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  • 1973 Oil Crisis (Opec) : Por: Juan Felipe Lafaurie

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    Juan Felipe Lafaurie Viatela
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    OPEC, an international organization of major oil-exporting nations, imposed an oil embargo in 1973 in response to Western support for Israel in the Yom Kippur War. The embargo strained the US economy, which had become increasingly dependent on foreign oil imports. OPEC controlled oil production and prices, and used oil as a political weapon during the embargo to impact the economies of countries that supported Israel.

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    Oil Crisis

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    OPEC, an international organization of major oil-exporting nations, imposed an oil embargo in 1973 in response to Western support for Israel in the Yom Kippur War. The embargo strained the US economy, which had become increasingly dependent on foreign oil imports. OPEC controlled oil production and prices, and used oil as a political weapon during the embargo to impact the economies of countries that supported Israel.

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    © All Rights Reserved
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    7 views6 pages

    1973 Oil Crisis (Opec) : Por: Juan Felipe Lafaurie

    Uploaded by

    Juan Felipe Lafaurie Viatela
    OPEC, an international organization of major oil-exporting nations, imposed an oil embargo in 1973 in response to Western support for Israel in the Yom Kippur War. The embargo strained the US economy, which had become increasingly dependent on foreign oil imports. OPEC controlled oil production and prices, and used oil as a political weapon during the embargo to impact the economies of countries that supported Israel.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    1973 OIL CRISIS (OPEC)

    POR: JUAN FELIPE LAFAURIE


    OPEC
    Organization of the
    Petroleum Exporting
    Countries is an international
    organization. Regulate

    - the price of petroleum


    products

    - Regulate quantities of oil


    among the world countries

    - Policies relating to
    production and sale of
    petroleum oil.
    WHY THE OPEC DID THE OIL EMBARGO?

    The 1973 Oil Embargo acutely strained a U.S.


    economy that had grown increasingly dependent
    on foreign oil.

    US PARTICIPATION IN KIPPUR WAR AS AN ISRAEL ALLY. (OPEC


    MEMBERS ARE MOSTLY ARAB COUNTRIES)
    JOHN
    John´s Household Income Disposal
    TOTAL INCOME 1,000,000

    GAS AND OIL 100,000 400,000

    HOUSE EXPENSES 300,000 200,000

    FOOD AND CLOTHES 200,000 300,000

    MONEY STRORAGE 400,000 100,000


    CONSEQUENCES OF THE OIL CRISIS INTO
    THE WORLD ECONOMY

    PRICE OF OIL INCOME DISPOSAL THREAD TO ENERGY CONTROL OF OIL


    INCREASE PRODUCTION AS A WEAPON
    SECURITY

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