Forty years ago OPEC halted all their oil exports to the U.S. This was OPEC’s response to America’s support for Israel during the Yom Kippur War. I wasn’t around at that time but I have heard about these dark moments. As we know America is extremely dependent on oil, aka: the blood of the economy, even more so back then when it was extremely cheap and there wasn’t such things as “alternative energy, clean energy, energy efficient, or green energy”. Oil, that’s it. It was everywhere, affordable, and accessible. That was also a very depressing era because America was getting their butt kicked in Vietnam and it was now brought down to its knees by a couple Arab Sheiks. It looked like the end for the almighty America. But as we now know, America did what it does best, it got their act together, got up and became stronger. America has learned from this grim experience. It’s now a more energy efficient, more environmentally friendly and less dependent on foreign oil, especially from dictators with links to terrorism.
In January 1974 oil prices were 4 times higher than before the crisis. Could we handle that today? If the price at the pump quadruple tomorrow morning, I would be biking, walking, running everywhere if that was ever to happen. We complained a lot about gas prices, but at least we have oil to run our cars around. However, we really need to find an alternative to this dirty filthy stuff.
I have uploaded a few pictures from the crisis from forty years ago, courtesy of the Business Insider. Click on on the Business Insider link for the full collection.
Photo Credits: David Falconer, Flicks