Category: Oil

Remembering the 1973 Arab Oil Embargo

oil tankers

40 years ago Israel fought Egypt and Syria in the 1973 Yom Kippur War. Israel was on the ropes and needed a resupply from the United States. Nixon hesitantly agreed to resupply Israel. This infuriated the Arab World that they instituted a boycott of the West. In other words, they stopped shipping oil from their hellholes to Western nations. A move that can happen again.