22">"1973 oil crisis"</a> – <a rel="nofollow" class="external text" href="https://www.google.com/search?tbm=nws&q=%221973+oil+crisis%22+-wikipedia&tbs=ar:1">news</a> · <a rel="nofollow" class="external text" href="https://www.google.com/search?&q=%221973+oil+crisis%22&tbs=bkt:s&tbm=bks">newspapers</a> · <a rel="nofollow" class="external text" href="https://www.google.com/search?tbs=bks:1&q=%221973+oil+crisis%22+-wikipedia">books</a> · <a rel="nofollow" class="external text" href="https://scholar.google.com/scholar?q=%221973+oil+crisis%22">scholar</a> · <a rel="nofollow" class="external text" href="https://www.jstor.org/action/doBasicSearch?Query=%221973+oil+crisis%22&acc=on&wc=on">JSTOR</a> (October 2017) (<a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a>)</div></td></tr></tbody></table> The oil crisis sent a signal to the auto industry globally, which changed many aspects of production and usage for decades to come. <div class="mw-heading mw-heading4"><h4 id="Western_Europe">Western Europe</h4></div> After World War II, most West European countries taxed motor fuel to limit imports, and as a result most cars made in Europe were smaller and more economical than their American counterparts. By the late 1960s, increasing incomes supported rising car sizes. The oil crisis pushed West European car buyers away from larger, less economical cars.<a href="#cite_note-192">[192]</a> The most notable result of this transition was the rise in popularity of compact <a href="/wiki/Hatchback" title="Hatchback">hatchbacks</a>. The only notable small hatchbacks built in Western Europe before the oil crisis were the <a href="/wiki/Peugeot_104" title="Peugeot 104">Peugeot 104</a>, <a href="/wiki/Renault_5" title="Renault 5">Renault 5</a> and <a href="/wiki/Fiat_127" title="Fiat 127">Fiat 127</a>. By the end of the decade, the market had expanded with the introduction of the <a href="/wiki/Ford_Fiesta" title="Ford Fiesta">Ford Fiesta</a>, <a href="/wiki/Opel_Kadett" title="Opel Kadett">Opel Kadett</a> (sold as the <a href="/wiki/Vauxhall_Astra" title="Vauxhall Astra">Vauxhall Astra</a> in Great Britain), <a href="/wiki/Chrysler_Sunbeam" title="Chrysler Sunbeam">Chrysler Sunbeam</a> and <a href="/wiki/Citro%C3%ABn_Visa" title="Citroën Visa">Citroën Visa</a>. Buyers looking for larger cars were increasingly drawn to medium-sized hatchbacks. Virtually unknown in Europe in 1973, by the end of the decade they were gradually replacing <a href="/wiki/Sedan_(automobile)" title="Sedan (automobile)">sedans</a> as the mainstay of this sector. Between 1973 and 1980, medium-sized hatchbacks were launched across Europe: the <a href="/wiki/Chrysler_Horizon" title="Chrysler Horizon">Chrysler/Simca Horizon</a>, <a href="/wiki/Fiat_Ritmo" title="Fiat Ritmo">Fiat Ritmo</a> (Strada in the UK), <a href="/wiki/Ford_Escort_(Europe)" title="Ford Escort (Europe)">Ford Escort MK3</a>, <a href="/wiki/Renault_14" title="Renault 14">Renault 14</a>, <a href="/wiki/Volvo_300_Series" title="Volvo 300 Series">Volvo 340 / 360</a>, <a href="/wiki/Opel_Kadett" title="Opel Kadett">Opel Kadett</a>, and <a href="/wiki/Volkswagen_Golf" title="Volkswagen Golf">Volkswagen Golf</a>. These cars were considerably more economical than the traditional <a href="/wiki/Saloon_(car)" class="mw-redirect" title="Saloon (car)">saloons</a> they were replacing, and attracted buyers who traditionally bought larger vehicles. Some 15 years after the oil crisis, hatchbacks dominated most European small and medium car markets, and had gained a substantial share of the large family car market. <div class="mw-heading mw-heading4"><h4 id="United_States_4">United States</h4></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Malaise_era" title="Malaise era">Malaise era</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Automotive_industry_in_the_United_States" title="Automotive industry in the United States">Automotive industry in the United States</a></div> Before the energy crisis, large, heavy, and powerful cars were popular. By 1971, the standard engine in a <a href="/wiki/Chevrolet_Caprice#1969–1970" title="Chevrolet Caprice">Chevrolet Caprice</a> was a 400-cubic inch (6.5 liter) V8. The wheelbase of this car was 121.5 inches (3,090 mm), and Motor Trend's 1972 road test of the similar <a href="/wiki/Chevrolet_Impala" title="Chevrolet Impala">Chevrolet Impala</a> achieved no more than 15 highway miles per gallon. In the 15 years prior to the 1973 oil crisis, gasoline prices in the U.S. had lagged well behind inflation.<a href="#cite_note-gpcutinf-193">[193]</a> The crisis reduced the demand for large cars.<a href="#cite_note-FOOTNOTEFrum2000321-162">[162]</a> Japanese imports, primarily the <a href="/wiki/Toyota_Corona" title="Toyota Corona">Toyota Corona</a>, the <a href="/wiki/Toyota_Corolla" title="Toyota Corolla">Toyota Corolla</a>, the <a href="/wiki/Datsun_B210" class="mw-redirect" title="Datsun B210">Datsun B210</a>, the <a href="/wiki/Datsun_510" title="Datsun 510">Datsun 510</a>, the <a href="/wiki/Honda_Civic_(first_generation)" title="Honda Civic (first generation)">Honda Civic</a>, the <a href="/wiki/Mitsubishi_Galant" title="Mitsubishi Galant">Mitsubishi Galant</a> (a captive import from Chrysler sold as the <a href="/wiki/Dodge_Colt" title="Dodge Colt">Dodge Colt</a>), the <a href="/wiki/Subaru_Leone" title="Subaru Leone">Subaru DL</a>, and later the <a href="/wiki/Honda_Accord" title="Honda Accord">Honda Accord</a> all had <a href="/wiki/Straight_4" class="mw-redirect" title="Straight 4">four cylinder engines</a> that were more fuel efficient than the typical American <a href="/wiki/V8_engine" title="V8 engine">V8</a> and <a href="/wiki/Straight_6" class="mw-redirect" title="Straight 6">six cylinder engines</a>. Japanese imports became mass-market leaders with <a href="/wiki/Unibody" class="mw-redirect" title="Unibody">unibody</a> construction and front-wheel drive, which became <a href="/wiki/De_facto_standard" title="De facto standard">de facto standards</a>. From Europe, the <a href="/wiki/Volkswagen_Beetle" title="Volkswagen Beetle">Volkswagen Beetle</a>, the <a href="/wiki/Volkswagen_Type_3" title="Volkswagen Type 3">Volkswagen Fastback</a>, the <a href="/wiki/Renault_8" title="Renault 8">Renault 8</a>, the <a href="/wiki/Renault_5" title="Renault 5">Renault LeCar</a>, and the <a href="/wiki/Fiat_131" title="Fiat 131">Fiat Brava</a> were successful. Detroit responded with the <a href="/wiki/Ford_Pinto" title="Ford Pinto">Ford Pinto</a>, the <a href="/wiki/Ford_Maverick_(Americas)" class="mw-redirect" title="Ford Maverick (Americas)">Ford Maverick</a>, the <a href="/wiki/GM_H_platform_(RWD)" class="mw-redirect" title="GM H platform (RWD)">Chevrolet Vega</a>, the <a href="/wiki/GM_X_platform_(RWD)" class="mw-redirect" title="GM X platform (RWD)">Chevrolet Nova</a>, the <a href="/wiki/Chrysler_A_platform" title="Chrysler A platform">Plymouth Valiant</a> and the <a href="/wiki/Chrysler_F_platform" title="Chrysler F platform">Plymouth Volaré</a>. American Motors sold its homegrown <a href="/wiki/AMC_Gremlin" title="AMC Gremlin">Gremlin</a>, <a href="/wiki/AMC_Hornet" title="AMC Hornet">Hornet</a> and <a href="/wiki/AMC_Pacer" title="AMC Pacer">Pacer</a> models. Some buyers lamented the small size of the first Japanese compacts, and both Toyota and Nissan (then known as Datsun) introduced larger cars such as the <a href="/wiki/Toyota_Corona_Mark_II" class="mw-redirect" title="Toyota Corona Mark II">Toyota Corona Mark II</a>, the <a href="/wiki/Toyota_Cressida" class="mw-redirect" title="Toyota Cressida">Toyota Cressida</a>, the <a href="/wiki/Mazda_Capella#616/618_(USA)" title="Mazda Capella">Mazda 616</a> and <a href="/wiki/Datsun_810" title="Datsun 810">Datsun 810</a>, which added passenger space and amenities such as air conditioning, power steering, AM-FM radios, and even power windows and central locking without increasing the price of the vehicle. A decade after the 1973 oil crisis, Honda, Toyota and Nissan, affected by the 1981 <a href="/wiki/Voluntary_export_restraints" class="mw-redirect" title="Voluntary export restraints">voluntary export restraints</a>, opened US assembly plants and established their luxury divisions (Acura, Lexus and Infiniti, respectively) to distinguish themselves from their mass-market brands. Compact trucks were introduced, such as the <a href="/wiki/Toyota_Hilux" title="Toyota Hilux">Toyota Hilux</a> and the <a href="/wiki/Datsun_Truck" class="mw-redirect" title="Datsun Truck">Datsun Truck</a>, followed by the <a href="/wiki/Mazda_B-Series_(North_America)" class="mw-redirect" title="Mazda B-Series (North America)">Mazda Truck</a> (sold as the <a href="/wiki/Ford_Courier" title="Ford Courier">Ford Courier</a>), and the Isuzu-built <a href="/wiki/Chevrolet_LUV" title="Chevrolet LUV">Chevrolet LUV</a>. Mitsubishi rebranded its <a href="/wiki/Mitsubishi_Triton" title="Mitsubishi Triton">Forte</a> as the <a href="/wiki/Mitsubishi_Triton" title="Mitsubishi Triton">Dodge D-50</a> a few years after the oil crisis. Mazda, Mitsubishi and Isuzu had joint partnerships with Ford, Chrysler, and GM, respectively. Later, the American makers introduced their domestic replacements (Ford Ranger, Dodge Dakota and the Chevrolet S10/GMC S-15), ending their <a href="/wiki/Captive_import" title="Captive import">captive import</a> policy. An increase in imported cars into North America forced General Motors, Ford and Chrysler to introduce smaller and fuel-efficient models for domestic sales. The <a href="/wiki/Dodge_Omni" title="Dodge Omni">Dodge Omni</a> / <a href="/wiki/Plymouth_Horizon" class="mw-redirect" title="Plymouth Horizon">Plymouth Horizon</a> from Chrysler, the <a href="/wiki/Ford_Fiesta" title="Ford Fiesta">Ford Fiesta</a> and the <a href="/wiki/Chevrolet_Chevette" title="Chevrolet Chevette">Chevrolet Chevette</a> all had four-cylinder engines and room for at least four passengers by the late 1970s. By 1985, the average American vehicle moved 17.4 miles per gallon, compared to 13.5 in 1970. The improvements stayed, even though the price of a barrel of oil remained constant at $12 from 1974 to 1979.<a href="#cite_note-FOOTNOTEFrum2000321-162">[162]</a> Sales of large sedans for most makes (except <a href="/wiki/Chrysler" title="Chrysler">Chrysler</a> products) recovered within two model years of the 1973 crisis. The <a href="/wiki/Cadillac_DeVille" class="mw-redirect" title="Cadillac DeVille">Cadillac DeVille</a> and <a href="/wiki/Cadillac_Fleetwood_Brougham" title="Cadillac Fleetwood Brougham">Fleetwood</a>, <a href="/wiki/Buick_Electra" title="Buick Electra">Buick Electra</a>, <a href="/wiki/Oldsmobile_98" title="Oldsmobile 98">Oldsmobile 98</a>, <a href="/wiki/Lincoln_Continental" title="Lincoln Continental">Lincoln Continental</a>, <a href="/wiki/Mercury_Marquis" title="Mercury Marquis">Mercury Marquis</a>, and various other luxury oriented sedans became popular again in the mid-1970s. The only full-size models that did not recover were lower price models such as the <a href="/wiki/Chevrolet_Bel_Air" title="Chevrolet Bel Air">Chevrolet Bel Air</a> and <a href="/wiki/Ford_Galaxie_500" class="mw-redirect" title="Ford Galaxie 500">Ford Galaxie 500</a>. Slightly smaller models such as the <a href="/wiki/Oldsmobile_Cutlass" title="Oldsmobile Cutlass">Oldsmobile Cutlass</a>, <a href="/wiki/Chevrolet_Monte_Carlo" title="Chevrolet Monte Carlo">Chevrolet Monte Carlo</a>, <a href="/wiki/Ford_Thunderbird" title="Ford Thunderbird">Ford Thunderbird</a> and various others sold well. Economical imports succeeded alongside heavy, expensive vehicles. In 1976, Toyota sold 346,920 cars (average weight around 2,100 lbs), while Cadillac sold 309,139 cars (average weight around 5,000 lbs). Federal safety standards, such as NHTSA Federal Motor Vehicle Safety Standard 215 (pertaining to safety bumpers), and compacts like the 1974 Mustang I were a prelude to the DOT "downsize" revision of vehicle categories.<a href="#cite_note-194">[194]</a> By 1977, GM's full-sized cars reflected the crisis.<a href="#cite_note-Collectible_Automobile-195">[195]</a> By 1979, virtually all "full-size" American cars had shrunk, featuring smaller engines and smaller outside dimensions. <a href="/wiki/Chrysler_Corporation" class="mw-redirect" title="Chrysler Corporation">Chrysler</a> ended production of their full-sized luxury sedans at the end of the 1981 model year, moving instead to a full <a href="/wiki/Front-wheel_drive" title="Front-wheel drive">front-wheel drive</a> lineup for 1982 (except for the <a href="/wiki/Chrysler_M_platform" title="Chrysler M platform">M-body</a> <a href="/wiki/Dodge_Diplomat" title="Dodge Diplomat">Dodge Diplomat</a>/<a href="/wiki/Plymouth_Gran_Fury" title="Plymouth Gran Fury">Plymouth Gran Fury</a> and <a href="/wiki/Chrysler_New_Yorker_Fifth_Avenue" class="mw-redirect" title="Chrysler New Yorker Fifth Avenue">Chrysler New Yorker Fifth Avenue</a> sedans). <div class="mw-heading mw-heading2"><h2 id="Consequences">Consequences</h2></div> <div class="mw-heading mw-heading3"><h3 id="Decline_of_OPEC">Decline of OPEC</h3></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></div> OPEC soon lost its preeminent position, and in 1981, its production was surpassed by that of other countries. Additionally, its own member nations were divided. Saudi Arabia, trying to recover market share, increased production, pushing prices down, shrinking or eliminating profits for high-cost producers. The world price, which had peaked during the <a href="/wiki/1979_energy_crisis" class="mw-redirect" title="1979 energy crisis">1979 energy crisis</a> at nearly $40 per barrel, decreased during the 1980s to less than $10 per barrel. Adjusted for inflation, oil briefly fell back to pre-1973 levels. This "sale" price was a windfall for oil-importing nations, both developing and developed. During the <a href="/wiki/Iran-Iraq_war" class="mw-redirect" title="Iran-Iraq war">Iran-Iraq war</a> of 1980–1988, the stated war aim of Iran was to overthrow the Baath regime in Iraq and then overthrow the House of Saud in Saudi Arabia.<a href="#cite_note-FOOTNOTEBullochMorris1989163-196">[196]</a> As a consequence, Saudi Arabia and the other Arab Gulf states leaned in a very pro-Iraqi neutrality during the war.<a href="#cite_note-FOOTNOTEBullochMorris1989163-196">[196]</a> As a part of its policy of supporting Iraq, Saudi Arabia pumped out oil in massive quantities to lower the price as a way of hurting Iran's economy.<a href="#cite_note-FOOTNOTEBrogan1990252-197">[197]</a> The low price of oil also hurt Iraq's economy, which forced Iraq to borrow massive sums of money, putting Iraq deeply into debt; by contrast, Iran refused to borrow any money because of its refusal to pay interest on any loans and paid the costs of the war direct from the sale of its oil.<a href="#cite_note-FOOTNOTEBrogan1990252-197">[197]</a> Iran's revenue from the sale of oil went from $20 billion US dollars per year in 1982 to $5 billion US dollars per year by 1988, which pushed Iran to the verge of bankruptcy and forced Iran to finally make peace with Iraq later in 1988.<a href="#cite_note-FOOTNOTEBrogan1990252-197">[197]</a> During the war, the Iranian delegation at OPEC tried very hard to have the group cut production to raise prices, but were blocked by the other delegations led by the Saudi delegation, who insisted on more oil production.<a href="#cite_note-FOOTNOTEBrogan1990252-197">[197]</a> <div class="mw-heading mw-heading3"><h3 id="Oil_sources_diversification">Oil sources diversification</h3></div> The embargo encouraged new venues for energy exploration, including Alaska, the <a href="/wiki/North_Sea" title="North Sea">North Sea</a>, the <a href="/wiki/Caspian_Sea" title="Caspian Sea">Caspian Sea</a>, and the <a href="/wiki/Caucasus" title="Caucasus">Caucasus</a>.<a href="#cite_note-198">[198]</a> Exploration in the <a href="/wiki/Caspian_Sea" title="Caspian Sea">Caspian Basin</a> and Siberia became profitable. Cooperation changed into a far more adversarial relationship as the USSR increased its production. By 1980, the Soviet Union had become the world's largest producer.<a href="#cite_note-199">[199]</a><a href="#cite_note-200">[200]</a> Part of the decline in prices and economic and geopolitical power of OPEC came from the move to alternative energy sources. OPEC had relied on <a href="/wiki/Price_elasticity_of_demand" title="Price elasticity of demand">price inelasticity</a><a href="#cite_note-201">[201]</a> to maintain high consumption, but had underestimated the extent to which conservation and other sources of supply would eventually reduce demand. <a href="/wiki/Electricity_generation" title="Electricity generation">Electricity generation</a> from <a href="/wiki/Nuclear_power" title="Nuclear power">nuclear power</a> and <a href="/wiki/Natural_gas" title="Natural gas">natural gas</a>, home heating from natural gas, and <a href="/wiki/Ethanol" title="Ethanol">ethanol</a>-blended gasoline all reduced the demand for oil. <div class="mw-heading mw-heading3"><h3 id="Economic_impact">Economic impact</h3></div> The drop in prices presented a serious problem for oil-exporting countries in northern Europe and the <a href="/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a>. Heavily populated, impoverished countries, whose economies were largely dependent on oil—including <a href="/wiki/Mexico" title="Mexico">Mexico</a>, <a href="/wiki/Nigeria" title="Nigeria">Nigeria</a>, <a href="/wiki/Algeria" title="Algeria">Algeria</a>, and <a href="/wiki/Libya" title="Libya">Libya</a>—did not prepare for a market reversal that left them in sometimes desperate situations. When reduced demand and increased production glutted the world market in the mid-1980s, oil prices plummeted and the cartel lost its unity. Mexico (a non-member), Nigeria, and <a href="/wiki/Venezuela" title="Venezuela">Venezuela</a>, whose economies had expanded in the 1970s, faced near-bankruptcy, and even Saudi Arabian economic power was significantly weakened. The divisions within OPEC made concerted action more difficult. As of 2015<a class="external text" href="https://en.wikipedia.org/w/index.php?title=1973_oil_crisis&action=edit">[update]</a>, OPEC has never approached its earlier dominance. <div class="mw-heading mw-heading2"><h2 id="Graphs_and_charts">Graphs and charts</h2></div> <ul class="gallery mw-gallery-traditional"> <li class="gallerybox" style="width: 155px"> <div class="thumb" style="width: 150px; height: 150px;"><a href="/wiki/File:Oil_Prices_Since_1861.svg" class="mw-file-description" title="Graph of oil prices from 1861 to 2015, showing a sharp increase in 1973 and again during the 1979 energy crisis. The orange line is adjusted for inflation."><img alt="Graph of oil prices from 1861 to 2015, showing a sharp increase in 1973 and again during the 1979 energy crisis. The orange line is adjusted for inflation." src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Oil_Prices_Since_1861.svg/120px-Oil_Prices_Since_1861.svg.png" decoding="async" width="120" height="34" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Oil_Prices_Since_1861.svg/180px-Oil_Prices_Since_1861.