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OPEC

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Once the oil superpowers were united, they were able to regulate not only the ... Egypt's Sinai Peninsula, Syria's Golan Heights, Jordan's West Bank, and the ... – PowerPoint PPT presentation

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Title: OPEC


1
OPEC
  • The Oil Crisis of the 1970s

Dhurata Osmani Carlos Capellan
2
OPEC
3
The Oil Superpowers
  • Once the oil superpowers were united, they were
    able to regulate not only the rate of production
    but also the price of oil
  • This ability that the OPEC superpowers had gave
    them the powerful weapon they needed to go
    against Israel, the US, and their allies

4
Israel
  • Israel was not recognized by the Arab nations
    because of the ongoing conflict with the Jews in
    Israel
  • In 1948,when the UN recognized Israel as a state,
    the ongoing wars would begin between the Arab
    nations and the Jews who were survivors of the
    Holocaust

5
WAR
  • The 6-day War of 1967,was one of the brutal of
    the wars in which the 5 surrounding Arab nations
    attacked Israel
  • During the heinous days of fighting, Israel
    captured Egypts Sinai Peninsula, Syrias Golan
    Heights, Jordan's West Bank, and the Jordanian
    half of the city of Jerusalem
  • Israel would surrender these territories, if and
    only if, the Arab oil superpowers would recognize
    Israel as a state, in which the Arabs refuse
    until this day, bringing death to many innocent
    citizens, terrorist attacks, and border raids

6
Envy, Hatred, Revenge
NEVER ENDING
  • In October of the year 1973, the resentment and
    aggression between the two sides erupted into
    another full-blown total war
  • In hopes of catching the Israelis off guard, the
    Arab superpowers attacked Israel on Yum Kippur,
    one of the holiest days for the Jews
  • However, military strength from the US and
    training, the Israelis were able to defeat the
    Arabs yet again

7
Destroying Others Economy
  • Realizing they could not beat the Israelis and
    their allies with blood and iron, the Arabs
    decided to attack the US and Israel economically
    by cutting off their supply of oil
  • This strategy finally worked in the favor of the
    Arabs since oil is essential to all countries
    economically, agriculturally and industrially.

8
OIL EMBARGO
  • The world economy was severely damaged by the
    Arab oil embargo
  • The U.S. was appalled at how much the embargo
    effected the country and its economy
  • Immediately, the US had to take steps to preserve
    oil use and cutting the supply using alternate
    fuels since the supply of petroleum had become
    limited

9
Promoting Peace
  • Fueled by the oil embargo, the US was at a high
    at trying to enforce peace talks between the
    Arabs and Israelites
  • The US even tried to be more fair with its
    relations since many Arabs claimed that the US
    was bias towards the Israelites
  • This policy still continues today and the effects
    of the events of the Oil Crisis of the 1970s can
    be seen today as the price of oil is constantly
    increasing and Israel continues to be in the
    headlines

10
Thank You !Come Again !
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