Login required to started new threads

Login required to post replies

Happy anniversary OPEC
Quote | Reply
Perhaps the greatest attack on the US ever without weapons:


"In October 1973, OPEC ministers were meeting in Vienna when Egypt and Syria (non-OPEC nations) launched a joint attack on Israel. After initial losses in the so-called Yom Kippur War, Israel began beating back the Arab gains with the help of a U.S. airlift of arms and other military assistance from the Netherlands and Denmark. By October 17, the tide had turned decisively against Egypt and Syria, and OPEC decided to use oil price increases as a political weapon against Israel and its allies. Israel, as expected, refused to withdraw from the occupied territories, and the price of oil increased by 70 percent. At OPEC’s Tehran conference in December, oil prices were raised another 130 percent, and a total oil embargo was imposed on the United States, the Netherlands, and Denmark. "

"The great pleasure in life is doing what people say you cannot do."
Quote Reply
Re: Happy anniversary OPEC [jkca1] [ In reply to ]
Quote | Reply
jkca1 wrote:
Perhaps the greatest attack on the US ever without weapons:


"In October 1973, OPEC ministers were meeting in Vienna when Egypt and Syria (non-OPEC nations) launched a joint attack on Israel. After initial losses in the so-called Yom Kippur War, Israel began beating back the Arab gains with the help of a U.S. airlift of arms and other military assistance from the Netherlands and Denmark. By October 17, the tide had turned decisively against Egypt and Syria, and OPEC decided to use oil price increases as a political weapon against Israel and its allies. Israel, as expected, refused to withdraw from the occupied territories, and the price of oil increased by 70 percent. At OPEC’s Tehran conference in December, oil prices were raised another 130 percent, and a total oil embargo was imposed on the United States, the Netherlands, and Denmark. "

I remember all of this, including the so-called gas "shortages" that ensued for awhile, though they were mainly the result of illogical panic more than anything else. My dad was upset over the price of gasoline, which shot all the way up to .52/gallon. He had a brand-new 1973 Ford LTD Brougham two-door hardtop ($6,500 worth of gas-sucking luxury). Its 429 V-8 got an estimated 11.7 mpg, so we definitely spent a little bit of time in those insane gas station lines. ;-)

According to news reports, Chinese efforts at EV production may result in millions of such cars flooding the markets and driving oil down to $10/bbl soon, by some optimistic views. That could finally spell the end of the cartel. Hopefully.

"Politics is just show business for ugly people."
Quote Reply
Re: Happy anniversary OPEC [big kahuna] [ In reply to ]
Quote | Reply
About that same time my dad bought an Olds station wagon with 3rd row rear facing seat (oh the horror) and a legendary Oldsmobile 455 Rocket.



I miss YaHey
Quote Reply
Re: Happy anniversary OPEC [justgeorge] [ In reply to ]
Quote | Reply
justgeorge wrote:
About that same time my dad bought an Olds station wagon with 3rd row rear facing seat (oh the horror) and a legendary Oldsmobile 455 Rocket.


My uncle Willie (on my mom's side... her mom was a hillbilly ;-) had one of those Oldsmobile Vista Cruiser station wagons, the ones with those thin glass roof panels all around. They were the coolest things.



"Politics is just show business for ugly people."
Quote Reply