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Oil_Prices_Since_1861.svg/240px-Oil_Prices_Since_1861.svg.png 2x" data-file-width="1450" data-file-height="414" /></a></div> <div class="gallerytext">Graph of oil prices from 1861 to 2015, showing a sharp increase in 1973 and again during the <a href="/wiki/1979_energy_crisis" class="mw-redirect" title="1979 energy crisis">1979 energy crisis</a>. The orange line is <a href="/wiki/Real_versus_nominal_value_(economics)" class="mw-redirect" title="Real versus nominal value (economics)">adjusted for inflation</a>.</div> </li> <li class="gallerybox" style="width: 155px"> <div class="thumb" style="width: 150px; height: 150px;"><a href="/wiki/File:Opecrev.gif" class="mw-file-description" title="Fluctuations of OPEC net oil export revenues since 1972[202][203]"><img alt="Fluctuations of OPEC net oil export revenues since 1972[202][203]" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/120px-Opecrev.gif" decoding="async" width="120" height="93" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/180px-Opecrev.gif 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/240px-Opecrev.gif 2x" data-file-width="1687" data-file-height="1310" /></a></div> <div class="gallerytext">Fluctuations of OPEC net oil export revenues since 1972<a href="#cite_note-202">[202]</a><a href="#cite_note-203">[203]</a></div> </li> <li class="gallerybox" style="width: 155px"> <div class="thumb" style="width: 150px; height: 150px;"><a href="/wiki/File:US_Oil_Production_and_Imports_1920_to_2005.png" class="mw-file-description" title="US oil production and imports"><img alt="US oil production and imports" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c5/US_Oil_Production_and_Imports_1920_to_2005.png/120px-US_Oil_Production_and_Imports_1920_to_2005.png" decoding="async" width="120" height="120" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c5/US_Oil_Production_and_Imports_1920_to_2005.png/180px-US_Oil_Production_and_Imports_1920_to_2005.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c5/US_Oil_Production_and_Imports_1920_to_2005.png/240px-US_Oil_Production_and_Imports_1920_to_2005.png 2x" data-file-width="600" data-file-height="600" /></a></div> <div class="gallerytext">US oil production and imports</div> </li> <li class="gallerybox" style="width: 155px"> <div class="thumb" style="width: 150px; height: 150px;"><a href="/wiki/File:Oil_price_chronology-june2007.gif" class="mw-file-description" title="The price of oil during the embargo. The graph is based on the nominal, not real, price of oil, and so overstates prices at the end."><img alt="The price of oil during the embargo. The graph is based on the nominal, not real, price of oil, and so overstates prices at the end." src="//upload.wikimedia.org/wikipedia/commons/thumb/5/50/Oil_price_chronology-june2007.gif/120px-Oil_price_chronology-june2007.gif" decoding="async" width="120" height="82" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/50/Oil_price_chronology-june2007.gif/180px-Oil_price_chronology-june2007.gif 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/50/Oil_price_chronology-june2007.gif/240px-Oil_price_chronology-june2007.gif 2x" data-file-width="610" data-file-height="417" /></a></div> <div class="gallerytext">The price of oil during the embargo. The graph is based on the <a href="/wiki/Real_vs._nominal_in_economics" class="mw-redirect" title="Real vs. nominal in economics">nominal, not real</a>, price of oil, and so overstates prices at the end.</div> </li> </ul> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2></div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><a href="/wiki/File:Crystal_energy.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/14/Crystal_energy.svg/29px-Crystal_energy.svg.png" decoding="async" width="29" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/14/Crystal_energy.svg/44px-Crystal_energy.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/14/Crystal_energy.svg/59px-Crystal_energy.svg.png 2x" data-file-width="130" data-file-height="124" /></a><a href="/wiki/Portal:Energy" title="Portal:Energy">Energy portal</a></li></ul> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col"> <ul><li><a href="/wiki/1967_Oil_Embargo" title="1967 Oil Embargo">1967 Oil Embargo</a></li> <li><a href="/wiki/1970s_energy_crisis" title="1970s energy crisis">1970s energy crisis</a></li> <li><a href="/wiki/1970s_commodities_boom" title="1970s commodities boom">1970s commodities boom</a></li> <li><a href="/wiki/1990_oil_price_shock" title="1990 oil price shock">1990 oil price shock</a></li> <li><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a></li> <li><a href="/wiki/2022_global_energy_crisis" class="mw-redirect" title="2022 global energy crisis">2022 global energy crisis</a></li> <li><a href="/wiki/Hubbert_peak_theory" title="Hubbert peak theory">Hubbert peak theory</a></li> <li><a href="/wiki/Supply_shock" title="Supply shock">Supply shock</a></li> <li><a href="/wiki/Petrodollar_recycling" title="Petrodollar recycling">Petrodollar recycling</a></li> <li>"<a href="/wiki/Energy_Crisis_%2774" title="Energy Crisis '74">Energy Crisis '74</a>"</li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-1"><a href="#cite_ref-1">^</a> <style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free 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Retrieved August 30, 2012.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=OPEC+Oil+Embargo+1973%E2%80%931974&rft.pub=U.S.+Department+of+State%2C+Office+of+the+Historian&rft_id=https%3A%2F%2Fhistory.state.gov%2Fmilestones%2F1969-1976%2Foil-embargo&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-cbc-4">^ <a href="#cite_ref-cbc_4-0">a</a> <a href="#cite_ref-cbc_4-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://www.cbc.ca/news/background/oil/">"The price of oil – in context"</a>. CBC News. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20070609145246/http://www.cbc.ca/news/background/oil/">Archived</a> from the original on June 9, 2007. 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April 7, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+8+Year+Long+Blockage+of+the+Suez+Canal&rft.date=2021-04-07&rft_id=https%3A%2F%2Fhistoryofyesterday.com%2Fthe-8-year-long-blockage-of-the-suez-canal-7ccec77bd907&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-7"><a href="#cite_ref-7">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://peacemaker.un.org/egyptisrael-interimagreement75">"Interim Agreement between Israel and Egypt (Sinai II) | UN Peacemaker"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Interim+Agreement+between+Israel+and+Egypt+%28Sinai+II%29+%26%23124%3B+UN+Peacemaker&rft_id=https%3A%2F%2Fpeacemaker.un.org%2Fegyptisrael-interimagreement75&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-8"><a href="#cite_ref-8">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.history.com/topics/middle-east/six-day-war">"Six-Day War"</a>. 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Retrieved September 6, 2018.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=29.+The+Oil+Weapon&rft.btitle=The+Prize%3A+The+Epic+Quest+for+Oil%2C+Money+%26+Power&rft.pub=Simon+and+Schuster&rft.date=1991&rft.isbn=978-0671502485&rft.aulast=Yergin&rft.aufirst=Daniel&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fprizeepicquestfo0000yerg&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-FOOTNOTELacey1981414–415-17">^ <a href="#cite_ref-FOOTNOTELacey1981414–415_17-0">a</a> <a href="#cite_ref-FOOTNOTELacey1981414–415_17-1">b</a> <a href="#cite_ref-FOOTNOTELacey1981414–415_17-2">c</a> <a href="#cite_ref-FOOTNOTELacey1981414–415_17-3">d</a> <a href="#CITEREFLacey1981">Lacey 1981</a>, pp. 414–415. </li> <li id="cite_note-rose-18"><a href="#cite_ref-rose_18-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEuclid_A._Rose2004" class="citation journal cs1">Euclid A. Rose (2004). "OPEC's Dominance of the Global Oil Market: The Rise of the World's Dependency on Oil". Middle East Journal. 58 (#3): 424–443. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.3751%2F58.3.15">10.3751/58.3.15</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0026-3141">0026-3141</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/4330033">4330033</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Middle+East+Journal&rft.atitle=OPEC%27s+Dominance+of+the+Global+Oil+Market%3A+The+Rise+of+the+World%27s+Dependency+on+Oil&rft.volume=58&rft.issue=%233&rft.pages=424-443&rft.date=2004&rft.issn=0026-3141&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F4330033%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.3751%2F58.3.15&rft.au=Euclid+A.+Rose&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-kuiken-19"><a href="#cite_ref-kuiken_19-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKuiken2015" class="citation journal cs1">Kuiken, Jonathan (March 1, 2015). "Striking the Balance: Intervention versus Non-intervention in Britain's Oil Policy, 1957–1970". Britain and the World. 8 (#1): 5–26. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.3366%2Fbrw.2015.0165">10.3366/brw.2015.0165</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/2043-8567">2043-8567</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Britain+and+the+World&rft.atitle=Striking+the+Balance%3A+Intervention+versus+Non-intervention+in+Britain%27s+Oil+Policy%2C+1957%E2%80%931970&rft.volume=8&rft.issue=%231&rft.pages=5-26&rft.date=2015-03-01&rft_id=info%3Adoi%2F10.3366%2Fbrw.2015.0165&rft.issn=2043-8567&rft.aulast=Kuiken&rft.aufirst=Jonathan&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-20"><a href="#cite_ref-20">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAlnasrawi2002" class="citation book cs1">Alnasrawi, Abbas (2002). "1. The International Context of the Iraqi Oil Industry". Iraq's Burdens: Oil, Sanctions, and Underdevelopment. Greenwood Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-313-32459-8" title="Special:BookSources/978-0-313-32459-8"><bdi>978-0-313-32459-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=1.+The+International+Context+of+the+Iraqi+Oil+Industry&rft.btitle=Iraq%27s+Burdens%3A+Oil%2C+Sanctions%2C+and+Underdevelopment&rft.pub=Greenwood+Press&rft.date=2002&rft.isbn=978-0-313-32459-8&rft.aulast=Alnasrawi&rft.aufirst=Abbas&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-21"><a href="#cite_ref-21">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStein2010" class="citation book cs1">Stein, Judith (2010). "OPEC and the Trade Unionism of the Developing World". Pivotal Decade: How the United States Traded Factories for Finance in the Seventies. Yale University Press. pp. 74–100. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0300118186" title="Special:BookSources/978-0300118186"><bdi>978-0300118186</bdi></a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/j.ctt5vkxqd.8">j.ctt5vkxqd.8</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=OPEC+and+the+Trade+Unionism+of+the+Developing+World&rft.btitle=Pivotal+Decade%3A+How+the+United+States+Traded+Factories+for+Finance+in+the+Seventies&rft.pages=74-100&rft.pub=Yale+University+Press&rft.date=2010&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2Fj.ctt5vkxqd.8%23id-name%3DJSTOR&rft.isbn=978-0300118186&rft.aulast=Stein&rft.aufirst=Judith&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-peelo-22">^ <a href="#cite_ref-peelo_22-0">a</a> <a href="#cite_ref-peelo_22-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPeelo1975" class="citation journal cs1">Peelo, Victor (October 9, 1975). "Behind the U.S.–OPEC Conflict". Challenge: The U.S. Economy in Action. 18 (#4): 49–54. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F05775132.1975.11470142">10.1080/05775132.1975.11470142</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0577-5132">0577-5132</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Challenge%3A+The+U.S.+Economy+in+Action&rft.atitle=Behind+the+U.S.%E2%80%93OPEC+Conflict&rft.volume=18&rft.issue=%234&rft.pages=49-54&rft.date=1975-10-09&rft_id=info%3Adoi%2F10.1080%2F05775132.1975.11470142&rft.issn=0577-5132&rft.aulast=Peelo&rft.aufirst=Victor&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-independent_Hammes_2005-23">^ <a href="#cite_ref-independent_Hammes_2005_23-0">a</a> <a href="#cite_ref-independent_Hammes_2005_23-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHammesWills2005" class="citation journal cs1">Hammes, David; Wills, Douglas (2005). <a rel="nofollow" class="external text" href="https://www.independent.org/pdf/tir/tir_09_4_2_hammes.pdf">"Black Gold The End of Bretton Woods and the Oil-Price Shocks of the 1970s"</a> (PDF). The Independent Review. 9 (4): 501–511. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/1086-1653">1086-1653</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/24562081">24562081</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Independent+Review&rft.atitle=Black+Gold+The+End+of+Bretton+Woods+and+the+Oil-Price+Shocks+of+the+1970s&rft.volume=9&rft.issue=4&rft.pages=501-511&rft.date=2005&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F24562081%23id-name%3DJSTOR&rft.issn=1086-1653&rft.aulast=Hammes&rft.aufirst=David&rft.au=Wills%2C+Douglas&rft_id=https%3A%2F%2Fwww.independent.org%2Fpdf%2Ftir%2Ftir_09_4_2_hammes.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-24"><a href="#cite_ref-24">^</a> For a discussion about the impact of inflation on the purchasing power of oil revenues in the 1970s see <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMurphyPerez-Lopez1975" class="citation journal cs1">Murphy, Edward E.; Perez-Lopez, Jorge F. (1975). "Trends in U.S. export prices and OPEC oil prices". Monthly Labor Review. 98 (11): 36. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0098-1818">0098-1818</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Monthly+Labor+Review&rft.atitle=Trends+in+U.S.+export+prices+and+OPEC+oil+prices&rft.volume=98&rft.issue=11&rft.pages=36&rft.date=1975&rft.issn=0098-1818&rft.aulast=Murphy&rft.aufirst=Edward+E.&rft.au=Perez-Lopez%2C+Jorge+F.&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-25"><a href="#cite_ref-25">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTaghizadeganStöferleStöferle2014" class="citation book cs1 cs1-prop-foreign-lang-source">Taghizadegan, Rahim; Stöferle, Ronald; Stöferle, Mark (2014). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=Er9SBAAAQBAJ&pg=PA87">Österreichische Schule für Anleger: Austrian Investing zwischen Inflation und Deflation</a> (in German). FinanzBuch Verlag. p. 87. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3862485949" title="Special:BookSources/978-3862485949"><bdi>978-3862485949</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20161230181608/https://books.google.com/books?id=Er9SBAAAQBAJ&pg=PA87">Archived</a> from the original on December 30, 2016. Retrieved June 20, 2015. <q>Unsere Mitgliedslander werden alle notwendigen Schritte unternehmen und/oder Verhandlungen mit den Olfirmen fuhren, am Mittel und Wege zu finden, um nachteiligen Auswirkungen auf das Realeinkommen der Mitgliedslander, die sich aus den internationalen monetaren Entwicklungen per August 15, 1971 ergeben, entgegenzuwirken.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=%C3%96sterreichische+Schule+f%C3%BCr+Anleger%3A+Austrian+Investing+zwischen+Inflation+und+Deflation&rft.pages=87&rft.pub=FinanzBuch+Verlag&rft.date=2014&rft.isbn=978-3862485949&rft.aulast=Taghizadegan&rft.aufirst=Rahim&rft.au=St%C3%B6ferle%2C+Ronald&rft.au=St%C3%B6ferle%2C+Mark&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DEr9SBAAAQBAJ%26pg%3DPA87&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-ahrari05-26">^ <a href="#cite_ref-ahrari05_26-0">a</a> <a href="#cite_ref-ahrari05_26-1">b</a> <a href="#cite_ref-ahrari05_26-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAhrari2015" class="citation book cs1">Ahrari, Mohammed E. (2015). "5. The Oil Embargo". <a rel="nofollow" class="external text" href="https://books.google.com/books?id=f5sfBgAAQBAJ">OPEC: The Failing Giant</a>. University Press of Kentucky. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8131-5665-1" title="Special:BookSources/978-0-8131-5665-1"><bdi>978-0-8131-5665-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=5.+The+Oil+Embargo&rft.btitle=OPEC%3A+The+Failing+Giant&rft.pub=University+Press+of+Kentucky&rft.date=2015&rft.isbn=978-0-8131-5665-1&rft.aulast=Ahrari&rft.aufirst=Mohammed+E.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3Df5sfBgAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-27"><a href="#cite_ref-27">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKandiyoti2012" class="citation book cs1">Kandiyoti, Rafael (2012). Pipelines: Flowing Oil and Crude Politics. I.B. Tauris. p. 66. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-84885-839-8" title="Special:BookSources/978-1-84885-839-8"><bdi>978-1-84885-839-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Pipelines%3A+Flowing+Oil+and+Crude+Politics&rft.pages=66&rft.pub=I.B.+Tauris&rft.date=2012&rft.isbn=978-1-84885-839-8&rft.aulast=Kandiyoti&rft.aufirst=Rafael&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-28"><a href="#cite_ref-28">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDaoudiDajani1984" class="citation journal cs1">Daoudi, M. S.; Dajani, M. S. (January 1984). "The 1967 Oil Embargo Revisited". Journal of Palestine Studies. 13 (#2): 65–90. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F2536897">10.2307/2536897</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0377-919X">0377-919X</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2536897">2536897</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Palestine+Studies&rft.atitle=The+1967+Oil+Embargo+Revisited&rft.volume=13&rft.issue=%232&rft.pages=65-90&rft.date=1984-01&rft.issn=0377-919X&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2536897%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.2307%2F2536897&rft.aulast=Daoudi&rft.aufirst=M.+S.&rft.au=Dajani%2C+M.+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> </li> <li id="cite_note-29"><a href="#cite_ref-29">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSherbinyTessler1976" class="citation book cs1">Sherbiny, Naiem A.; Tessler, Mark A. (1976). "3. Arab Oil Production Policies in the Context of International Conflicts". Arab oil: impact on the Arab countries and global implications. 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Nixon, Congress, and the 1973 Petroleum Crisis"</a>. 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Princeton: Princeton University Press. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2Fj.ctt7zv8c6">10.2307/j.ctt7zv8c6</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-4008-6143-9" title="Special:BookSources/978-1-4008-6143-9"><bdi>978-1-4008-6143-9</bdi></a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/j.ctt7zv8c6">j.ctt7zv8c6</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Nuclear+Politics%3A+Energy+and+the+State+in+the+United+States%2C+Sweden%2C+and+France&rft.place=Princeton&rft.pub=Princeton+University+Press&rft.date=1990&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2Fj.ctt7zv8c6%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.2307%2Fj.ctt7zv8c6&rft.isbn=978-1-4008-6143-9&rft.aulast=Jasper&rft.aufirst=James+M.