1973+OPEC+Oil+Embargo+(1973)

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** __ OPEC Oil Embargo __ ** Student:Taylor Scott
 * __Date__ **: October 17th, 1973- March 18th, 1974

· OPEC (organization of the Petroleum Exporting Countries): an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum. · OPEC consists of Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Indonesia and many other eastern countries. · On October 17,1993, the Arab oil producing nations imposed an oil embargo on the United States due to its support of Israel after the unexpected attacks by Egypt and Syria. · The price of the available oil in the United States raised from $3 to $11.65 · Caused U.S. Citizens to decrease transportation in oil-consuming vehicles · The OPEC oil embargo had caused a deficit of oil but may have encouraged the decrease in use of non-renewable resources. · By using less non-renewable resources such as oil, the pollution had decreased significantly.

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OPEC Video: http://www.youtube.com/watch?v=VCLRlVxOH-Q&feature=player_embedded#!

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