Gas shortages of the 1970's In October 1973 OAPEC (=OPEC+Egypt+Syria) began an oil embargo to the US which lasted until 1974,"in response to the U.S.decision to re- supply the Israeli military"during the Yom Kippur war. 上滋充通大滓 盒 Shanghai Jiao Tong University
+ - Gas shortages of the 1970’s In October 1973 OAPEC (=OPEC+Egypt+Syria) began an oil embargo to the US which lasted until 1974, “in response to the U.S. decision to resupply the Israeli military” during the Yom Kippur war
Oil in the US Before 1948,exporter ■ Before1970,Import Quota After 1970,peak capacity production,1/3 in total oil in the world ■ 1973 Import 36%;1979 Import 45%;1990 more than total of UK,France,Germany=8.108 Million/day 2001,11.619 Million/day,Import 52% 2020,Import 64% 上浒充通大￥ Shanghai Jiao Tong University
+ - Oil in the US Before 1948, exporter Before1970, Import Quota After 1970, peak capacity production, 1/3 in total oil in the world 1973 Import 36%; 1979 Import 45%; 1990 more than total of UK, France, Germany=8.108 Million/day 2001, 11.619 Million/day, Import 52% 2020, Import 64%
Oil Prices $120 1973 Nominal $100 ☐Real2oo8 dollars)) 1861-1944 US domestic first purchase price $80 1945-1985 Arabian Light posted af Ras Tanura 1986-2008 Brenf Spot Source.Energy Infommation Administration $60 40 $20 M 186118661871187618911896189118961901190619111916192119261931193619411946195119561961196619711976198119861991199620012006 上游充通大￥ Shanghai Jiao Tong University
Oil Prices 1973
LINCOLN amE￡融 GREEN FLAG EVERYONE WELCOME YELLOW FLAG COMMERCIAL TRUCKS BURDEN OF PROOF ·CARS ON CUSTOMER RED FLAG NO CLOSED 6A6 发 shangna Jao Tong onversity
+- asa￡L ￡ 剧4 二
Responses ☐Rationing The national maximum speed limit of 55 mph was imposed States requested that citizens not put up christmas lights;Oregon banned christmas lights and commercial lighting □ Nixon requested stations not sell gas on Saturday nights or Sundays 上浒充通大睾 Shanghai Jiao Tong University
+ - Responses Rationing The national maximum speed limit of 55 mph was imposed States requested that citizens not put up christmas lights; Oregon banned christmas lights and commercial lighting Nixon requested stations not sell gas on Saturday nights or Sundays