&rft_id=http%3A%2F%2Fwww.jstor.org%2Fstable%2Fj.ctt7zv8c6&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLe_Sueur2010" class="citation book cs1">Le Sueur, James D. 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American presidents and the Middle East. Durham: Duke Univ. Pr. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8223-0972-7" title="Special:BookSources/978-0-8223-0972-7"><bdi>978-0-8223-0972-7</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=American+presidents+and+the+Middle+East&rft.place=Durham&rft.pub=Duke+Univ.+Pr&rft.date=1990&rft.isbn=978-0-8223-0972-7&rft.aulast=Lenczowski&rft.aufirst=George&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLesch2001" class="citation book cs1">Lesch, David W. (2001). 1979: the year that shaped the modern Middle East. 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Co. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-906522-13-4" title="Special:BookSources/978-0-906522-13-4"><bdi>978-0-906522-13-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Oil+and+gas+%3A+crises+and+controversies+1961%E2%80%932000&rft.pub=Brentwood%2C+England+%3A+Multi-Science+Pub.+Co.&rft.date=2001&rft.isbn=978-0-906522-13-4&rft.aulast=Odell&rft.aufirst=Peter+R.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Foilgascrises01odel&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFOdell1974" class="citation book cs1">Odell, Peter R. (1974). <a rel="nofollow" class="external text" href="https://archive.org/details/oilworldpowerbac0000odel">Oil and world power : background to the oil crisis</a>. 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(1976). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=CUqwCwAAQBAJ">The Economics of the Oil Crisis</a>. Springer. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-349-02810-8" title="Special:BookSources/978-1-349-02810-8"><bdi>978-1-349-02810-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Economics+of+the+Oil+Crisis&rft.pub=Springer&rft.date=1976&rft.isbn=978-1-349-02810-8&rft.aulast=Rybczynski&rft.aufirst=T.+M.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DCUqwCwAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSilverwood2021" class="citation book cs1">Silverwood, James (2021) [2020]. "Competition and Credit Control, Monetary Performance, and the Perception of Macroeconomic Failure: The Heath Government and the Road to Brexit". In Roe-Crines, Andrew S.; Heppell, Timothy (eds.). Policies and politics under Prime Minister Edward Heath. Palgrave studies in political leadership. Cham, Switzerland: Palgrave Macmillan. pp. 87–114. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3-0305-3673-2" title="Special:BookSources/978-3-0305-3673-2"><bdi>978-3-0305-3673-2</bdi></a>. <a href="/wiki/OL_(identifier)" class="mw-redirect" title="OL (identifier)">OL</a> <a rel="nofollow" class="external text" href="https://openlibrary.org/books/OL36280331M">36280331M</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Competition+and+Credit+Control%2C+Monetary+Performance%2C+and+the+Perception+of+Macroeconomic+Failure%3A+The+Heath+Government+and+the+Road+to+Brexit&rft.btitle=Policies+and+politics+under+Prime+Minister+Edward+Heath&rft.place=Cham%2C+Switzerland&rft.series=Palgrave+studies+in+political+leadership&rft.pages=87-114&rft.pub=Palgrave+Macmillan&rft.date=2021&rft_id=https%3A%2F%2Fopenlibrary.org%2Fbooks%2FOL36280331M%23id-name%3DOL&rft.isbn=978-3-0305-3673-2&rft.aulast=Silverwood&rft.aufirst=James&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFShwadran2019" class="citation book cs1">Shwadran, Benjamin (2019). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=eiqNDwAAQBAJ">Middle East Oil Crises Since 1973</a>. London: Routledge. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-429-71787-1" title="Special:BookSources/978-0-429-71787-1"><bdi>978-0-429-71787-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Middle+East+Oil+Crises+Since+1973&rft.place=London&rft.pub=Routledge&rft.date=2019&rft.isbn=978-0-429-71787-1&rft.aulast=Shwadran&rft.aufirst=Benjamin&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DeiqNDwAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSkinner2017" class="citation book cs1">Skinner, Rob (2017). Modern South Africa in world history: beyond imperialism. London Oxford New York New Delhi Sydney: Bloomsbury Academic, an imprint of Bloomsbury Publishing Plc. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-4411-6476-6" title="Special:BookSources/978-1-4411-6476-6"><bdi>978-1-4411-6476-6</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Modern+South+Africa+in+world+history%3A+beyond+imperialism&rft.place=London+Oxford+New+York+New+Delhi+Sydney&rft.pub=Bloomsbury+Academic%2C+an+imprint+of+Bloomsbury+Publishing+Plc&rft.date=2017&rft.isbn=978-1-4411-6476-6&rft.aulast=Skinner&rft.aufirst=Rob&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSobel1974" class="citation book cs1">Sobel, Lester A. (1974). <a rel="nofollow" class="external text" href="https://archive.org/details/energycrisis196900sobe">Energy crisis, [1969–1979]</a>. A Facts on File publication. New York: Facts on File. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-87196-278-2" title="Special:BookSources/978-0-87196-278-2"><bdi>978-0-87196-278-2</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Energy+crisis%2C+%5B1969%E2%80%931979%5D&rft.place=New+York&rft.series=A+Facts+on+File+publication&rft.pub=Facts+on+File&rft.date=1974&rft.isbn=978-0-87196-278-2&rft.aulast=Sobel&rft.aufirst=Lester+A.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fenergycrisis196900sobe&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStern2016" class="citation journal cs1">Stern, Roger J. (May 9, 2016). "Oil Scarcity Ideology in US Foreign Policy, 1908–97". Security Studies. 25 (2): 214–257. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F09636412.2016.1171967">10.1080/09636412.2016.1171967</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0963-6412">0963-6412</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Security+Studies&rft.atitle=Oil+Scarcity+Ideology+in+US+Foreign+Policy%2C+1908%E2%80%9397&rft.volume=25&rft.issue=2&rft.pages=214-257&rft.date=2016-05-09&rft_id=info%3Adoi%2F10.1080%2F09636412.2016.1171967&rft.issn=0963-6412&rft.aulast=Stern&rft.aufirst=Roger+J.&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVenn2002" class="citation book cs1">Venn, Fiona (2002). The oil crisis. Turning points series. London: Longman. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-582-30809-1" title="Special:BookSources/978-0-582-30809-1"><bdi>978-0-582-30809-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+oil+crisis&rft.place=London&rft.series=Turning+points+series&rft.pub=Longman&rft.date=2002&rft.isbn=978-0-582-30809-1&rft.aulast=Venn&rft.aufirst=Fiona&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVenn1986" class="citation book cs1">Venn, Fiona (1986). <a rel="nofollow" class="external text" href="https://archive.org/details/oildiplomacyintw00venn">Oil diplomacy in the twentieth century</a>. New York : St. Martin's Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-312-58307-1" title="Special:BookSources/978-0-312-58307-1"><bdi>978-0-312-58307-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Oil+diplomacy+in+the+twentieth+century&rft.pub=New+York+%3A+St.+Martin%27s+Press&rft.date=1986&rft.isbn=978-0-312-58307-1&rft.aulast=Venn&rft.aufirst=Fiona&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Foildiplomacyintw00venn&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWunderlich2020" class="citation book cs1">Wunderlich, Jens-Uwe (2020). <a rel="nofollow" class="external text" href="https://www.taylorfrancis.com/books/9781000197662">European and East Asian Regionalism: Critical Junctures and Historical Turning Points</a> (1st ed.). Abingdon, Oxon ; New York: Routledge. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.4324%2F9781003096719">10.4324/9781003096719</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-003-09671-9" title="Special:BookSources/978-1-003-09671-9"><bdi>978-1-003-09671-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=European+and+East+Asian+Regionalism%3A+Critical+Junctures+and+Historical+Turning+Points&rft.place=Abingdon%2C+Oxon+%3B+New+York&rft.edition=1st&rft.pub=Routledge&rft.date=2020&rft_id=info%3Adoi%2F10.4324%2F9781003096719&rft.isbn=978-1-003-09671-9&rft.aulast=Wunderlich&rft.aufirst=Jens-Uwe&rft_id=https%3A%2F%2Fwww.taylorfrancis.com%2Fbooks%2F9781000197662&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFYergin1991" class="citation book cs1"><a href="/wiki/Daniel_Yergin" title="Daniel Yergin">Yergin, Daniel</a> (1991). <a href="/wiki/The_Prize:_The_Epic_Quest_for_Oil,_Money,_and_Power" title="The Prize: The Epic Quest for Oil, Money, and Power">The Prize: the epic quest for oil, money, and power</a> (1st Free Press ed.). New York: Free Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-671-79932-8" title="Special:BookSources/978-0-671-79932-8"><bdi>978-0-671-79932-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Prize%3A+the+epic+quest+for+oil%2C+money%2C+and+power&rft.place=New+York&rft.edition=1st+Free+Press&rft.pub=Free+Press&rft.date=1991&rft.isbn=978-0-671-79932-8&rft.aulast=Yergin&rft.aufirst=Daniel&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"> <a rel="nofollow" class="external text" href="https://archive.org/details/prizeepicquestfo0000yerg_g3v1">online</a>; very detailed coverage</li></ul> <div class="mw-heading mw-heading3"><h3 id="Primary_sources">Primary sources</h3></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKissinger1982" class="citation book cs1"><a href="/wiki/Henry_Kissinger" title="Henry Kissinger">Kissinger, Henry</a> (1982). Years of upheaval. London: Weidenfeld & Nicolson [u.a.] <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-7181-2115-0" title="Special:BookSources/978-0-7181-2115-0"><bdi>978-0-7181-2115-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Years+of+upheaval&rft.place=London&rft.pub=Weidenfeld+%26+Nicolson+%5Bu.a.%5D&rft.date=1982&rft.isbn=978-0-7181-2115-0&rft.aulast=Kissinger&rft.aufirst=Henry&rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973+oil+crisis" class="Z3988"></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png" decoding="async" width="30" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/45px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/59px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></div> <div class="side-box-text plainlist">Wikimedia Commons has media related to <a href="https://commons.wikimedia.org/wiki/Category:1973_oil_crisis" class="extiw" title="commons:Category:1973 oil crisis">1973 oil crisis</a>.</div></div> </div> <ul><li>Hakes, Jay (2008). <a rel="nofollow" class="external text" href="http://www.ensec.org/index.php?option=com_content&id=155">35 Years After the Arab Oil Embargo</a>, Journal of Energy Security.</li> <li>Morgan, Oliver; Islam, Faisal (2001). <a rel="nofollow" class="external text" href="https://www.theguardian.com/business/2001/jan/14/globalrecession.oilandpetrol">Saudi dove in the oil slick</a>, The Guardian. Sheikh Ahmed Zaki Yamani, former oil minister of Saudi Arabia, gives his personal account of the 1973 energy crisis.</li> <li>Oppenheim, V.H. (1976). <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1148022">Why Oil Prices Go Up: The Past: We Pushed Them</a>, Foreign Policy.</li> <li>US Energy Information Administration (1998). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110523062242/http://www.eia.doe.gov/emeu/25opec/anniversary.html">25th Anniversary of the 1973 Oil Embargo</a></li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol 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li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Cold_War" title="Template:Cold War"><abbr title="View this template" style="color:inherit">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Cold_War" title="Template talk:Cold War"><abbr title="Discuss this template" style="color:inherit">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Cold_War" title="Special:EditPage/Template:Cold War"><abbr title="Edit this template" style="color:inherit">e</abbr></a></li></ul></div><div id="Cold_War" style="font-size:114%;margin:0 4em"><a href="/wiki/Cold_War" title="Cold War">Cold War</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2" style="background-color:#DCDCDC;color:inherit;"><div> <ul><li><a href="/wiki/United_States" title="United States">United States</a></li> <li><a href="/wiki/Soviet_Union" title="Soviet Union">Soviet Union</a></li> <li><a href="/wiki/NATO" title="NATO">NATO</a></li> <li><a href="/wiki/Warsaw_Pact" title="Warsaw Pact">Warsaw Pact</a></li> <li><a href="/wiki/ANZUS" title="ANZUS">ANZUS</a></li> <li><a href="/wiki/Central_Treaty_Organization" title="Central Treaty Organization">METO</a></li> <li><a href="/wiki/Southeast_Asia_Treaty_Organization" title="Southeast Asia Treaty Organization">SEATO</a></li> <li><a href="/wiki/Northeast_Asia_Treaty_Organization" title="Northeast Asia Treaty Organization">NEATO</a></li> <li><a href="/wiki/Inter-American_Treaty_of_Reciprocal_Assistance" title="Inter-American Treaty of Reciprocal Assistance">Rio Pact</a></li> <li><a href="/wiki/Non-Aligned_Movement" title="Non-Aligned Movement">Non-Aligned Movement</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">1940s</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Morgenthau_Plan" title="Morgenthau Plan">Morgenthau Plan</a></li> <li><a href="/wiki/Hukbalahap_rebellion" title="Hukbalahap rebellion">Hukbalahap rebellion</a></li> <li><a href="/wiki/Jamaican_political_conflict" title="Jamaican political conflict">Jamaican political conflict</a></li> <li><a href="/wiki/Dekemvriana" title="Dekemvriana">Dekemvriana</a></li> <li><a href="/wiki/Guerrilla_war_in_the_Baltic_states" title="Guerrilla war in the Baltic states">Guerrilla war in the Baltic states</a> <ul><li><a href="/wiki/Operation_Priboi" title="Operation Priboi">Operation Priboi</a></li> <li><a href="/wiki/Operation_Jungle" title="Operation Jungle">Operation Jungle</a></li> <li><a href="/wiki/Occupation_of_the_Baltic_states" title="Occupation of the Baltic states">Occupation of the Baltic states</a></li></ul></li> <li><a href="/wiki/Cursed_soldiers" title="Cursed soldiers">Cursed soldiers</a></li> <li><a href="/wiki/Operation_Unthinkable" title="Operation Unthinkable">Operation Unthinkable</a></li> <li><a href="/wiki/Gouzenko_Affair" title="Gouzenko Affair">Gouzenko Affair</a></li> <li><a href="/wiki/Division_of_Korea" title="Division of Korea">Division of Korea</a></li> <li><a href="/wiki/Indonesian_National_Revolution" title="Indonesian National Revolution">Indonesian National Revolution</a></li> <li><a href="/wiki/War_in_Vietnam_(1945%E2%80%931946)" title="War in Vietnam (1945–1946)">Operation Masterdom</a></li> <li><a href="/wiki/Operation_Beleaguer" title="Operation Beleaguer">Operation Beleaguer</a></li> <li><a href="/wiki/Operation_Blacklist_Forty" title="Operation Blacklist Forty">Operation Blacklist Forty</a></li> <li><a href="/wiki/Iran_crisis_of_1946" title="Iran crisis of 1946">Iran crisis of 1946</a></li> <li><a href="/wiki/Greek_Civil_War" title="Greek Civil War">Greek Civil War</a></li> <li><a href="/wiki/Baruch_Plan" title="Baruch Plan">Baruch Plan</a></li> <li><a href="/wiki/Corfu_Channel_incident" title="Corfu Channel incident">Corfu Channel incident</a></li> <li><a href="/wiki/Turkish_Straits_crisis" title="Turkish Straits crisis">Turkish Straits crisis</a></li> <li><a href="/wiki/Restatement_of_Policy_on_Germany" title="Restatement of Policy on Germany">Restatement of Policy on Germany</a></li> <li><a href="/wiki/First_Indochina_War" title="First Indochina War">First Indochina War</a></li> <li><a href="/wiki/1947_Polish_parliamentary_election" title="1947 Polish parliamentary election">1947 Polish parliamentary election</a></li> <li><a href="/wiki/Truman_Doctrine" title="Truman Doctrine">Truman Doctrine</a></li> <li><a href="/wiki/Asian_Relations_Conference" title="Asian Relations Conference">Asian Relations Conference</a></li> <li><a href="/wiki/May_1947_crises" title="May 1947 crises">May 1947 crises</a></li> <li><a href="/wiki/Partition_of_India" title="Partition of India">Partition of India</a></li> <li><a href="/wiki/Indo-Pakistani_war_of_1947%E2%80%931948" title="Indo-Pakistani war of 1947–1948">Indo-Pakistani war of 1947–1948</a></li> <li><a href="/wiki/1948_Palestine_war" title="1948 Palestine war">1947–1949 Palestine war</a> <ul><li><a href="/wiki/1947%E2%80%931948_civil_war_in_Mandatory_Palestine" title="1947–1948 civil war in Mandatory Palestine">1947–1948 civil war in Mandatory Palestine</a></li> <li><a href="/wiki/1948_Arab%E2%80%93Israeli_War" title="1948 Arab–Israeli War">1948 Arab–Israeli War</a></li> <li><a href="/wiki/1948_Palestinian_expulsion_and_flight" title="1948 Palestinian expulsion and flight">1948 Palestinian expulsion and flight</a></li></ul></li> <li><a href="/wiki/Marshall_Plan" title="Marshall Plan">Marshall Plan</a></li> <li><a href="/wiki/Comecon" title="Comecon">Comecon</a></li> <li><a href="/wiki/1948_Czechoslovak_coup_d%27%C3%A9tat" title="1948 Czechoslovak coup d'état">1948 Czechoslovak coup d'état</a></li> <li><a href="/wiki/Allied_Control_Council#Incapacitation_of_the_council" title="Allied Control Council">Incapacitation of the Allied Control Council</a></li> <li><a href="/wiki/Al-Wathbah_uprising" title="Al-Wathbah uprising">Al-Wathbah uprising</a></li> <li><a href="/wiki/Tito%E2%80%93Stalin_split" title="Tito–Stalin split">Tito–Stalin split</a></li> <li><a href="/wiki/Berlin_Blockade" title="Berlin Blockade">Berlin Blockade</a></li> <li><a href="/wiki/Annexation_of_Hyderabad" title="Annexation of Hyderabad">Annexation of Hyderabad</a></li> <li><a href="/wiki/Madiun_Affair" title="Madiun Affair">Madiun Affair</a></li> <li><a href="/wiki/Western_betrayal" title="Western betrayal">Western betrayal</a></li> <li><a href="/wiki/Iron_Curtain" title="Iron Curtain">Iron Curtain</a></li> <li><a href="/wiki/Eastern_Bloc" title="Eastern Bloc">Eastern Bloc</a></li> <li><a href="/wiki/Western_Bloc" title="Western Bloc">Western Bloc</a></li> <li><a href="/wiki/Chinese_Civil_War" title="Chinese Civil War">Chinese Civil War</a> <ul><li><a href="/wiki/Chinese_Communist_Revolution" title="Chinese Communist Revolution">Chinese Communist Revolution</a></li></ul></li> <li><a href="/wiki/Malayan_Emergency" title="Malayan Emergency">Malayan Emergency</a></li> <li><a href="/wiki/March_1949_Syrian_coup_d%27%C3%A9tat" title="March 1949 Syrian coup d'état">March 1949 Syrian coup d'état</a></li> <li><a href="/wiki/Operation_Valuable" title="Operation Valuable">Operation Valuable</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">1950s</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bamboo_curtain" title="Bamboo curtain">Bamboo curtain</a></li> <li><a