Forty years ago this month, the Organization of Arab Petroleum Exporting Countries (consisting of OPEC's Arab members plus Egypt, Syria and Tunisia) began an oil embargo that would last through March of 1974.
The cause of the embargo: Intervention. During the Yom Kippur War between Egypt and Syria versus Israel, other Arab nations had lent their support to their brothers in northern Africa (as well as the Soviet Union, who supplied weapons). In turn, the United States helped their ally (who had gone on full nuclear alert) by supplying arms and other goods through President Richard Nixon's authorization of Operation Nickle Grass. This prompted OAPEC to respond by beginning an oil embargo whose effects still linger to this day.
In the United States — the main target of the embargo –this led to long lines at the pumps during the weekdays (after a suggestion by Nixon that gas station owners voluntarily not sell fuel on Saturday night and Sunday; 90 percent complied with the suggestion), odd-even fuel rationing, three-color flag systems denoting availability (or lack thereof) of any fuel, and the passing of the Emergency Highway Energy Conservation Act, better known as the act that would set the national speed limit at 55 mph for the next two decades.
Though the first oil crisis would end when OAPEC accepted the promise of a settlement negotiated between Syria and Israel through the United States, the effects of the five-month-long embargo would linger for the rest of the decade and beyond.
Prior to the embargo, the most popular cars sold were large and in charge with big V8s to pull them along the highway. After the shock, however, most motorists sought out smaller, more fuel efficient offerings from Europe and Japan. The shock also gave birth to compact trucks, such as the Chevrolet LUV and Toyota Hilux, and prompted the Big Three to offer their own import fighters prior to downsizing their entire lineup of cars by the end of the 1970s, and the switch to front-wheel drive that would come to dominate the 1980s.
The shock also affected motorsports, with the cancellation of both the 24 Hours of Daytona and the 12 Hours of Sebring in 1974, and NASCAR reducing all race distances by 10 percent.
And of course, the 1973 oil crisis set off the movement to find as many energy sources as possible (and ways to conserve said energy) to reduce if not outright eliminate dependence on foreign oil, as any Albertan or North Dakotan could explain in detail today to anyone who will listen.
from The Truth About Cars http://www.thetruthaboutcars.com
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