Browsing: March 18

A Brief History On March 18, 1974, the so called Arab Oil Embargo came to an end, but any celebrations were certainly premature! Digging Deeper Digging deeper, we find two major factors involved in making this crisis as important as it was and still is. The first factor was that it had appeared US production of oil had peaked and the world believed that from about 1970 onward it would continue to decline more or less on a constant basis. The other issue at hand was and still is the Arab-Israeli conflict.  The US is pledged to guaranty the continuation…