href="/wiki/McCarthyism" title="McCarthyism">McCarthyism</a></li> <li><a href="/wiki/Korean_War" title="Korean War">Korean War</a></li> <li><a href="/wiki/Arab_Cold_War" title="Arab Cold War">Arab Cold War (1952–1979)</a></li> <li><a href="/wiki/1952_Egyptian_revolution" title="1952 Egyptian revolution">1952 Egyptian revolution</a></li> <li><a href="/wiki/Iraqi_Intifada_(1952)" title="Iraqi Intifada (1952)">Iraqi Intifada (1952)</a></li> <li><a href="/wiki/Mau_Mau_rebellion" title="Mau Mau rebellion">Mau Mau rebellion</a></li> <li><a href="/wiki/East_German_uprising_of_1953" title="East German uprising of 1953">East German uprising of 1953</a></li> <li><a href="/wiki/1953_Iranian_coup_d%27%C3%A9tat" title="1953 Iranian coup d'état">1953 Iranian coup d'état</a></li> <li><a href="/wiki/Pact_of_Madrid" title="Pact of Madrid">Pact of Madrid</a></li> <li><a href="/wiki/Bricker_Amendment" title="Bricker Amendment">Bricker Amendment</a></li> <li><a href="/wiki/1954_Syrian_coup_d%27%C3%A9tat" title="1954 Syrian coup d'état">1954 Syrian coup d'état</a></li> <li><a href="/wiki/Petrov_Affair" title="Petrov Affair">Petrov Affair</a></li> <li><a href="/wiki/Domino_theory" title="Domino theory">Domino theory</a></li> <li><a href="/wiki/1954_Geneva_Conference" title="1954 Geneva Conference">1954 Geneva Conference</a></li> <li><a href="/wiki/1954_Guatemalan_coup_d%27%C3%A9tat" title="1954 Guatemalan coup d'état">1954 Guatemalan coup d'état</a></li> <li><a href="/wiki/Capture_of_the_Tuapse" title="Capture of the Tuapse">Capture of the Tuapse</a></li> <li><a href="/wiki/First_Taiwan_Strait_Crisis" title="First Taiwan Strait Crisis">First Taiwan Strait Crisis</a></li> <li><a href="/wiki/Jebel_Akhdar_War" title="Jebel Akhdar War">Jebel Akhdar War</a></li> <li><a href="/wiki/Algerian_War" title="Algerian War">Algerian War</a></li> <li><a href="/wiki/Kashmir_Princess" title="Kashmir Princess">Kashmir Princess</a></li> <li><a href="/wiki/Bandung_Conference" title="Bandung Conference">Bandung Conference</a></li> <li><a href="/wiki/Geneva_Summit_(1955)" title="Geneva Summit (1955)">Geneva Summit (1955)</a></li> <li><a href="/wiki/Vietnam_War" title="Vietnam War">Vietnam War</a></li> <li><a href="/wiki/Cyprus_Emergency" title="Cyprus Emergency">Cyprus Emergency</a></li> <li>"<a href="/wiki/On_the_Cult_of_Personality_and_Its_Consequences" title="On the Cult of Personality and Its Consequences">On the Cult of Personality and Its Consequences</a>"</li> <li><a href="/wiki/1956_Pozna%C5%84_protests" title="1956 Poznań protests">1956 Poznań protests</a></li> <li><a href="/wiki/Hungarian_Revolution_of_1956" title="Hungarian Revolution of 1956">Hungarian Revolution of 1956</a></li> <li><a href="/wiki/Polish_October" title="Polish October">Polish October</a></li> <li><a href="/wiki/Suez_Crisis" title="Suez Crisis">Suez Crisis</a></li> <li>"<a href="/wiki/We_will_bury_you" title="We will bury you">We will bury you</a>"</li> <li><a href="/wiki/Operation_Gladio" title="Operation Gladio">Operation Gladio</a></li> <li><a href="/wiki/Syrian_Crisis_of_1957" title="Syrian Crisis of 1957">Syrian Crisis of 1957</a></li> <li><a href="/wiki/Sputnik_crisis" title="Sputnik crisis">Sputnik crisis</a></li> <li><a href="/wiki/Ifni_War" title="Ifni War">Ifni War</a></li> <li><a href="/wiki/14_July_Revolution" title="14 July Revolution">Iraqi 14 July Revolution</a></li> <li><a href="/wiki/1958_Lebanon_crisis" title="1958 Lebanon crisis">1958 Lebanon crisis</a></li> <li><a href="/wiki/Second_Taiwan_Strait_Crisis" title="Second Taiwan Strait Crisis">Second Taiwan Strait Crisis</a></li> <li><a href="/wiki/1959_Mosul_uprising" title="1959 Mosul uprising">1959 Mosul uprising</a></li> <li><a href="/wiki/1959_Tibetan_uprising" title="1959 Tibetan uprising">1959 Tibetan uprising</a></li> <li><a href="/wiki/Laotian_Civil_War" title="Laotian Civil War">Laotian Civil War</a></li> <li><a href="/wiki/Kitchen_Debate" title="Kitchen Debate">Kitchen Debate</a></li> <li><a href="/wiki/Cuban_Revolution" title="Cuban Revolution">Cuban Revolution</a> <ul><li><a href="/wiki/Consolidation_of_the_Cuban_Revolution" title="Consolidation of the Cuban Revolution">Consolidation of the Cuban Revolution</a></li></ul></li> <li><a href="/wiki/Sino-Soviet_split" title="Sino-Soviet split">Sino-Soviet split</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">1960s</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Congo_Crisis" title="Congo Crisis">Congo Crisis</a></li> <li><a href="/wiki/Simba_rebellion" title="Simba rebellion">Simba rebellion</a></li> <li><a href="/wiki/1960_U-2_incident" title="1960 U-2 incident">1960 U-2 incident</a></li> <li><a href="/wiki/Bay_of_Pigs_Invasion" title="Bay of Pigs Invasion">Bay of Pigs Invasion</a></li> <li><a href="/wiki/1960_Turkish_coup_d%27%C3%A9tat" title="1960 Turkish coup d'état">1960 Turkish coup d'état</a></li> <li><a href="/wiki/Albanian%E2%80%93Soviet_split" title="Albanian–Soviet split">Albanian–Soviet split</a> <ul><li><a href="/wiki/Expulsion_of_Soviets_from_Albania" title="Expulsion of Soviets from Albania">Expulsion of Soviets from Albania</a></li></ul></li> <li><a href="/wiki/Iraqi%E2%80%93Kurdish_conflict" title="Iraqi–Kurdish conflict">Iraqi–Kurdish conflict</a> <ul><li><a href="/wiki/First_Iraqi%E2%80%93Kurdish_War" title="First Iraqi–Kurdish War">First Iraqi–Kurdish War</a></li></ul></li> <li><a href="/wiki/Berlin_Crisis_of_1961" title="Berlin Crisis of 1961">Berlin Crisis of 1961</a></li> <li><a href="/wiki/Berlin_Wall" title="Berlin Wall">Berlin Wall</a></li> <li><a href="/wiki/Annexation_of_Goa" title="Annexation of Goa">Annexation of Goa</a></li> <li><a href="/wiki/Papua_conflict" title="Papua conflict">Papua conflict</a></li> <li><a href="/wiki/Indonesia%E2%80%93Malaysia_confrontation" title="Indonesia–Malaysia confrontation">Indonesia–Malaysia confrontation</a></li> <li><a href="/wiki/Sand_War" title="Sand War">Sand War</a></li> <li><a href="/wiki/Portuguese_Colonial_War" title="Portuguese Colonial War">Portuguese Colonial War</a> <ul><li><a href="/wiki/Angolan_War_of_Independence" title="Angolan War of Independence">Angolan War of Independence</a></li> <li><a href="/wiki/Guinea-Bissau_War_of_Independence" title="Guinea-Bissau War of Independence">Guinea-Bissau War of Independence</a></li> <li><a href="/wiki/Mozambican_War_of_Independence" title="Mozambican War of Independence">Mozambican War of Independence</a></li></ul></li> <li><a href="/wiki/Cuban_Missile_Crisis" title="Cuban Missile Crisis">Cuban Missile Crisis</a></li> <li><a href="/wiki/El_Porte%C3%B1azo" title="El Porteñazo">El Porteñazo</a></li> <li><a href="/wiki/Sino-Indian_War" title="Sino-Indian War">Sino-Indian War</a></li> <li><a href="/wiki/Communist_insurgency_in_Sarawak" title="Communist insurgency in Sarawak">Communist insurgency in Sarawak</a></li> <li><a href="/wiki/Ramadan_Revolution" title="Ramadan Revolution">Ramadan Revolution</a></li> <li><a href="/wiki/Eritrean_War_of_Independence" title="Eritrean War of Independence">Eritrean War of Independence</a></li> <li><a href="/wiki/North_Yemen_civil_war" title="North Yemen civil war">North Yemen civil war</a></li> <li><a href="/wiki/1963_Syrian_coup_d%27%C3%A9tat" title="1963 Syrian coup d'état">1963 Syrian coup d'état</a></li> <li><a href="/wiki/Assassination_of_John_F._Kennedy" title="Assassination of John F. Kennedy">Assassination of John F. Kennedy</a></li> <li><a href="/wiki/Aden_Emergency" title="Aden Emergency">Aden Emergency</a></li> <li><a href="/wiki/Cypriot_intercommunal_violence#Crisis_of_1963–1964" title="Cypriot intercommunal violence">Cyprus crisis of 1963–1964</a></li> <li><a href="/wiki/Shifta_War" title="Shifta War">Shifta War</a></li> <li><a href="/wiki/Mexican_Dirty_War" title="Mexican Dirty War">Mexican Dirty War</a> <ul><li><a href="/wiki/Tlatelolco_massacre" title="Tlatelolco massacre">Tlatelolco massacre</a></li></ul></li> <li><a href="/wiki/Guatemalan_Civil_War" title="Guatemalan Civil War">Guatemalan Civil War</a></li> <li><a href="/wiki/Colombian_conflict" title="Colombian conflict">Colombian conflict</a></li> <li><a href="/wiki/1964_Brazilian_coup_d%27%C3%A9tat" title="1964 Brazilian coup d'état">1964 Brazilian coup d'état</a></li> <li><a href="/wiki/Dominican_Civil_War" title="Dominican Civil War">Dominican Civil War</a></li> <li><a href="/wiki/Rhodesian_Bush_War" title="Rhodesian Bush War">Rhodesian Bush War</a></li> <li><a href="/wiki/Indonesian_mass_killings_of_1965%E2%80%9366" title="Indonesian mass killings of 1965–66">Indonesian mass killings of 1965–1966</a></li> <li><a href="/wiki/Transition_to_the_New_Order" title="Transition to the New Order">Transition to the New Order (Indonesia)</a></li> <li><a href="/wiki/ASEAN_Declaration" title="ASEAN Declaration">ASEAN Declaration</a></li> <li><a href="/wiki/1966_Syrian_coup_d%27%C3%A9tat" title="1966 Syrian coup d'état">1966 Syrian coup d'état</a></li> <li><a href="/wiki/Cultural_Revolution" title="Cultural Revolution">Cultural Revolution</a></li> <li><a href="/wiki/Argentine_Revolution" title="Argentine Revolution">Argentine Revolution</a></li> <li><a href="/wiki/South_African_Border_War" title="South African Border War">South African Border War</a></li> <li><a href="/wiki/Korean_DMZ_Conflict" title="Korean DMZ Conflict">Korean DMZ Conflict</a></li> <li><a href="/wiki/12-3_incident" title="12-3 incident">12-3 incident</a></li> <li><a href="/wiki/Greek_junta" title="Greek junta">Greek junta</a></li> <li><a href="/wiki/1967_Hong_Kong_riots" title="1967 Hong Kong riots">1967 Hong Kong riots</a></li> <li><a href="/wiki/Years_of_Lead_(Italy)" title="Years of Lead (Italy)">Years of Lead (Italy)</a></li> <li><a href="/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a></li> <li><a href="/wiki/War_of_Attrition" title="War of Attrition">War of Attrition</a></li> <li><a href="/wiki/Dhofar_War" title="Dhofar War">Dhofar War</a></li> <li><a href="/wiki/Al-Wadiah_War" title="Al-Wadiah War">Al-Wadiah War</a></li> <li><a href="/wiki/Nigerian_Civil_War" title="Nigerian Civil War">Nigerian Civil War</a></li> <li><a href="/wiki/Protests_of_1968" title="Protests of 1968">Protests of 1968</a> <ul><li><a href="/wiki/May_68" title="May 68">May 68</a></li></ul></li> <li><a href="/wiki/Prague_Spring" title="Prague Spring">Prague Spring</a></li> <li><a href="/wiki/USS_Pueblo_(AGER-2)#Pueblo_incident" title="USS Pueblo (AGER-2)">USS Pueblo incident</a></li> <li><a href="/wiki/1968_Polish_political_crisis" title="1968 Polish political crisis">1968 Polish political crisis</a></li> <li><a href="/wiki/1968%E2%80%931971_East_Pakistan_communist_insurgency" title="1968–1971 East Pakistan communist insurgency">1968–1971 East Pakistan communist insurgency</a></li> <li><a href="/wiki/Communist_insurgency_in_Malaysia_(1968%E2%80%931989)" title="Communist insurgency in Malaysia (1968–1989)">Communist insurgency in Malaysia</a></li> <li><a href="/wiki/Warsaw_Pact_invasion_of_Czechoslovakia" title="Warsaw Pact invasion of Czechoslovakia">Warsaw Pact invasion of Czechoslovakia</a></li> <li><a href="/wiki/17_July_Revolution" title="17 July Revolution">17 July Revolution</a></li> <li><a href="/wiki/1968_Peruvian_coup_d%27%C3%A9tat" title="1968 Peruvian coup d'état">1968 Peruvian coup d'état</a> <ul><li><a href="/wiki/Revolutionary_Government_of_the_Armed_Forces_of_Peru" title="Revolutionary Government of the Armed Forces of Peru">Revolutionary Government</a></li></ul></li> <li><a href="/wiki/1969_Sudanese_coup_d%27%C3%A9tat" title="1969 Sudanese coup d'état">1969 Sudanese coup d'état</a></li> <li><a href="/wiki/1969_Libyan_revolution" title="1969 Libyan revolution">1969 Libyan revolution</a></li> <li><a href="/wiki/Goulash_Communism" title="Goulash Communism">Goulash Communism</a></li> <li><a href="/wiki/Sino-Soviet_border_conflict" title="Sino-Soviet border conflict">Sino-Soviet border conflict</a></li> <li><a href="/wiki/New_People%27s_Army_rebellion" title="New People's Army rebellion">New People's Army rebellion</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">1970s</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/D%C3%A9tente" title="Détente">Détente</a></li> <li><a href="/wiki/Treaty_on_the_Non-Proliferation_of_Nuclear_Weapons" title="Treaty on the Non-Proliferation of Nuclear Weapons">Nuclear Non-Proliferation Treaty</a></li> <li><a href="/wiki/Black_September" title="Black September">Black September</a></li> <li><a href="/wiki/Alcora_Exercise" title="Alcora Exercise">Alcora Exercise</a></li> <li><a href="/wiki/Corrective_Movement_(Syria)" title="Corrective Movement (Syria)">Corrective Movement (Syria)</a></li> <li><a href="/wiki/Western_Sahara_conflict" title="Western Sahara conflict">Western Sahara conflict</a></li> <li><a href="/wiki/Cambodian_Civil_War" title="Cambodian Civil War">Cambodian Civil War</a></li> <li><a href="/wiki/Communist_insurgency_in_Thailand" title="Communist insurgency in Thailand">Communist insurgency in Thailand</a></li> <li><a href="/wiki/1970_Polish_protests" title="1970 Polish protests">1970 Polish protests</a></li> <li><a href="/wiki/Koza_riot" title="Koza riot">Koza riot</a></li> <li><a href="/wiki/Realpolitik" title="Realpolitik">Realpolitik</a></li> <li><a href="/wiki/Ping-pong_diplomacy" title="Ping-pong diplomacy">Ping-pong diplomacy</a></li> <li><a href="/wiki/1971_JVP_insurrection" title="1971 JVP insurrection">1971 JVP insurrection</a></li> <li><a href="/wiki/Corrective_revolution_(Egypt)" title="Corrective revolution (Egypt)">Corrective revolution (Egypt)</a></li> <li><a href="/wiki/1971_Turkish_military_memorandum" title="1971 Turkish military memorandum">1971 Turkish military memorandum</a></li> <li><a href="/wiki/1971_Sudanese_coup_d%27%C3%A9tat" title="1971 Sudanese coup d'état">1971 Sudanese coup d'état</a></li> <li><a href="/wiki/Four_Power_Agreement_on_Berlin" title="Four Power Agreement on Berlin">Four Power Agreement on Berlin</a></li> <li><a href="/wiki/Bangladesh_Liberation_War" title="Bangladesh Liberation War">Bangladesh Liberation War</a></li> <li><a href="/wiki/1972_visit_by_Richard_Nixon_to_China" title="1972 visit by Richard Nixon to China">1972 visit by Richard Nixon to China</a></li> <li><a href="/wiki/South_Yemen#Disputes_with_North_Yemen" title="South Yemen">North Yemen-South Yemen Border conflict of 1972</a></li> <li><a href="/wiki/First_Yemenite_War" title="First Yemenite War">First Yemenite War</a></li> <li><a href="/wiki/Munich_massacre" title="Munich massacre">Munich massacre</a></li> <li><a href="/wiki/1972%E2%80%931975_Bangladesh_insurgency" title="1972–1975 Bangladesh insurgency">1972–1975 Bangladesh insurgency</a></li> <li><a href="/wiki/Eritrean_Civil_Wars" title="Eritrean Civil Wars">Eritrean Civil Wars</a></li> <li><a href="/wiki/1973_Uruguayan_coup_d%27%C3%A9tat" title="1973 Uruguayan coup d'état">1973 Uruguayan coup d'état</a></li> <li><a href="/wiki/1973_Afghan_coup_d%27%C3%A9tat" title="1973 Afghan coup d'état">1973 Afghan coup d'état</a></li> <li><a href="/wiki/1973_Chilean_coup_d%27%C3%A9tat" title="1973 Chilean coup d'état">1973 Chilean coup d'état</a></li> <li><a href="/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a></li> <li><a class="mw-selflink selflink">1973 oil crisis</a></li> <li><a href="/wiki/Carnation_Revolution" title="Carnation Revolution">Carnation Revolution</a></li> <li><a href="/wiki/Spanish_transition_to_democracy" title="Spanish transition to democracy">Spanish transition to democracy</a></li> <li><a href="/wiki/Metapolitefsi" title="Metapolitefsi">Metapolitefsi</a></li> <li><a href="/wiki/Strategic_Arms_Limitation_Talks" title="Strategic Arms Limitation Talks">Strategic Arms Limitation Talks</a></li> <li><a href="/wiki/Second_Iraqi%E2%80%93Kurdish_War" title="Second Iraqi–Kurdish War">Second Iraqi–Kurdish War</a></li> <li><a href="/wiki/Turkish_invasion_of_Cyprus" title="Turkish invasion of Cyprus">Turkish invasion of Cyprus</a></li> <li><a href="/wiki/15_August_1975_Bangladeshi_coup_d%27%C3%A9tat" title="15 August 1975 Bangladeshi coup d'état">15 August 1975 Bangladeshi coup d'état</a></li> <li><a href="/wiki/3_November_1975_Bangladeshi_coup_d%27%C3%A9tat" title="3 November 1975 Bangladeshi coup d'état">Siege of Dhaka (1975)</a></li> <li><a href="/wiki/7_November_1975_Bangladeshi_coup_d%27%C3%A9tat" title="7 November 1975 Bangladeshi coup d'état">Sipahi-Janata revolution</a></li> <li><a href="/wiki/Angolan_Civil_War" title="Angolan Civil War">Angolan Civil War</a></li> <li><a href="/wiki/Cambodian_genocide" title="Cambodian genocide">Cambodian genocide</a></li> <li><a href="/wiki/June_1976_protests" title="June 1976 protests">June 1976 protests</a></li> <li><a href="/wiki/Mozambican_Civil_War" title="Mozambican Civil War">Mozambican Civil War</a></li> <li><a href="/wiki/Oromo_conflict" title="Oromo conflict">Oromo conflict</a></li> <li><a href="/wiki/Ogaden_War" title="Ogaden War">Ogaden War</a></li> <li><a href="/wiki/1978_Somali_coup_attempt" title="1978 Somali coup attempt">1978 Somali coup attempt</a></li> <li><a href="/wiki/Western_Sahara_War" title="Western Sahara War">Western Sahara War</a></li> <li><a href="/wiki/Ethiopian_Civil_War" title="Ethiopian Civil War">Ethiopian Civil War</a></li> <li><a href="/wiki/Lebanese_Civil_War" title="Lebanese Civil War">Lebanese Civil War</a></li> <li><a href="/wiki/Sino-Albanian_split" title="Sino-Albanian split">Sino-Albanian split</a></li> <li><a href="/wiki/Third_Indochina_War" title="Third Indochina War">Third Indochina War</a></li> <li><a href="/wiki/Cambodian%E2%80%93Vietnamese_War" title="Cambodian–Vietnamese War">Cambodian–Vietnamese War</a></li> <li><a href="/wiki/Cambodian_conflict_(1979%E2%80%931998)" title="Cambodian conflict (1979–1998)">Cambodian conflict</a></li> <li><a href="/wiki/Operation_Condor" title="Operation Condor">Operation Condor</a></li> <li><a href="/wiki/Dirty_War" title="Dirty War">Dirty War (Argentina)</a></li> <li><a href="/wiki/1976_Argentine_coup_d%27%C3%A9tat" title="1976 Argentine coup d'état">1976 Argentine coup d'état</a></li> <li><a href="/wiki/Egyptian%E2%80%93Libyan_War" title="Egyptian–Libyan War">Egyptian–Libyan War</a></li> <li><a href="/wiki/German_Autumn" title="German Autumn">German Autumn</a></li> <li><a href="/wiki/Korean_Air_Lines_Flight_902" title="Korean Air Lines Flight 902">Korean Air Lines Flight 902</a></li> <li><a href="/wiki/Nicaraguan_Revolution" title="Nicaraguan Revolution">Nicaraguan Revolution</a></li> <li><a href="/wiki/Uganda%E2%80%93Tanzania_War" title="Uganda–Tanzania War">Uganda–Tanzania War</a></li> <li><a href="/wiki/NDF_Rebellion" title="NDF Rebellion">NDF Rebellion</a></li> <li><a href="/wiki/Chadian%E2%80%93Libyan_War" title="Chadian–Libyan War">Chadian–Libyan War</a></li> <li><a href="/wiki/Second_Yemenite_War" title="Second Yemenite War">Second Yemenite War</a></li> <li><a href="/wiki/Grand_Mosque_seizure" title="Grand Mosque seizure">Grand Mosque seizure</a></li> <li><a href="/wiki/Iranian_revolution" title="Iranian revolution">Iranian revolution</a></li> <li><a href="/wiki/Saur_Revolution" title="Saur Revolution">Saur Revolution</a></li> <li><a href="/wiki/Sino-Vietnamese_War" title="Sino-Vietnamese War">Sino-Vietnamese War</a></li> <li><a