I need some homework help. Here’s the entire question:
In 1973, due to its support of Israel, the Arab countries retaliated against the U.S. launching the Oil Embargo. How did the Embargo impact the American economy and the lives of average Americans? Did it lead to a change in American policy in regards to the Arab/Israeli conflict?
April 6th, 2010 at 5:30 pm
First ref is entitled “educate yourself” and I agree. This details the immediate cause and effect of the ‘73-’74 activity. This addresses your first question.
The second ref looks at the longer effect of the formation of OPEC and the activities of the US politicos concerning the debacle in general. This will address the concerns of your second question.
IMHO the worst thing is that no administration as yet has ever put together a true energy policy for the US and for it’s safety. Whether this is due to various politicians being bought by overseas individuals/governments ot it is just unqualified stupidity is an open question. That should have been an activity started and finished by Nixon. Every President has stated his intentions to form this policy but no result has ever been forthcoming and I expect no different from anything in the foreseeable future.
A true policy would open up ANWR, much of the florida and East coast, the proven fields off Calif and the known gas reserves in the western US. Had this policy been put in place in the 73-74 time frame, most likely the US would be energy independent today with a much lower consumption of hydrocarbons in general and alternative sources significantly better developed.