href="/wiki/New_Jewel_Movement" title="New Jewel Movement">New Jewel Movement</a></li> <li><a href="/wiki/1979_Herat_uprising" title="1979 Herat uprising">1979 Herat uprising</a></li> <li><a href="/wiki/Seven_Days_to_the_River_Rhine" title="Seven Days to the River Rhine">Seven Days to the River Rhine</a></li> <li><a href="/wiki/Struggle_against_political_abuse_of_psychiatry_in_the_Soviet_Union" title="Struggle against political abuse of psychiatry in the Soviet Union">Struggle against political abuse of psychiatry in the Soviet Union</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">1980s</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Salvadoran_Civil_War" title="Salvadoran Civil War">Salvadoran Civil War</a></li> <li><a href="/wiki/Soviet%E2%80%93Afghan_War" title="Soviet–Afghan War">Soviet–Afghan War</a></li> <li><a href="/wiki/1980_Summer_Olympics_boycott" title="1980 Summer Olympics boycott">1980</a> and <a href="/wiki/1984_Summer_Olympics_boycott" title="1984 Summer Olympics boycott">1984 Summer Olympics boycotts</a></li> <li><a href="/wiki/Gera_Demands" title="Gera Demands">Gera Demands</a></li> <li><a href="/wiki/Peruvian_Civil_War_of_1980%E2%80%932000" title="Peruvian Civil War of 1980–2000">Peruvian Revolution</a></li> <li><a href="/wiki/Gda%C5%84sk_Agreement" title="Gdańsk Agreement">Gdańsk Agreement</a> <ul><li><a href="/wiki/Solidarity_(Polish_trade_union)" title="Solidarity (Polish trade union)">Solidarity</a></li></ul></li> <li><a href="/wiki/Eritrean_Civil_Wars" title="Eritrean Civil Wars">Eritrean Civil Wars</a></li> <li><a href="/wiki/1980_Turkish_coup_d%27%C3%A9tat" title="1980 Turkish coup d'état">1980 Turkish coup d'état</a></li> <li><a href="/wiki/Ugandan_Bush_War" title="Ugandan Bush War">Ugandan Bush War</a></li> <li><a href="/wiki/Gulf_of_Sidra_incident_(1981)" title="Gulf of Sidra incident (1981)">Gulf of Sidra incident</a></li> <li><a href="/wiki/Martial_law_in_Poland" title="Martial law in Poland">Martial law in Poland</a></li> <li><a href="/wiki/Casamance_conflict" title="Casamance conflict">Casamance conflict</a></li> <li><a href="/wiki/Falklands_War" title="Falklands War">Falklands War</a></li> <li><a href="/wiki/1982_Ethiopian%E2%80%93Somali_Border_War" title="1982 Ethiopian–Somali Border War">1982 Ethiopian–Somali Border War</a></li> <li><a href="/wiki/Ndogboyosoi_War" title="Ndogboyosoi War">Ndogboyosoi War</a></li> <li><a href="/wiki/United_States_invasion_of_Grenada" title="United States invasion of Grenada">United States invasion of Grenada</a></li> <li><a href="/wiki/Able_Archer_83" title="Able Archer 83">Able Archer 83</a></li> <li><a href="/wiki/Strategic_Defense_Initiative" title="Strategic Defense Initiative">Star Wars</a></li> <li><a href="/wiki/Geneva_Summit_(1985)" title="Geneva Summit (1985)">1985 Geneva Summit</a></li> <li><a href="/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a></li> <li><a href="/wiki/Somali_Rebellion" title="Somali Rebellion">Somali Rebellion</a></li> <li><a href="/wiki/Reykjav%C3%ADk_Summit" title="Reykjavík Summit">Reykjavík Summit</a></li> <li><a href="/wiki/1986_Black_Sea_incident" title="1986 Black Sea incident">1986 Black Sea incident</a></li> <li><a href="/wiki/South_Yemen_civil_war" title="South Yemen civil war">South Yemen civil war</a></li> <li><a href="/wiki/Toyota_War" title="Toyota War">Toyota War</a></li> <li><a href="/wiki/1987_Lieyu_massacre" title="1987 Lieyu massacre">1987 Lieyu massacre</a></li> <li><a href="/wiki/Operation_Denver" title="Operation Denver">Operation Denver</a></li> <li><a href="/wiki/1987%E2%80%931989_JVP_insurrection" title="1987–1989 JVP insurrection">1987–1989 JVP insurrection</a></li> <li><a href="/wiki/Lord%27s_Resistance_Army_insurgency" title="Lord's Resistance Army insurgency">Lord's Resistance Army insurgency</a></li> <li><a href="/wiki/1988_Black_Sea_bumping_incident" title="1988 Black Sea bumping incident">1988 Black Sea bumping incident</a></li> <li><a href="/wiki/8888_Uprising" title="8888 Uprising">8888 Uprising</a></li> <li><a href="/wiki/History_of_Solidarity" title="History of Solidarity">Solidarity</a> (<a href="/wiki/Soviet_reaction_to_the_Polish_crisis_of_1980%E2%80%931981" title="Soviet reaction to the Polish crisis of 1980–1981">Soviet reaction</a>)</li> <li><a href="/wiki/Contras" title="Contras">Contras</a></li> <li><a href="/wiki/Central_American_crisis" title="Central American crisis">Central American crisis</a></li> <li><a href="/wiki/Operation_RYAN" title="Operation RYAN">Operation RYAN</a></li> <li><a href="/wiki/Korean_Air_Lines_Flight_007" title="Korean Air Lines Flight 007">Korean Air Lines Flight 007</a></li> <li><a href="/wiki/People_Power_Revolution" title="People Power Revolution">People Power Revolution</a></li> <li><a href="/wiki/Glasnost" title="Glasnost">Glasnost</a></li> <li><a href="/wiki/Perestroika" title="Perestroika">Perestroika</a></li> <li><a href="/wiki/Bougainville_conflict" title="Bougainville conflict">Bougainville conflict</a></li> <li><a href="/wiki/First_Nagorno-Karabakh_War" title="First Nagorno-Karabakh War">First Nagorno-Karabakh War</a></li> <li><a href="/wiki/Afghan_Civil_War_(1989%E2%80%931992)" title="Afghan Civil War (1989–1992)">Afghan Civil War</a></li> <li><a href="/wiki/United_States_invasion_of_Panama" title="United States invasion of Panama">United States invasion of Panama</a></li> <li><a href="/wiki/1988_Polish_strikes" title="1988 Polish strikes">1988 Polish strikes</a></li> <li><a href="/wiki/Polish_Round_Table_Agreement" title="Polish Round Table Agreement">Polish Round Table Agreement</a></li> <li><a href="/wiki/1989_Tiananmen_Square_protests_and_massacre" title="1989 Tiananmen Square protests and massacre">1989 Tiananmen Square protests and massacre</a></li> <li><a href="/wiki/Revolutions_of_1989" title="Revolutions of 1989">Revolutions of 1989</a></li> <li><a href="/wiki/Fall_of_the_Berlin_Wall" title="Fall of the Berlin Wall">Fall of the Berlin Wall</a></li> <li><a href="/wiki/Fall_of_the_inner_German_border" title="Fall of the inner German border">Fall of the inner German border</a></li> <li><a href="/wiki/Velvet_Revolution" title="Velvet Revolution">Velvet Revolution</a></li> <li><a href="/wiki/Romanian_revolution" title="Romanian revolution">Romanian Revolution</a></li> <li><a href="/wiki/Peaceful_Revolution" title="Peaceful Revolution">Peaceful Revolution</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">1990s</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Mongolian_Revolution_of_1990" title="Mongolian Revolution of 1990">Mongolian Revolution of 1990</a></li> <li><a href="/wiki/Min_Ping_Yu_No._5540_incident" title="Min Ping Yu No. 5540 incident">Min Ping Yu No. 5540 incident</a></li> <li><a href="/wiki/Gulf_War" title="Gulf War">Gulf War</a></li> <li><a href="/wiki/Min_Ping_Yu_No._5202" title="Min Ping Yu No. 5202">Min Ping Yu No. 5202</a></li> <li><a href="/wiki/German_reunification" title="German reunification">German reunification</a></li> <li><a href="/wiki/Yemeni_unification" title="Yemeni unification">Yemeni unification</a></li> <li><a href="/wiki/Fall_of_communism_in_Albania" title="Fall of communism in Albania">Fall of communism in Albania</a></li> <li><a href="/wiki/Breakup_of_Yugoslavia" title="Breakup of Yugoslavia">Breakup of Yugoslavia</a></li> <li><a href="/wiki/Dissolution_of_the_Soviet_Union" title="Dissolution of the Soviet Union">Dissolution of the Soviet Union</a> <ul><li><a href="/wiki/1991_Soviet_coup_attempt" title="1991 Soviet coup attempt">1991 August Coup</a></li></ul></li> <li><a href="/wiki/Dissolution_of_Czechoslovakia" title="Dissolution of Czechoslovakia">Dissolution of Czechoslovakia</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;"><a href="/wiki/Frozen_conflict" title="Frozen conflict">Frozen conflicts</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abkhazia_conflict" title="Abkhazia conflict">Abkhazia</a></li> <li><a href="/wiki/Political_status_of_Taiwan" title="Political status of Taiwan">China-Taiwan</a></li> <li><a href="/wiki/Division_of_Korea" title="Division of Korea">Korea</a></li> <li><a href="/wiki/Political_status_of_Kosovo" title="Political status of Kosovo">Kosovo</a></li> <li><a href="/wiki/Georgian%E2%80%93Ossetian_conflict" title="Georgian–Ossetian conflict">South Ossetia</a></li> <li><a href="/wiki/Transnistria_War" title="Transnistria War">Transnistria</a></li> <li><a href="/wiki/Sino-Indian_border_dispute" title="Sino-Indian border dispute">Sino-Indian border dispute</a></li> <li><a href="/wiki/North_Borneo_dispute" title="North Borneo dispute">North Borneo dispute</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Foreign policy</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Truman_Doctrine" title="Truman Doctrine">Truman Doctrine</a></li> <li><a href="/wiki/Containment" title="Containment">Containment</a></li> <li><a href="/wiki/Eisenhower_Doctrine" title="Eisenhower Doctrine">Eisenhower Doctrine</a></li> <li><a href="/wiki/Domino_theory" title="Domino theory">Domino theory</a></li> <li><a href="/wiki/Hallstein_Doctrine" title="Hallstein Doctrine">Hallstein Doctrine</a></li> <li><a href="/wiki/Kennedy_Doctrine" title="Kennedy Doctrine">Kennedy Doctrine</a></li> <li><a href="/wiki/Peaceful_coexistence" title="Peaceful coexistence">Peaceful coexistence</a></li> <li><a href="/wiki/Ostpolitik" title="Ostpolitik">Ostpolitik</a></li> <li><a href="/wiki/Johnson_Doctrine" title="Johnson Doctrine">Johnson Doctrine</a></li> <li><a href="/wiki/Brezhnev_Doctrine" title="Brezhnev Doctrine">Brezhnev Doctrine</a></li> <li><a href="/wiki/Nixon_Doctrine" title="Nixon Doctrine">Nixon Doctrine</a></li> <li><a href="/wiki/Ulbricht_Doctrine" title="Ulbricht Doctrine">Ulbricht Doctrine</a></li> <li><a href="/wiki/Carter_Doctrine" title="Carter Doctrine">Carter Doctrine</a></li> <li><a href="/wiki/Reagan_Doctrine" title="Reagan Doctrine">Reagan Doctrine</a></li> <li><a href="/wiki/Rollback" title="Rollback">Rollback</a></li> <li><a href="/wiki/Kinmen_Agreement" title="Kinmen Agreement">Kinmen Agreement</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Ideologies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0;;wide"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;"><a href="/wiki/Capitalism" title="Capitalism">Capitalism</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Liberalism" title="Liberalism">Liberalism</a></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago school</a></li> <li><a href="/wiki/Conservatism" title="Conservatism">Conservatism</a> <ul><li><a href="/wiki/Conservatism_in_the_United_States" title="Conservatism in the United States">American conservatism</a></li></ul></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesianism</a></li> <li><a href="/wiki/Libertarianism" title="Libertarianism">Libertarianism</a></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarism</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical economics</a></li> <li><a href="/wiki/Reaganomics" title="Reaganomics">Reaganomics</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side economics</a></li> <li><a href="/wiki/Democratic_capitalism" title="Democratic capitalism">Democratic capitalism</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;"><a href="/wiki/Socialism" title="Socialism">Socialism</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Communism" title="Communism">Communism</a></li> <li><a href="/wiki/Marxism%E2%80%93Leninism" title="Marxism–Leninism">Marxism–Leninism</a></li> <li><a href="/wiki/Politics_of_Fidel_Castro" title="Politics of Fidel Castro">Castroism</a></li> <li><a href="/wiki/Eurocommunism" title="Eurocommunism">Eurocommunism</a></li> <li><a href="/wiki/Guevarism" title="Guevarism">Guevarism</a></li> <li><a href="/wiki/Hoxhaism" title="Hoxhaism">Hoxhaism</a></li> <li><a href="/wiki/Juche" title="Juche">Juche</a></li> <li><a href="/wiki/Ho_Chi_Minh_Thought" title="Ho Chi Minh Thought">Ho Chi Minh Thought</a></li> <li><a href="/wiki/Maoism" title="Maoism">Maoism</a></li> <li><a href="/wiki/Trotskyism" title="Trotskyism">Trotskyism</a></li> <li><a href="/wiki/Stalinism" title="Stalinism">Stalinism</a></li> <li><a href="/wiki/Titoism" title="Titoism">Titoism</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Other</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Imperialism" title="Imperialism">Imperialism</a></li> <li><a href="/wiki/Anti-imperialism" title="Anti-imperialism">Anti-imperialism</a></li> <li><a href="/wiki/Nationalism" title="Nationalism">Nationalism</a></li> <li><a href="/wiki/Ultranationalism" title="Ultranationalism">Ultranationalism</a></li> <li><a href="/wiki/Chauvinism" title="Chauvinism">Chauvinism</a></li> <li><a href="/wiki/Ethnic_nationalism" title="Ethnic nationalism">Ethnic nationalism</a></li> <li><a href="/wiki/Racism" title="Racism">Racism</a></li> <li><a href="/wiki/Zionism" title="Zionism">Zionism</a></li> <li><a href="/wiki/Anti-Zionism" title="Anti-Zionism">Anti-Zionism</a></li> <li><a href="/wiki/Fascism" title="Fascism">Fascism</a></li> <li><a href="/wiki/Neo-Nazism" title="Neo-Nazism">Neo-Nazism</a></li> <li><a href="/wiki/Islamism" title="Islamism">Islamism</a></li> <li><a href="/wiki/Totalitarianism" title="Totalitarianism">Totalitarianism</a></li> <li><a href="/wiki/Authoritarianism" title="Authoritarianism">Authoritarianism</a></li> <li><a href="/wiki/Autocracy" title="Autocracy">Autocracy</a></li> <li><a href="/wiki/Liberal_democracy" title="Liberal democracy">Liberal democracy</a></li> <li><a href="/wiki/Illiberal_democracy" title="Illiberal democracy">Illiberal democracy</a></li> <li><a href="/wiki/Guided_democracy" title="Guided democracy">Guided democracy</a></li> <li><a href="/wiki/Social_democracy" title="Social democracy">Social democracy</a></li> <li><a href="/wiki/Third-worldism" title="Third-worldism">Third-worldism</a></li> <li><a href="/wiki/White_supremacy" title="White supremacy">White supremacy</a></li> <li><a href="/wiki/White_nationalism" title="White nationalism">White nationalism</a></li> <li><a href="/wiki/White_supremacy#White_separatism" title="White supremacy">White separatism</a></li> <li><a href="/wiki/Apartheid" title="Apartheid">Apartheid</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Organizations</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/NATO" title="NATO">NATO</a></li> <li><a href="/wiki/Southeast_Asia_Treaty_Organization" title="Southeast Asia Treaty Organization">SEATO</a></li> <li><a href="/wiki/Central_Treaty_Organization" title="Central Treaty Organization">METO</a></li> <li><a href="/wiki/European_Economic_Community" title="European Economic Community">EEC</a></li> <li><a href="/wiki/Warsaw_Pact" title="Warsaw Pact">Warsaw Pact</a></li> <li><a href="/wiki/Comecon" title="Comecon">Comecon</a></li> <li><a href="/wiki/Non-Aligned_Movement" title="Non-Aligned Movement">Non-Aligned Movement</a></li> <li><a href="/wiki/Neutral_and_Non-Aligned_European_States" title="Neutral and Non-Aligned European States">NN States</a></li> <li><a href="/wiki/ASEAN" title="ASEAN">ASEAN</a></li> <li><a href="/wiki/South_Asian_Association_for_Regional_Cooperation" title="South Asian Association for Regional Cooperation">SAARC</a></li> <li><a href="/wiki/Safari_Club" title="Safari Club">Safari Club</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Propaganda</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0;;wide"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Pro-communist</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Active_measures" title="Active measures">Active measures</a></li> <li><a href="/wiki/Izvestia" title="Izvestia">Izvestia</a></li> <li><a href="/wiki/Neues_Deutschland" title="Neues Deutschland">Neues Deutschland</a></li> <li><a href="/wiki/Pravda" title="Pravda">Pravda</a></li> <li><a href="/wiki/Radio_Moscow" title="Radio Moscow">Radio Moscow</a></li> <li><a href="/wiki/Rud%C3%A9_pr%C3%A1vo" title="Rudé právo">Rudé právo</a></li> <li><a href="/wiki/Trybuna_Ludu" title="Trybuna Ludu">Trybuna Ludu</a></li> <li><a href="/wiki/TASS" title="TASS">TASS</a></li> <li><a href="/wiki/Russian_Life" title="Russian Life">Soviet Life</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Pro-Western</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Amerika_(magazine)" title="Amerika (magazine)">Amerika</a></li> <li><a href="/wiki/Crusade_for_Freedom" title="Crusade for Freedom">Crusade for Freedom</a></li> <li><a href="/wiki/Paix_et_Libert%C3%A9" title="Paix et Liberté">Paix et Liberté</a></li> <li><a href="/wiki/Radio_Free_Europe/Radio_Liberty" title="Radio Free Europe/Radio Liberty">Radio Free Europe/Radio Liberty</a></li></ul> <ul><li><a href="/wiki/Red_Scare" title="Red Scare">Red Scare</a></li> <li><a href="/wiki/Voice_of_America" title="Voice of America">Voice of America</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Technological competition</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Arms_race" title="Arms race">Arms race</a></li> <li><a href="/wiki/Nuclear_arms_race" title="Nuclear arms race">Nuclear arms race</a></li> <li><a href="/wiki/Space_Race" title="Space Race">Space Race</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Historians</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Gar_Alperovitz" title="Gar Alperovitz">Gar Alperovitz</a></li> <li><a href="/wiki/Thomas_A._Bailey" title="Thomas A. Bailey">Thomas A. Bailey</a></li> <li><a href="/wiki/Michael_Beschloss" title="Michael Beschloss">Michael Beschloss</a></li> <li><a href="/wiki/Archie_Brown_(historian)" title="Archie Brown (historian)">Archie Brown</a></li> <li><a href="/wiki/Warren_H._Carroll" title="Warren H. Carroll">Warren H. Carroll</a></li> <li><a href="/wiki/Adrian_Cioroianu" title="Adrian Cioroianu">Adrian Cioroianu</a></li> <li><a href="/wiki/John_Costello_(historian)" title="John Costello (historian)">John Costello</a></li> <li><a href="/wiki/Michael_Cox_(academic)" title="Michael Cox (academic)">Michael Cox</a></li> <li><a href="/wiki/Nicholas_J._Cull" title="Nicholas J. Cull">Nicholas J. Cull</a></li> <li><a href="/wiki/Norman_Davies" title="Norman Davies">Norman Davies</a></li> <li><a href="/wiki/Willem_Drees" title="Willem Drees">Willem Drees</a></li> <li><a href="/wiki/Robert_D._English" title="Robert D. English">Robert D. English</a></li> <li><a href="/wiki/Herbert_Feis" title="Herbert Feis">Herbert Feis</a></li> <li><a href="/wiki/Robert_Hugh_Ferrell" title="Robert Hugh Ferrell">Robert Hugh Ferrell</a></li> <li><a href="/wiki/Andr%C3%A9_Fontaine" title="André Fontaine">André Fontaine</a></li> <li><a href="/wiki/Anneli_Ute_Gabanyi" title="Anneli Ute Gabanyi">Anneli Ute Gabanyi</a></li> <li><a href="/wiki/John_Lewis_Gaddis" title="John Lewis Gaddis">John Lewis Gaddis</a></li> <li><a href="/wiki/Lloyd_Gardner" title="Lloyd Gardner">Lloyd Gardner</a></li> <li><a href="/wiki/Timothy_Garton_Ash" title="Timothy Garton Ash">Timothy Garton Ash</a></li> <li><a href="/wiki/Gabriel_Gorodetsky" title="Gabriel Gorodetsky">Gabriel Gorodetsky</a></li> <li><a href="/wiki/Fred_Halliday" title="Fred Halliday">Fred Halliday</a></li> <li><a href="/wiki/Jussi_Hanhim%C3%A4ki" title="Jussi Hanhimäki">Jussi Hanhimäki</a></li> <li><a href="/wiki/John_Earl_Haynes" title="John Earl Haynes">John Earl Haynes</a></li> <li><a href="/wiki/Patrick_J._Hearden" title="Patrick J. Hearden">Patrick J. Hearden</a></li> <li><a href="/wiki/Tvrtko_Jakovina" title="Tvrtko Jakovina">Tvrtko Jakovina</a></li> <li><a href="/wiki/Tony_Judt" title="Tony Judt">Tony Judt</a></li> <li><a href="/wiki/Harvey_Klehr" title="Harvey Klehr">Harvey Klehr</a></li> <li><a href="/wiki/Gabriel_Kolko" title="Gabriel Kolko">Gabriel Kolko</a></li> <li><a href="/wiki/Walter_LaFeber" title="Walter LaFeber">Walter LaFeber</a></li> <li><a href="/wiki/Walter_Laqueur" title="Walter Laqueur">Walter Laqueur</a></li> <li><a href="/wiki/Melvyn_P._Leffler" title="Melvyn P. Leffler">Melvyn P. Leffler</a></li> <li><a href="/wiki/Geir_Lundestad" title="Geir Lundestad">Geir Lundestad</a></li> <li><a href="/wiki/Vojtech_Mastny_(historian)" title="Vojtech Mastny (historian)">Vojtech Mastny</a></li> <li><a href="/wiki/Jack_F._Matlock_Jr." title="Jack F. Matlock Jr.">Jack F. Matlock Jr.</a></li> <li><a href="/wiki/Thomas_J._McCormick" title="Thomas J. McCormick">Thomas J. McCormick</a></li> <li><a href="/wiki/Timothy_Naftali" title="Timothy Naftali">Timothy Naftali</a></li> <li><a href="/wiki/Marius_Oprea" title="Marius Oprea">Marius Oprea</a></li> <li><a href="/wiki/David_S._Painter" title="David S. Painter">David S. Painter</a></li> <li><a href="/wiki/William_B._Pickett" title="William B. Pickett">William B. Pickett</a></li> <li><a href="/wiki/Ronald_E._Powaski" title="Ronald E. Powaski">Ronald E. Powaski</a></li> <li><a href="/wiki/Yakov_M._Rabkin" title="Yakov M. Rabkin">Yakov M. Rabkin</a></li> <li><a href="/wiki/M._E._Sarotte" title="M. E. Sarotte">M. E. Sarotte</a></li> <li><a href="/wiki/Arthur_M._Schlesinger_Jr." title="Arthur M. Schlesinger Jr.">Arthur M. Schlesinger Jr.</a></li> <li><a href="/wiki/Ellen_Schrecker" title="Ellen Schrecker">Ellen Schrecker</a></li> <li><a href="/wiki/Giles_Scott-Smith" title="Giles Scott-Smith">Giles Scott-Smith</a></li> <li><a href="/wiki/Shen_Zhihua" title="Shen Zhihua">Shen Zhihua</a></li> <li><a href="/wiki/Timothy_Snyder" title="Timothy Snyder">Timothy Snyder</a></li> <li><a href="/wiki/Athan_Theoharis" title="Athan Theoharis">Athan Theoharis</a></li> <li><a href="/wiki/Andrew_Thorpe" title="Andrew Thorpe">Andrew Thorpe</a></li> <li><a href="/wiki/Vladimir_Tism%C4%83neanu" title="Vladimir Tismăneanu">Vladimir Tismăneanu</a></li> <li><a href="/wiki/Patrick_Vaughan" title="Patrick Vaughan">Patrick Vaughan</a></li> <li><a href="/wiki/Alex_von_Tunzelmann" title="Alex von Tunzelmann">Alex von Tunzelmann</a></li> <li><a href="/wiki/Odd_Arne_Westad" title="Odd Arne Westad">Odd Arne Westad</a></li> <li><a href="/wiki/William_Appleman_Williams" title="William Appleman Williams">William Appleman Williams</a></li> <li><a href="/wiki/Jonathan_Reed_Winkler" title="Jonathan Reed Winkler">Jonathan Reed Winkler</a></li> <li><a href="/wiki/Rudolph_Winnacker" title="Rudolph Winnacker">Rudolph Winnacker</a></li> <li><a href="/wiki/Ken_Young" title="Ken Young">Ken Young</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Espionage and intelligence</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_Eastern_Bloc_agents_in_the_United_States" title="List of Eastern Bloc agents in the United States">List of Eastern Bloc agents in the United States</a></li> <li><a href="/wiki/Soviet_espionage_in_the_United_States" title="Soviet espionage in the United States">Soviet espionage in the United States</a></li> <li><a href="/wiki/Russian_espionage_in_the_United_States" title="Russian espionage in the United States">Russian espionage in the United States</a></li> <li><a href="/wiki/American_espionage_in_the_Soviet_Union_and_Russian_Federation" title="American espionage in the Soviet Union and Russian Federation">American espionage in the Soviet Union and Russian Federation</a></li> <li><a href="/wiki/CIA_and_the_Cultural_Cold_War" title="CIA and the Cultural Cold War">CIA and the Cultural Cold War</a></li> <li><a href="/wiki/Central_Intelligence_Agency" title="Central Intelligence Agency">CIA</a></li> <li><a href="/wiki/MI5" title="MI5">MI5</a></li> <li><a href="/wiki/MI6" title="MI6">MI6</a></li> <li><a href="/wiki/United_States_involvement_in_regime_change" title="United States involvement in regime change">United States involvement in regime change</a></li> <li><a href="/wiki/Soviet_involvement_in_regime_change" title="Soviet involvement in regime change">Soviet involvement in regime change</a></li> <li><a href="/wiki/Ministry_of_Internal_Affairs_(Soviet_Union)" title="Ministry of Internal Affairs (Soviet Union)">MVD</a></li> <li><a href="/wiki/KGB" title="KGB">KGB</a></li> <li><a href="/wiki/Stasi" title="Stasi">Stasi</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">See also</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Allied_intervention_in_the_Russian_Civil_War" title="Allied intervention in the Russian Civil War">Allied intervention in the Russian Civil War</a></li> <li><a href="/wiki/Soviet_Union%E2%80%93United_States_relations" title="Soviet Union–United States relations">Soviet Union–United States relations</a></li> <li><a href="/wiki/List_of_Soviet_Union%E2%80%93United_States_summits" title="List of Soviet Union–United States summits">Soviet Union–United States summits</a></li> <li><a href="/wiki/Russia%E2%80%93NATO_relations" title="Russia–NATO relations">Russia–NATO relations</a></li> <li><a href="/wiki/War_on_terror" title="War on terror">War on terror</a></li> <li><a href="/wiki/Brinkmanship#Cold_War" title="Brinkmanship">Brinkmanship</a></li> <li><a href="/wiki/Second_Cold_War" title="Second Cold War">Second Cold War</a></li> <li><a href="/wiki/Russian_Revolution" title="Russian Revolution">Russian Revolution</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="background-color:#DCDCDC;color:inherit;font-weight:bold;"><div> <ul><li><a href="/wiki/Category:Cold_War" title="Category:Cold War">Category</a></li> <li><a href="/wiki/List_of_conflicts_related_to_the_Cold_War" title="List of conflicts related to the Cold War">List of conflicts</a></li> <li><a href="/wiki/Timeline_of_the_Cold_War" title="Timeline of the Cold War">Timeline</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Petroleum_industry" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Petroleum_industry" title="Template:Petroleum industry"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Petroleum_industry" title="Template talk:Petroleum industry"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Petroleum_industry" title="Special:EditPage/Template:Petroleum industry"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Petroleum_industry" style="font-size:114%;margin:0 4em"><a href="/wiki/Petroleum_industry" title="Petroleum industry">Petroleum industry</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Petroleum" title="Petroleum">Petroleum</a></li> <li><a href="/wiki/Primary_energy" title="Primary energy">Primary energy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/wiki/Benchmark_(crude_oil)" title="Benchmark (crude oil)">Benchmarks</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Argus_Sour_Crude_Index" title="Argus Sour Crude Index">Argus Sour</a></li> <li><a href="/wiki/Bonny_Light_oil" title="Bonny Light oil">Bonny Light</a></li> <li><a href="/wiki/Brent_Crude" title="Brent Crude">Brent</a></li> <li><a href="/wiki/Dubai_Crude" title="Dubai Crude">Dubai</a></li> <li><a href="/wiki/Indian_Basket" title="Indian Basket">Indian Basket</a></li> <li><a href="/wiki/Indonesian_Crude_Price" title="Indonesian Crude Price">Indonesian</a></li> <li><a href="/wiki/Isthmus-34_Light" title="Isthmus-34 Light">Isthmus-34 Light</a></li> <li><a href="/wiki/Japan_Crude_Cocktail" title="Japan Crude Cocktail">Japan Cocktail</a></li> <li><a href="/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket</a></li> <li><a href="/wiki/Tapis_crude" title="Tapis crude">Tapis</a></li> <li><a href="/wiki/Urals_oil" title="Urals oil">Urals</a></li> <li><a href="/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a></li> <li><a href="/wiki/Western_Canadian_Select" title="Western Canadian Select">Western Canadian Select</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Data</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left; font-weight:normal;">Natural gas</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_countries_by_natural_gas_consumption" title="List of countries by natural gas consumption">Consumption</a></li> <li><a href="/wiki/List_of_countries_by_natural_gas_production" title="List of countries by natural gas production">Production</a></li> <li><a href="/wiki/List_of_countries_by_natural_gas_proven_reserves" title="List of countries by natural gas proven reserves">Reserves</a></li> <li><a href="/wiki/List_of_countries_by_natural_gas_imports" title="List of countries by natural gas imports">Imports</a></li> <li><a href="/wiki/List_of_countries_by_natural_gas_exports" title="List of countries by natural gas exports">Exports</a></li> <li><a href="/wiki/Natural_gas_prices" title="Natural gas prices">Price</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left; font-weight:normal;">Petroleum</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_countries_by_oil_consumption" title="List of countries by oil consumption">Consumption</a></li> <li><a href="/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Production</a></li> <li><a href="/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Reserves</a></li> <li><a href="/wiki/List_of_countries_by_oil_imports" title="List of countries by oil imports">Imports</a></li> <li><a href="/wiki/List_of_countries_by_oil_exports" title="List of countries by oil exports">Exports</a></li> <li><a href="/wiki/Posted_oil_price" title="Posted oil price">Posted oil price</a></li> <li><a href="/wiki/Price_of_oil" title="Price of oil">Price</a> <ul><li><a href="/wiki/Gasoline_and_diesel_usage_and_pricing" title="Gasoline and diesel usage and pricing">of gasoline and diesel</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/wiki/Hydrocarbon_exploration" title="Hydrocarbon exploration">Exploration</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Core_sample" title="Core sample">Core sampling</a></li> <li><a href="/wiki/Exploration_geophysics" title="Exploration geophysics">Geophysics</a></li> <li><a href="/wiki/Integrated_asset_modelling" title="Integrated asset modelling">Integrated asset modelling</a></li> <li><a href="/wiki/Petroleum_engineering" title="Petroleum engineering">Petroleum engineering</a> <ul><li><a href="/wiki/Reservoir_simulation" title="Reservoir simulation">Reservoir simulation</a></li> <li><a href="/wiki/Reservoir_modeling" title="Reservoir modeling">Reservoir modeling</a></li></ul></li> <li><a href="/wiki/Petroleum_geology" title="Petroleum geology">Petroleum geology</a></li> <li><a href="/wiki/Petrophysics" title="Petrophysics">Petrophysics</a></li> <li><a href="/wiki/Reflection_seismology" title="Reflection seismology">Reflection seismology</a> <ul><li><a href="/wiki/Seismic_inversion" title="Seismic inversion">Seismic inversion</a></li></ul></li> <li><a href="/wiki/Seismic_source" title="Seismic source">Seismic source</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/wiki/Oil_well" title="Oil well">Drilling</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Blowout_(well_drilling)" title="Blowout (well drilling)">Blowout</a></li> <li><a href="/wiki/Completion_(oil_and_gas_wells)" title="Completion (oil and gas wells)">Completion</a> <ul><li><a href="/wiki/Squeeze_job" title="Squeeze job">Squeeze job</a></li></ul></li> <li><a href="/wiki/Differential_sticking" title="Differential sticking">Differential sticking</a></li> <li><a href="/wiki/Directional_drilling" title="Directional drilling">Directional drilling</a> <ul><li><a href="/wiki/Geosteering" title="Geosteering">Geosteering</a></li></ul></li> <li><a href="/wiki/Drill_stem_test" title="Drill stem test">Drill stem test</a></li> <li><a href="/wiki/Drilling_engineering" title="Drilling engineering">Drilling engineering</a></li> <li><a href="/wiki/Drilling_fluid" title="Drilling fluid">Drilling fluid</a> <ul><li><a href="/wiki/Drilling_fluid_invasion" title="Drilling fluid invasion">invasion</a></li></ul></li> <li><a href="/wiki/Lost_circulation" title="Lost circulation">Lost circulation</a></li> <li><a href="/wiki/Measurement_while_drilling" title="Measurement while drilling">Measurement</a></li> <li><a href="/wiki/Shale_oil_extraction" title="Shale oil extraction">Shale oil extraction</a> <ul><li><a href="/wiki/Fredrik_Ljungstr%C3%B6m#Shale_oil_extraction" title="Fredrik Ljungström">Ljungström method</a></li></ul></li> <li><a href="/wiki/Tracer_use_in_the_oil_industry" title="Tracer use in the oil industry">Tracers</a></li> <li><a href="/wiki/Underbalanced_drilling" title="Underbalanced drilling">Underbalanced drilling</a></li> <li><a href="/wiki/Well_logging" title="Well logging">Well logging</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/wiki/Extraction_of_petroleum" title="Extraction of petroleum">Production</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Petroleum_fiscal_regime" title="Petroleum fiscal regime">Petroleum fiscal regime</a> <ul><li><a href="/wiki/Petroleum_licensing" title="Petroleum licensing">Concessions</a></li> <li><a href="/wiki/Production_sharing_agreement" title="Production sharing agreement">Production sharing agreements</a></li></ul></li> <li><a href="/wiki/Artificial_lift" title="Artificial lift">Artificial lift</a> <ul><li><a href="/wiki/Gas_lift" title="Gas lift">Gas lift</a></li> <li><a href="/wiki/Pumpjack" title="Pumpjack">Pumpjack</a></li> <li><a href="/wiki/Submersible_pump" title="Submersible pump">Submersible pump (ESP)</a></li></ul></li> <li><a href="/wiki/Downstream_(petroleum_industry)" title="Downstream (petroleum industry)">Downstream</a></li> <li><a href="/wiki/Enhanced_oil_recovery" title="Enhanced oil recovery">Enhanced oil recovery (EOR)</a> <ul><li><a href="/wiki/Gas_reinjection" title="Gas reinjection">Gas reinjection</a></li> <li><a href="/wiki/Steam_injection_(oil_industry)" title="Steam injection (oil industry)">Steam injection</a></li></ul></li> <li><a href="/wiki/Midstream" title="Midstream">Midstream</a></li> <li><a href="/wiki/Petroleum_product" title="Petroleum product">Petroleum product</a></li> <li><a href="/wiki/Pipeline" title="Pipeline">Pipeline</a></li> <li><a href="/wiki/Oil_refinery" title="Oil refinery">Refining</a></li> <li><a href="/wiki/Upstream_(petroleum_industry)" title="Upstream (petroleum industry)">Upstream</a></li> <li><a href="/wiki/Water_injection_(oil_production)" title="Water injection (oil production)">Water injection</a></li> <li><a href="/wiki/Well_intervention" title="Well intervention">Well intervention</a></li> <li><a href="/wiki/Christmas_tree_(oil_well)" title="Christmas tree (oil well)">XT</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/wiki/History_of_the_petroleum_industry" title="History of the petroleum industry">History</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1967_Oil_Embargo" title="1967 Oil Embargo">1967 Oil Embargo</a></li> <li><a class="mw-selflink selflink">1973 oil crisis</a></li> <li><a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a></li> <li><a href="/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></li> <li><a href="/wiki/1990_oil_price_shock" title="1990 oil price shock">1990 oil price shock</a></li> <li><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a></li> <li><a href="/wiki/2010s_oil_glut" title="2010s oil glut">2010s oil glut</a></li> <li><a href="/wiki/2020_Russia%E2%80%93Saudi_Arabia_oil_price_war" title="2020 Russia–Saudi Arabia oil price war">2020 Russia–Saudi Arabia oil price war</a></li> <li><a href="/wiki/Nationalization_of_oil_supplies" title="Nationalization of oil supplies">Nationalization</a></li> <li><a href="/wiki/Gas_Exporting_Countries_Forum" title="Gas Exporting Countries Forum">GECF</a></li> <li><a href="/wiki/OPEC" title="OPEC">OPEC</a></li> <li><a href="/wiki/Seven_Sisters_(oil_companies)" class="mw-redirect" title="Seven Sisters (oil companies)">Seven Sisters</a></li> <li><a href="/wiki/Standard_Oil" title="Standard Oil">Standard Oil</a></li> <li><a href="/wiki/History_of_the_petroleum_industry_in_Canada" title="History of the petroleum industry in Canada">Canada</a></li> <li><a href="/wiki/History_of_the_petroleum_industry_in_France" title="History of the petroleum industry in France">France</a></li> <li><a href="/wiki/History_of_the_oil_industry_in_India" title="History of the oil industry in India">India</a></li> <li><a href="/wiki/Petroleum_industry_in_Iraq" title="Petroleum industry in Iraq">Iraq</a></li> <li><a href="/wiki/History_of_the_petroleum_industry_in_Norway" title="History of the petroleum industry in Norway">Norway</a></li> <li><a href="/wiki/History_of_the_oil_industry_in_Saudi_Arabia" title="History of the oil industry in Saudi Arabia">Saudi Arabia</a></li> <li><a href="/wiki/History_of_the_petroleum_industry_in_the_United_States" title="History of the petroleum industry in the United States">United States</a></li> <li><a href="/wiki/History_of_the_Venezuelan_oil_industry" title="History of the Venezuelan oil industry">Venezuela</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Provinces and fields</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_natural_gas_fields" title="List of natural gas fields">List of natural gas fields</a></li> <li><a href="/wiki/List_of_oil_fields" title="List of oil fields">List of oil fields</a></li> <li><a href="/wiki/Caspian_Sea" title="Caspian Sea">Caspian Sea</a></li> <li><a href="/wiki/East_Midlands_Oil_Province" title="East Midlands Oil Province">East Midlands Oil Province</a></li> <li><a href="/wiki/East_Texas_Oil_Field" title="East Texas Oil Field">East Texas</a></li> <li><a href="/wiki/Gulf_of_Mexico" title="Gulf of Mexico">Gulf of Mexico</a></li> <li><a href="/wiki/Niger_Delta#Nigerian_oil" title="Niger Delta">Niger Delta</a></li> <li><a href="/wiki/North_Sea_oil" title="North Sea oil">North Sea</a></li> <li><a href="/wiki/Permian_Basin_(North_America)" title="Permian Basin (North America)">Permian Basin</a></li> <li><a href="/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a></li> <li><a href="/wiki/Prudhoe_Bay_Oil_Field" title="Prudhoe Bay Oil Field">Prudhoe Bay</a></li> <li><a href="/wiki/Oil_reserves_in_Russia" title="Oil reserves in Russia">Russia</a></li> <li><a href="/wiki/Oil_reserves_in_Venezuela" title="Oil reserves in Venezuela">Venezuela</a></li> <li><a href="/wiki/Western_Canadian_Sedimentary_Basin" class="mw-redirect" title="Western Canadian Sedimentary Basin">Western Canadian Sedimentary Basin</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Other topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_abbreviations_in_oil_and_gas_exploration_and_production" title="List of abbreviations in oil and gas exploration and production">Abbreviations</a></li> <li>Classification <ul><li><a href="/wiki/Sweet_crude_oil" title="Sweet crude oil">sweet oil</a></li> <li><a href="/wiki/Sour_crude_oil" title="Sour crude oil">sour oil</a></li></ul></li> <li><a href="/wiki/Oil_shale_gas" title="Oil shale gas">Oil shale gas</a></li> <li><a href="/wiki/Orphan_wells" title="Orphan wells">Orphan wells</a></li> <li><a href="/wiki/Peak_oil" title="Peak oil">Peak oil</a> <ul><li><a href="/wiki/Fossil_fuel_phase-out" title="Fossil fuel phase-out">fossil fuel phase-out</a></li> <li><a href="/wiki/Predicting_the_timing_of_peak_oil" title="Predicting the timing of peak oil">timing</a></li></ul></li> <li><a href="/wiki/Petrocurrency" title="Petrocurrency">Petrocurrency</a></li> <li><a href="/wiki/Petrodollar_recycling" title="Petrodollar recycling">Petrodollar recycling</a></li> <li><a href="/wiki/Petrofiction" title="Petrofiction">Petrofiction</a></li> <li><a href="/wiki/Shale_band" title="Shale band">Shale band</a></li> <li><a href="/wiki/Shale_gas" title="Shale gas">Shale gas</a></li> <li><a href="/wiki/Swing_producer" title="Swing producer">Swing producer</a></li> <li><a href="/wiki/Unconventional_(oil_and_gas)_reservoir" title="Unconventional (oil and gas) reservoir">Unconventional (oil and gas) reservoir</a> <ul><li><a href="/wiki/Heavy_crude_oil" title="Heavy crude oil">heavy crude</a></li> <li><a href="/wiki/Oil_sands" title="Oil sands">oil sands</a></li> <li><a href="/wiki/Oil_shale" title="Oil shale">oil shale</a></li> <li><a href="/wiki/Tight_oil" title="Tight oil">tight oil</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Companies and organisations</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Major <a href="/wiki/List_of_oil_exploration_and_production_companies" title="List of oil exploration and production companies">petroleum companies</a></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left; font-weight:normal;"><a href="/wiki/Big_Oil" title="Big Oil">Supermajors</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/BP" title="BP">BP</a></li> <li><a href="/wiki/Chevron_Corporation" title="Chevron Corporation">Chevron</a></li> <li><a href="/wiki/Eni" title="Eni">Eni</a></li> <li><a href="/wiki/ExxonMobil" title="ExxonMobil">ExxonMobil</a></li> <li><a href="/wiki/Shell_plc" title="Shell plc">Shell</a></li> <li><a href="/wiki/TotalEnergies" title="TotalEnergies">TotalEnergies</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left; font-weight:normal;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/National_oil_company" title="National oil company">National oil companies</a></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abu_Dhabi_National_Oil_Company" title="Abu Dhabi National Oil Company">Abu Dhabi National Oil Company</a></li> <li><a href="/wiki/ANCAP_(Uruguay)" title="ANCAP (Uruguay)">ANCAP</a></li> <li><a href="/wiki/Bharat_Petroleum" title="Bharat Petroleum">Bharat Petroleum</a></li> <li><a href="/wiki/China_National_Offshore_Oil_Corporation" title="China National Offshore Oil Corporation">China National Offshore Oil Corporation</a></li> <li><a href="/wiki/China_National_Petroleum_Corporation" title="China National Petroleum Corporation">China National Petroleum Corporation</a></li> <li><a href="/wiki/Ecopetrol" title="Ecopetrol">Ecopetrol</a></li> <li><a href="/wiki/Equinor" title="Equinor">Equinor</a></li> <li><a href="/wiki/Gazprom" title="Gazprom">Gazprom</a></li> <li><a href="/wiki/Hindustan_Petroleum" title="Hindustan Petroleum">Hindustan Petroleum</a></li> <li><a href="/wiki/Indian_Oil_Corporation" title="Indian Oil Corporation">Indian Oil Corporation</a></li> <li><a href="/wiki/Iraq_National_Oil_Company" title="Iraq National Oil Company">Iraq National Oil Company</a></li> <li><a href="/wiki/KazMunayGas" title="KazMunayGas">KazMunayGas</a></li> <li><a href="/wiki/Kuwait_Petroleum_Corporation" title="Kuwait Petroleum Corporation">Kuwait Petroleum Corporation</a></li> <li><a href="/wiki/Grupa_Lotos" title="Grupa Lotos">Lotos</a></li> <li><a href="/wiki/Naftogaz" title="Naftogaz">Naftogaz</a></li> <li><a href="/wiki/National_Iranian_Oil_Company" title="National Iranian Oil Company">National Iranian Oil Company</a></li> <li><a href="/wiki/National_Iranian_South_Oil_Company" title="National Iranian South Oil Company">National Iranian South Oil Company</a></li> <li><a href="/wiki/NNPC_Limited" title="NNPC Limited">NNPC Limited</a></li> <li><a href="/wiki/Oil_%26_Gas_Development_Company" title="Oil & Gas Development Company">Oil & Gas Development Company</a></li> <li><a href="/wiki/Oil_and_Natural_Gas_Corporation" title="Oil and Natural Gas Corporation">Oil and Natural Gas Corporation</a></li> <li><a href="/wiki/Orlen" title="Orlen">Orlen</a></li> <li><a href="/wiki/PDVSA" title="PDVSA">PDVSA</a></li> <li><a href="/wiki/Pemex" title="Pemex">Pemex</a></li> <li><a href="/wiki/Pertamina" title="Pertamina">Pertamina</a></li> <li><a href="/wiki/Petrobangla" title="Petrobangla">Petrobangla</a></li> <li><a href="/wiki/Petrobras" title="Petrobras">Petrobras</a></li> <li><a href="/wiki/PetroChina" title="PetroChina">PetroChina</a></li> <li><a href="/wiki/Petronas" title="Petronas">Petronas</a></li> <li><a href="/wiki/Petrovietnam" title="Petrovietnam">Petrovietnam</a></li> <li><a href="/wiki/PTT_Public_Company_Limited" title="PTT Public Company Limited">PTT Public Company Limited</a></li> <li><a href="/wiki/QatarEnergy" title="QatarEnergy">QatarEnergy</a></li> <li><a href="/wiki/Rosneft" title="Rosneft">Rosneft</a></li> <li><a href="/wiki/Saudi_Aramco" title="Saudi Aramco">Saudi Aramco</a></li> <li><a href="/wiki/Sinopec" title="Sinopec">Sinopec</a></li> <li><a href="/wiki/SOCAR" title="SOCAR">SOCAR</a></li> <li><a href="/wiki/Sonangol_Group" title="Sonangol Group">Sonangol</a></li> <li><a href="/wiki/Sonatrach" title="Sonatrach">Sonatrach</a></li> <li><a href="/wiki/TPAO" title="TPAO">TPAO</a></li> <li><a href="/wiki/YPF" title="YPF">YPF</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left; font-weight:normal;"><a href="/wiki/Energy_trading" class="mw-redirect" title="Energy trading">Energy trading</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Enron" title="Enron">Enron</a></li> <li><a href="/wiki/Glencore" title="Glencore">Glencore</a></li> <li><a href="/wiki/Gunvor" title="Gunvor">Gunvor</a></li> <li><a href="/wiki/Mercuria" title="Mercuria">Mercuria</a></li> <li><a href="/wiki/Naftiran_Intertrade" title="Naftiran Intertrade">Naftiran Intertrade</a></li> <li><a href="/wiki/Trafigura" title="Trafigura">Trafigura</a></li> <li><a href="/wiki/Vitol" title="Vitol">Vitol</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left; font-weight:normal;">Others</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/APA_Corporation" title="APA Corporation">APA Corporation</a></li> <li><a href="/wiki/Cenovus_Energy" title="Cenovus Energy">Cenovus Energy</a></li> <li><a href="/wiki/Cepsa" title="Cepsa">Cepsa</a></li> <li><a href="/wiki/ConocoPhillips" title="ConocoPhillips">ConocoPhillips</a></li> <li><a href="/wiki/Devon_Energy" title="Devon Energy">Devon Energy</a></li> <li><a href="/wiki/Eneos_Holdings" title="Eneos Holdings">Eneos Holdings</a></li> <li><a href="/wiki/Galp_Energia" title="Galp Energia">Galp Energia</a></li> <li><a href="/wiki/Hess_Corporation" title="Hess Corporation">Hess Corporation</a></li> <li><a href="/wiki/Husky_Energy" title="Husky Energy">Husky Energy</a></li> <li><a href="/wiki/Imperial_Oil" title="Imperial Oil">Imperial Oil</a></li> <li><a href="/wiki/Lukoil" title="Lukoil">Lukoil</a></li> <li><a href="/wiki/Marathon_Oil" title="Marathon Oil">Marathon Oil</a></li> <li><a href="/wiki/Marathon_Petroleum" title="Marathon Petroleum">Marathon Petroleum</a></li> <li><a href="/wiki/Occidental_Petroleum" title="Occidental Petroleum">Occidental Petroleum</a></li> <li><a href="/wiki/OMV" title="OMV">OMV</a></li> <li><a href="/wiki/Phillips_66" title="Phillips 66">Phillips 66</a></li> <li><a href="/wiki/Port_Harcourt_Refining_Company" title="Port Harcourt Refining Company">Port Harcourt Refining Company</a></li> <li><a href="/wiki/Reliance_Industries" title="Reliance Industries">Reliance Industries</a></li> <li><a href="/wiki/Repsol" title="Repsol">Repsol</a></li> <li><a href="/wiki/Suncor_Energy" title="Suncor Energy">Suncor Energy</a></li> <li><a href="/wiki/Sunoco" title="Sunoco">Sunoco</a></li> <li><a href="/wiki/Surgutneftegas" title="Surgutneftegas">Surgutneftegas</a></li> <li><a href="/wiki/TechnipFMC" title="TechnipFMC">TechnipFMC</a></li> <li><a href="/wiki/TNK-BP" title="TNK-BP">TNK-BP</a></li> <li><a href="/wiki/Tullow_Oil" title="Tullow Oil">Tullow Oil</a></li> <li><a href="/wiki/T%C3%BCpra%C5%9F" title="Tüpraş">Tüpraş</a></li> <li><a href="/wiki/Valero_Energy" title="Valero Energy">Valero Energy</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Major <a href="/wiki/List_of_oilfield_service_companies" title="List of oilfield service companies">services companies</a></div></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Amec_Foster_Wheeler" title="Amec Foster Wheeler">Amec Foster Wheeler</a></li> <li><a href="/wiki/Baker_Hughes" title="Baker Hughes">Baker Hughes</a></li> <li><a href="/wiki/Cameron_International" title="Cameron International">Cameron International</a></li> <li><a href="/wiki/CGG_(company)" title="CGG (company)">CGG</a></li> <li><a href="/wiki/CH2M" title="CH2M">CH2M</a></li> <li><a href="/wiki/Chicago_Bridge_%26_Iron_Company" title="Chicago Bridge & Iron Company">Chicago Bridge & Iron Company</a></li> <li><a href="/wiki/China_Oilfield_Services" title="China Oilfield Services">China Oilfield Services</a></li> <li><a href="/wiki/Enbridge" title="Enbridge">Enbridge</a></li> <li><a href="/wiki/GE_Power" title="GE Power">GE Power</a></li> <li><a href="/wiki/Halliburton" title="Halliburton">Halliburton</a></li> <li><a href="/wiki/Nabors_Industries" title="Nabors Industries">Nabors Industries</a></li> <li><a href="/wiki/Naftiran_Intertrade" title="Naftiran Intertrade">Naftiran Intertrade</a></li> <li><a href="/wiki/NOV_Inc." title="NOV Inc.">NOV Inc.</a></li> <li><a href="/wiki/Petrofac" title="Petrofac">Petrofac</a></li> <li><a href="/wiki/Saipem" title="Saipem">Saipem</a></li> <li><a href="/wiki/Schlumberger" title="Schlumberger">Schlumberger</a></li> <li><a href="/wiki/Snam" title="Snam">Snam</a></li> <li><a href="/wiki/Subsea_7" title="Subsea 7">Subsea 7</a></li> <li><a href="/wiki/TC_Energy" title="TC Energy">TC Energy</a></li> <li><a href="/wiki/Transocean" title="Transocean">Transocean</a></li> <li><a href="/wiki/Valaris_Limited" title="Valaris Limited">Valaris Limited</a></li> <li><a href="/wiki/Weatherford_International" title="Weatherford International">Weatherford International</a></li> <li><a href="/wiki/John_Wood_Group" title="John Wood Group">John Wood Group</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Others</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_Petroleum_Institute" title="American Petroleum Institute">American Petroleum Institute</a></li> <li><a href="/wiki/Canadian_petroleum_companies" title="Canadian petroleum companies">Canadian petroleum companies</a></li> <li><a href="/wiki/Intercontinental_Exchange_Futures" title="Intercontinental Exchange Futures">Intercontinental Exchange Futures</a></li> <li><a href="/wiki/International_Association_of_Oil_%26_Gas_Producers" title="International Association of Oil & Gas Producers">International Association of Oil & Gas Producers</a></li> <li><a href="/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a></li> <li><a href="/wiki/Society_of_Petroleum_Engineers" title="Society of Petroleum Engineers">Society of Petroleum Engineers</a></li> <li><a href="/wiki/World_Petroleum_Council" class="mw-redirect" title="World Petroleum Council">World Petroleum Council</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div> <ul><li><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /> <a href="/wiki/Category:Petroleum_industry" title="Category:Petroleum industry">Category</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Financial_crises" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Financial_crises" title="Template:Financial crises"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Financial_crises" title="Template talk:Financial crises"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Financial_crises" title="Special:EditPage/Template:Financial crises"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Financial_crises" style="font-size:114%;margin:0 4em"><a href="/wiki/Financial_crisis" title="Financial crisis">Financial crises</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Bank_run" title="Bank run">Bank run</a></li> <li><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Commodity price shocks</a></li> <li><a href="/wiki/Credit_crunch" title="Credit crunch">Credit crunch</a></li> <li><a href="/wiki/Credit_cycle" title="Credit cycle">Credit cycle</a></li> <li><a href="/wiki/Currency_crisis" title="Currency crisis">Currency crisis</a></li> <li><a href="/wiki/Debt_crisis" title="Debt crisis">Debt crisis</a></li> <li><a href="/wiki/Energy_crisis" title="Energy crisis">Energy crisis</a></li> <li><a href="/wiki/Financial_contagion" title="Financial contagion">Financial contagion</a> <ul><li><a href="/wiki/Social_contagion" title="Social contagion">Social contagion</a></li></ul></li> <li><a href="/wiki/Flash_crash" title="Flash crash">Flash crash</a></li> <li><a href="/wiki/Hyperinflation" title="Hyperinflation">Hyperinflation</a></li> <li><a href="/wiki/Liquidity_crisis" title="Liquidity crisis">Liquidity crisis</a> <ul><li><a href="/wiki/Accounting_liquidity" title="Accounting liquidity">Accounting</a></li> <li><a href="/wiki/Liquid_capital" title="Liquid capital">Capital</a></li> <li><a href="/wiki/Funding_liquidity" title="Funding liquidity">Funding</a></li> <li><a href="/wiki/Market_liquidity" title="Market liquidity">Market</a></li></ul></li> <li><a href="/wiki/Minsky_moment" title="Minsky moment">Minsky moment</a></li> <li><a href="/wiki/Social_crisis" title="Social crisis">Social crisis</a></li> <li><a href="/wiki/Stock_market_crash" title="Stock market crash">Stock market crash</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Pre-<a href="/wiki/Commercial_revolution" title="Commercial revolution">1000</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Financial_crisis_of_33" title="Financial crisis of 33">Financial crisis of 33 CE</a></li> <li><a href="/wiki/Crisis_of_the_Third_Century" title="Crisis of the Third Century">Crisis of the Third Century</a> (235–284 CE)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a> (1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Great_Bullion_Famine" title="Great Bullion Famine">Great Bullion Famine</a> (c. 1400–c. 1500)</li> <li><a href="/wiki/The_Great_Debasement" title="The Great Debasement">The Great Debasement</a> (1544–1551)</li> <li><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic stock market crashes</a> (c. 1600–1760)</li> <li><a href="/wiki/Kipper_und_Wipper" title="Kipper und Wipper">Kipper und Wipper</a> (1621–1623)</li> <li><a href="/wiki/Tulip_mania" title="Tulip mania">Tulip mania crash</a> (1637)</li> <li><a href="/wiki/South_Sea_Company" title="South Sea Company">South Sea bubble crash</a> (1720)</li> <li><a href="/wiki/Mississippi_Company" title="Mississippi Company">Mississippi bubble crash</a> (1720)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a> (1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Amsterdam_banking_crisis_of_1763" title="Amsterdam banking crisis of 1763">Amsterdam banking crisis of 1763</a></li> <li><a href="/wiki/Bengal_Bubble_of_1769" title="Bengal Bubble of 1769">Bengal bubble crash</a> (1769–1784)</li> <li><a href="/wiki/British_credit_crisis_of_1772%E2%80%931773" title="British credit crisis of 1772–1773">British credit crisis of 1772–1773</a></li> <li><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic financial collapse</a> (c. 1780–1795)</li> <li><a href="/wiki/Copper_Panic_of_1789" title="Copper Panic of 1789">Copper Panic of 1789</a></li> <li><a href="/wiki/Panic_of_1792" title="Panic of 1792">Panic of 1792</a></li> <li><a href="/wiki/Panic_of_1796%E2%80%931797" title="Panic of 1796–1797">Panic of 1796–1797</a></li> <li><a href="/wiki/Danish_state_bankruptcy_of_1813" title="Danish state bankruptcy of 1813">Danish state bankruptcy of 1813</a></li> <li><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Post-Napoleonic Irish grain price and land use shocks</a> (1815–1816)</li> <li><a href="/wiki/Panic_of_1819" title="Panic of 1819">Panic of 1819</a></li> <li><a href="/wiki/Panic_of_1825" title="Panic of 1825">Panic of 1825</a></li> <li><a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1840–1870</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/European_potato_failure" title="European potato failure">European potato failure</a> (1845–1856) <ul><li><a href="/wiki/Great_Famine_(Ireland)" title="Great Famine (Ireland)">Great Irish Famine</a></li> <li><a href="/wiki/Highland_Potato_Famine" title="Highland Potato Famine">Highland Potato Famine</a></li></ul></li> <li><a href="/wiki/Panic_of_1847" title="Panic of 1847">Panic of 1847</a></li> <li><a href="/wiki/Panic_of_1857" title="Panic of 1857">Panic of 1857</a></li> <li><a href="/wiki/Panic_of_1866" title="Panic of 1866">Panic of 1866</a></li> <li><a href="/wiki/Black_Friday_(1869)" title="Black Friday (1869)">Black Friday</a> (1869)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a> (1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Panic_of_1873" title="Panic of 1873">Panic of 1873</a></li> <li><a href="/wiki/Paris_Bourse_crash_of_1882" title="Paris Bourse crash of 1882">Paris Bourse crash of 1882</a></li> <li><a href="/wiki/Panic_of_1884" title="Panic of 1884">Panic of 1884</a></li> <li><a href="/wiki/Arendal_crash" title="Arendal crash">Arendal crash</a> (1886)</li> <li><a href="/wiki/Baring_crisis" title="Baring crisis">Baring crisis</a> (1890)</li> <li><a href="/wiki/Encilhamento" title="Encilhamento">Encilhamento</a> (1890–1893)</li> <li><a href="/wiki/Panic_of_1893" title="Panic of 1893">Panic of 1893</a></li> <li><a href="/wiki/Australian_banking_crisis_of_1893" title="Australian banking crisis of 1893">Australian banking crisis of 1893</a></li> <li><a href="/wiki/Black_Monday_(1894)" title="Black Monday (1894)">Black Monday</a> (1894)</li> <li><a href="/wiki/Panic_of_1896" title="Panic of 1896">Panic of 1896</a></li> <li><a href="/wiki/Panic_of_1901" title="Panic of 1901">Panic of 1901</a></li> <li><a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a></li> <li><a href="/wiki/Shanghai_rubber_stock_market_crisis" title="Shanghai rubber stock market crisis">Shanghai rubber stock market crisis</a> (1910)</li> <li><a href="/wiki/Panic_of_1910%E2%80%9311" title="Panic of 1910–11">Panic of 1910–11</a></li> <li><a href="/wiki/Financial_crisis_of_1914" title="Financial crisis of 1914">Financial crisis of 1914</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a> (1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hyperinflation_in_early_Soviet_Russia" title="Hyperinflation in early Soviet Russia">Early Soviet hyperinflation</a> (1917–1924)</li> <li><a href="/wiki/Hyperinflation_in_the_Weimar_Republic" title="Hyperinflation in the Weimar Republic">Weimar Republic hyperinflation</a> (1921–1923)</li> <li><a href="/wiki/Sh%C5%8Dwa_financial_crisis" title="Shōwa financial crisis">Shōwa financial crisis</a> (1927)</li> <li><a href="/wiki/Wall_Street_Crash_of_1929" class="mw-redirect" title="Wall Street Crash of 1929">Wall Street Crash of 1929</a></li> <li><a href="/wiki/Panic_of_1930" title="Panic of 1930">Panic of 1930</a></li> <li><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/World_War_II" title="World War II">Wartime period</a> (1939–1945)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hyperinflation_in_Greece" title="Hyperinflation in Greece">Greek hyperinflation</a> (1941–1946)</li> <li><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a> (1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hungarian_peng%C5%91#Hyperinflation" title="Hungarian pengő">Hungarian pengő hyperinflation</a> (1945–1946)</li> <li><a href="/wiki/Kennedy_Slide_of_1962" title="Kennedy Slide of 1962">Kennedy Slide of 1962</a></li> <li><a href="/w/index.php?title=1963%E2%80%931965_Indonesian_hyperinflation&action=edit&redlink=1" class="new" title="1963–1965 Indonesian hyperinflation (page does not exist)">1963–1965 Indonesian hyperinflation</a></li> <li><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">Great Inflation</a> (1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1970s_energy_crisis" title="1970s energy crisis">1970s energy crisis</a> (1973–1980)</li> <li><a class="mw-selflink selflink">1973 oil crisis</a></li> <li><a href="/wiki/1973%E2%80%931974_stock_market_crash" title="1973–1974 stock market crash">1973–1974 stock market crash</a></li> <li><a href="/wiki/Secondary_banking_crisis_of_1973%E2%80%931975" title="Secondary banking crisis of 1973–1975">Secondary banking crisis of 1973–1975</a></li> <li><a href="/wiki/Steel_crisis" title="Steel crisis">Steel crisis</a> (1973–1982)</li> <li><a href="/wiki/Latin_American_debt_crisis" title="Latin American debt crisis">Latin American debt crisis</a> (1975–1982)</li> <li><a href="/wiki/1976_sterling_crisis" title="1976 sterling crisis">1976 British currency crisis</a></li> <li><a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a></li> <li><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1980–1982)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/ <a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a> (1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1982–1994)</li> <li><a href="/wiki/Souk_Al-Manakh_stock_market_crash" title="Souk Al-Manakh stock market crash">Souk Al-Manakh stock market crash</a> (1982)</li> <li><a href="/wiki/Crisis_of_1982" title="Crisis of 1982">Chilean crisis of 1982</a></li> <li><a href="/wiki/1983_Israel_bank_stock_crisis" title="1983 Israel bank stock crisis">1983 Israel bank stock crisis</a></li> <li><a href="/wiki/Black_Saturday_(1983)" title="Black Saturday (1983)">Black Saturday (1983)</a></li> <li><a href="/wiki/Savings_and_loan_crisis" title="Savings and loan crisis">Savings and loan crisis</a> (1986–1995)</li> <li><a href="/wiki/Cameroonian_economic_crisis" title="Cameroonian economic crisis">Cameroonian economic crisis</a> (1987–2000s)</li> <li><a href="/wiki/Black_Monday_(1987)" title="Black Monday (1987)">Black Monday (1987)</a></li> <li><a href="/wiki/1988%E2%80%931992_Norwegian_banking_crisis" title="1988–1992 Norwegian banking crisis">1988–1992 Norwegian banking crisis</a></li> <li><a href="/wiki/Japanese_asset_price_bubble" title="Japanese asset price bubble">Japanese asset price bubble crash</a> (1990–1992)</li> <li><a href="/wiki/Rhode_Island_banking_crisis" title="Rhode Island banking crisis">Rhode Island banking crisis</a> (1990–1992)</li> <li><a href="/wiki/1991_Indian_economic_crisis" title="1991 Indian economic crisis">1991 Indian economic crisis</a></li> <li><a href="/wiki/Sweden_financial_crisis_1990%E2%80%931994" class="mw-redirect" title="Sweden financial crisis 1990–1994">1990s Swedish financial crisis</a></li> <li><a href="/wiki/1990s_Finnish_banking_crisis" title="1990s Finnish banking crisis">1990s Finnish banking crisis</a></li> <li><a href="/wiki/Armenian_energy_crisis_of_1990s" class="mw-redirect" title="Armenian energy crisis of 1990s">1990s Armenian energy crisis</a></li> <li><a href="/wiki/Special_Period" title="Special Period">Cuban Special Period</a> (1991–2000)</li> <li><a href="/wiki/Black_Wednesday" title="Black Wednesday">Black Wednesday (1992 Sterling crisis)</a></li> <li><a href="/wiki/Hyperinflation_in_the_Federal_Republic_of_Yugoslavia" title="Hyperinflation in the Federal Republic of Yugoslavia">Yugoslav hyperinflation</a> (1992–1994)</li> <li><a href="/wiki/1994_bond_market_crisis" title="1994 bond market crisis">1994 bond market crisis</a></li> <li><a href="/wiki/Venezuelan_banking_crisis_of_1994" title="Venezuelan banking crisis of 1994">Venezuelan banking crisis of 1994</a></li> <li><a href="/wiki/Mexican_peso_crisis" title="Mexican peso crisis">Mexican peso crisis</a> (1994–1996)</li> <li><a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a></li> <li><a href="/wiki/October_27,_1997,_mini-crash" title="October 27, 1997, mini-crash">October 1997 mini-crash</a></li> <li><a href="/wiki/1998_Russian_financial_crisis" title="1998 Russian financial crisis">1998 Russian financial crisis</a></li> <li><a href="/wiki/1998%E2%80%931999_Ecuador_economic_crisis" title="1998–1999 Ecuador economic crisis">1998–1999 Ecuador economic crisis</a></li> <li><a href="/wiki/1998%E2%80%932002_Argentine_great_depression" title="1998–2002 Argentine great depression">1998–2002 Argentine great depression</a></li> <li><a href="/wiki/Samba_effect" title="Samba effect">Samba effect</a> (1999)</li> <li><a href="/wiki/Dot-com_bubble" title="Dot-com bubble">Dot-com bubble crash</a> (2000–2004)</li> <li><a href="/wiki/Economic_effects_of_the_September_11_attacks" title="Economic effects of the September 11 attacks">9/11 stock market crash</a> (2001)</li> <li><a href="/wiki/2001_Turkish_economic_crisis" title="2001 Turkish economic crisis">2001 Turkish economic crisis</a></li> <li><a href="/wiki/South_American_economic_crisis_of_2002" title="South American economic crisis of 2002">South American economic crisis of 2002</a></li> <li><a href="/wiki/Stock_market_downturn_of_2002" title="Stock market downturn of 2002">Stock market downturn of 2002</a></li> <li><a href="/wiki/2002_Uruguay_banking_crisis" title="2002 Uruguay banking crisis">2002 Uruguay banking crisis</a></li> <li><a href="/wiki/2003_Myanmar_banking_crisis" title="2003 Myanmar banking crisis">2003 Myanmar banking crisis</a></li> <li><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a> (2003–2008)</li> <li><a href="/wiki/2004_Argentine_energy_crisis" title="2004 Argentine energy crisis">2004 Argentine energy crisis</a></li> <li><a href="/wiki/Chinese_stock_bubble_of_2007" title="Chinese stock bubble of 2007">2007 Chinese stock bubble crash</a></li> <li><a href="/wiki/Hyperinflation_in_Zimbabwe" title="Hyperinflation in Zimbabwe">Zimbabwean hyperinflation</a> (2007–present)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a> (2007–2009)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2007%E2%80%932008_financial_crisis" title="2007–2008 financial crisis">2007–2008 financial crisis</a> <ul><li><a href="/wiki/Global_financial_crisis_in_September_2008" title="Global financial crisis in September 2008">September 2008</a></li> <li><a href="/wiki/Global_financial_crisis_in_October_2008" title="Global financial crisis in October 2008">October 2008</a></li> <li><a href="/wiki/Global_financial_crisis_in_November_2008" title="Global financial crisis in November 2008">November 2008</a></li> <li><a href="/wiki/Global_financial_crisis_in_December_2008" title="Global financial crisis in December 2008">December 2008</a></li> <li><a href="/wiki/Global_financial_crisis_in_2009" title="Global financial crisis in 2009">2009</a></li> <li><a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">Subprime mortgage crisis</a></li> <li><a href="/wiki/2000s_United_States_housing_market_correction" title="2000s United States housing market correction">2000s U.S. housing market correction</a></li> <li><a href="/wiki/United_States_bear_market_of_2007%E2%80%932009" title="United States bear market of 2007–2009">U.S. bear market of 2007–2009</a></li> <li><a href="/wiki/2008_Latvian_financial_crisis" title="2008 Latvian financial crisis">2008 Latvian financial crisis</a></li> <li><a href="/wiki/2008%E2%80%932009_Belgian_financial_crisis" title="2008–2009 Belgian financial crisis">2008–2009 Belgian financial crisis</a></li> <li><a href="/wiki/Great_Recession_in_Russia" title="Great Recession in Russia">2008–2009 Russian financial crisis</a></li> <li><a href="/wiki/2008%E2%80%932009_Ukrainian_financial_crisis" title="2008–2009 Ukrainian financial crisis">2008–2009 Ukrainian financial crisis</a></li> <li><a href="/wiki/2008%E2%80%932011_Icelandic_financial_crisis" title="2008–2011 Icelandic financial crisis">2008–2011 Icelandic financial crisis</a></li> <li><a href="/wiki/Post-2008_Irish_banking_crisis" title="Post-2008 Irish banking crisis">2008–2011 Irish banking crisis</a></li> <li><a href="/wiki/2008%E2%80%932014_Spanish_financial_crisis" title="2008–2014 Spanish financial crisis">2008–2014 Spanish financial crisis</a></li> <li><a href="/wiki/Blue_Monday_Crash_2009" title="Blue Monday Crash 2009">Blue Monday Crash 2009</a></li> <li><a href="/wiki/European_debt_crisis" title="European debt crisis">European debt crisis</a></li> <li><a href="/wiki/Greek_government-debt_crisis" title="Greek government-debt crisis">Greek government-debt crisis</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a> (2009–present)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Dubai_World" title="Dubai World">2009 Dubai debt standstill</a></li> <li><a href="/wiki/Venezuelan_banking_crisis_of_2009%E2%80%932010" title="Venezuelan banking crisis of 2009–2010">Venezuelan banking crisis of 2009–2010</a></li> <li><a href="/wiki/2010%E2%80%932014_Portuguese_financial_crisis" title="2010–2014 Portuguese financial crisis">2010–2014 Portuguese financial crisis</a></li> <li><a href="/wiki/Energy_crisis_in_Venezuela" title="Energy crisis in Venezuela">Energy crisis in Venezuela</a> (2010–present)</li> <li><a href="/wiki/Economy_of_Syria" title="Economy of Syria">Syrian economic crisis</a> (2011–present)</li> <li><a href="/wiki/August_2011_stock_markets_fall" title="August 2011 stock markets fall">August 2011 stock markets fall</a></li> <li><a href="/wiki/2011_Bangladesh_share_market_scam" title="2011 Bangladesh share market scam">2011 Bangladesh share market scam</a></li> <li><a href="/wiki/2012%E2%80%932013_Cypriot_financial_crisis" title="2012–2013 Cypriot financial crisis">2012–2013 Cypriot financial crisis</a></li> <li><a href="/wiki/Chinese_Banking_Liquidity_Crisis_of_2013" title="Chinese Banking Liquidity Crisis of 2013">2013 Chinese banking liquidity crisis</a></li> <li><a href="/wiki/2013%E2%80%93present_economic_crisis_in_Venezuela" title="2013–present economic crisis in Venezuela">Venezuela economic crisis</a> (2013–present)</li> <li><a href="/wiki/2014_Brazilian_economic_crisis" title="2014 Brazilian economic crisis">2014–2016 Brazilian economic crisis</a></li> <li><a href="/wiki/Puerto_Rican_government-debt_crisis" title="Puerto Rican government-debt crisis">Puerto Rican government-debt crisis</a> (2014–2022)</li> <li><a href="/wiki/Russian_financial_crisis_(2014%E2%80%932016)" title="Russian financial crisis (2014–2016)">Russian financial crisis (2014–2016)</a></li> <li><a href="/wiki/2015_Nepal_blockade" title="2015 Nepal blockade">2015 Nepal blockade</a></li> <li><a href="/wiki/2015%E2%80%932016_Chinese_stock_market_turbulence" title="2015–2016 Chinese stock market turbulence">2015–2016 Chinese stock market turbulence</a></li> <li><a href="/wiki/2015%E2%80%932016_stock_market_selloff" title="2015–2016 stock market selloff">2015–2016 stock market selloff</a></li> <li><a href="/wiki/Economic_effects_of_Brexit" title="Economic effects of Brexit">Brexit stock market crash</a> (2016)</li> <li><a href="/wiki/Hyperinflation_in_Venezuela" title="Hyperinflation in Venezuela">Venezuelan hyperinflation</a> (2016–2022)</li> <li><a href="/wiki/2017_Sri_Lankan_fuel_crisis" title="2017 Sri Lankan fuel crisis">2017 Sri Lankan fuel crisis</a></li> <li><a href="/wiki/Ghana_banking_crisis" title="Ghana banking crisis">Ghana banking crisis</a> (2017–2018)</li> <li><a href="/wiki/Turkish_economic_crisis_(2018%E2%80%93current)" title="Turkish economic crisis (2018–current)">Turkish economic crisis</a> (2018–present)</li> <li><a href="/wiki/Lebanese_liquidity_crisis" title="Lebanese liquidity crisis">Lebanese liquidity crisis</a> (2019–present)</li> <li><a href="/wiki/Sri_Lankan_economic_crisis_(2019%E2%80%93present)" title="Sri Lankan economic crisis (2019–present)">Sri Lankan economic crisis</a> (2019–present)</li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic" title="Economic impact of the COVID-19 pandemic">COVID-19 pandemic</a> <ul><li><a href="/wiki/Financial_market_impact_of_the_COVID-19_pandemic" title="Financial market impact of the COVID-19 pandemic">Financial market impact</a></li> <li><a href="/wiki/2020_stock_market_crash" title="2020 stock market crash">2020 stock market crash</a></li> <li><a href="/wiki/Early_2020s_recession" class="mw-redirect" title="Early 2020s recession">Recession</a></li></ul></li> <li><a href="/wiki/Chinese_property_sector_crisis_(2020%E2%80%93present)" title="Chinese property sector crisis (2020–present)">Chinese property sector crisis</a> (2020–present)</li> <li><a href="/wiki/2021%E2%80%932023_inflation_surge" title="2021–2023 inflation surge">2021–2023 inflation surge</a></li> <li><a href="/wiki/Economic_impact_of_the_Russian_invasion_of_Ukraine" title="Economic impact of the Russian invasion of Ukraine">2022 Russian financial crisis</a></li> <li><a href="/wiki/Pakistani_economic_crisis_(2022%E2%80%93present)" title="Pakistani economic crisis (2022–present)">Pakistani economic crisis</a> (2022–present)</li> <li><a href="/wiki/2022_stock_market_decline" title="2022 stock market decline">2022 stock market decline</a></li> <li><a href="/wiki/German_economic_crisis_(2022%E2%80%93present)" title="German economic crisis (2022–present)">2022–2024 German economic crisis</a></li> <li><a href="/wiki/2023_United_States_banking_crisis" title="2023 United States banking crisis">2023 United States banking crisis</a></li> <li><a href="/wiki/2023%E2%80%932024_Egyptian_financial_crisis" title="2023–2024 Egyptian financial crisis">2023–2024 Egyptian financial crisis</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/List_of_banking_crises" title="List of banking crises">List of banking crises</a></li> <li><a href="/wiki/List_of_economic_crises" title="List of economic crises">List of economic crises</a></li> <li><a href="/wiki/List_of_sovereign_debt_crises" title="List of sovereign debt crises">List of sovereign debt crises</a></li> <li><a href="/wiki/List_of_stock_market_crashes_and_bear_markets" title="List of stock market crashes and bear markets">List of stock market crashes and bear markets</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox authority-control" 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[\"CITEREFCohen2021\"] = 1,\n [\"CITEREFCooper2011\"] = 1,\n [\"CITEREFDaoudiDajani1984\"] = 1,\n [\"CITEREFDavid_S._Painter2014\"] = 1,\n [\"CITEREFDe_Groot2020\"] = 1,\n [\"CITEREFDhawanJeske2006\"] = 1,\n [\"CITEREFDorfman1979\"] = 1,\n [\"CITEREFEckstein1978\"] = 1,\n [\"CITEREFEuclid_A._Rose2004\"] = 1,\n [\"CITEREFFrum2000\"] = 1,\n [\"CITEREFGaravini2019\"] = 1,\n [\"CITEREFGrossman2013\"] = 1,\n [\"CITEREFHammesWills2005\"] = 1,\n [\"CITEREFHermeleOdén1988\"] = 1,\n [\"CITEREFHirsch1987\"] = 1,\n [\"CITEREFHorton\"] = 1,\n [\"CITEREFHughes2008\"] = 1,\n [\"CITEREFIkenberry1986\"] = 1,\n [\"CITEREFJasper1990\"] = 1,\n [\"CITEREFKandiyoti2012\"] = 1,\n [\"CITEREFKarnow1983\"] = 1,\n [\"CITEREFKimble\"] = 1,\n [\"CITEREFKissinger1982\"] = 1,\n [\"CITEREFKuiken2015\"] = 1,\n [\"CITEREFLacey1981\"] = 1,\n [\"CITEREFLe_Sueur2010\"] = 1,\n [\"CITEREFLenczowski1990\"] = 1,\n [\"CITEREFLesch2001\"] = 1,\n [\"CITEREFLicklider1988\"] = 1,\n [\"CITEREFLittle2009\"] = 1,\n [\"CITEREFMasouros2013\"] = 1,\n [\"CITEREFMilton_Briquet_Bastos2007\"] = 1,\n [\"CITEREFMurphyPerez-Lopez1975\"] = 1,\n [\"CITEREFOdell1974\"] = 1,\n [\"CITEREFOdell2001\"] = 1,\n [\"CITEREFPainter2014\"] = 1,\n [\"CITEREFPeck2014\"] = 1,\n [\"CITEREFPeelo1975\"] = 1,\n [\"CITEREFPelletiere2001\"] = 1,\n [\"CITEREFPerron1989\"] = 1,\n [\"CITEREFPrice-Smith2015\"] = 1,\n [\"CITEREFRandall2005\"] = 1,\n [\"CITEREFRichardsonNordhaus1995\"] = 1,\n [\"CITEREFRubin2011\"] = 1,\n [\"CITEREFRybczynski1976\"] = 1,\n [\"CITEREFRüdiger_Graf2012\"] = 1,\n [\"CITEREFSandler2008\"] = 1,\n [\"CITEREFSherbinyTessler1976\"] = 1,\n [\"CITEREFShwadran2019\"] = 1,\n [\"CITEREFSilverwood2021\"] = 1,\n [\"CITEREFSkinner2017\"] = 1,\n [\"CITEREFSlavinFreudenheimRhoden1982\"] = 1,\n [\"CITEREFSobel1974\"] = 1,\n [\"CITEREFStein2010\"] = 1,\n [\"CITEREFStern2016\"] = 1,\n [\"CITEREFTaghizadeganStöferleStöferle2014\"] = 1,\n [\"CITEREFTreece2013\"] = 1,\n [\"CITEREFVenn1986\"] = 1,\n [\"CITEREFVenn2002\"] = 1,\n [\"CITEREFWunderlich2020\"] = 1,\n [\"CITEREFYergin1991\"] = 2,\n}\ntemplate_list = table#1 {\n [\"'s\"] = 1,\n [\"As of\"] = 1,\n [\"Authority control\"] = 1,\n [\"Citation needed\"] = 3,\n [\"Cite book\"] = 48,\n [\"Cite journal\"] = 23,\n [\"Cite news\"] = 12,\n [\"Cite video\"] = 1,\n [\"Cite web\"] = 27,\n [\"Clarify\"] = 1,\n [\"Clear\"] = 1,\n [\"Cold War\"] = 1,\n [\"Commons category\"] = 1,\n [\"Convert\"] = 5,\n [\"Div col\"] = 1,\n [\"Div col end\"] = 1,\n [\"Financial crises\"] = 1,\n [\"Further\"] = 3,\n [\"ISBN?\"] = 1,\n [\"Inflation\"] = 2,\n [\"More citations needed\"] = 1,\n [\"Multiple image\"] = 1,\n [\"Petroleum industry\"] = 1,\n [\"Portal\"] = 1,\n [\"Pp-extended\"] = 1,\n [\"Reflist\"] = 1,\n [\"See also\"] = 2,\n [\"Sfn\"] = 199,\n [\"Short description\"] = 1,\n [\"Snd\"] = 24,\n [\"Toclimit\"] = 1,\n [\"Use mdy dates\"] = 1,\n [\"Webarchive\"] = 2,\n}\narticle_whitelist = table#1 {\n}\n","limitreport-profile":[["MediaWiki\\Extension\\Scribunto\\Engines\\LuaSandbox\\LuaSandboxCallback::callParserFunction","320","22.5"],["?","240","16.9"],["MediaWiki\\Extension\\Scribunto\\Engines\\LuaSandbox\\LuaSandboxCallback::getAllExpandedArguments","140","9.9"],["dataWrapper \u003Cmw.lua:672\u003E","120","8.5"],["MediaWiki\\Extension\\Scribunto\\Engines\\LuaSandbox\\LuaSandboxCallback::match","60","4.2"],["recursiveClone \u003CmwInit.lua:45\u003E","60","4.2"],["MediaWiki\\Extension\\Scribunto\\Engines\\LuaSandbox\\LuaSandboxCallback::preprocess","60","4.2"],["\u003Cmw.lua:694\u003E","60","4.2"],["format","40","2.8"],["MediaWiki\\Extension\\Scribunto\\Engines\\LuaSandbox\\LuaSandboxCallback::getExpandedArgument","40","2.8"],["[others]","280","19.7"]]},"cachereport":{"origin":"mw-web.codfw.main-f69cdc8f6-ksxdk","timestamp":"20241124160830","ttl":2592000,"transientcontent":false}}});});</script> <script 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