Talk:1973 oil crisis

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Former good article 1973 oil crisis was one of the good articles, but it has been removed from the list. There are suggestions below for improving the article to meet the good article criteria. Once these issues have been addressed, the article can be renominated. Editors may also seek a reassessment of the decision if they believe there was a mistake.
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Units[edit]

Units are required on the size of US oil reserves in the section entitled "Price controls and rationing." Currently it reads "America's natural gas reserves dwindled from 237 trillion in 1974 to 203 trillion in 1978, and the price controls were not changed despite President Gerald Ford's repeated requests to Congress." but should probably read "America's natural gas reserves dwindled from 237 trillion in 1974 to 203 trillion litres in 1978, and the price controls were not changed despite President Gerald Ford's repeated requests to Congress." though the above units may be wrong. Gallons perhaps? — Preceding unsigned comment added by 122.106.57.85 (talk) 06:46, 16 November 2012 (UTC)

Graph[edit]

I think the graph could be updated to show 2008's prices and compare them to 1979 prices easily.--neolandes 20:28, 8 February 2009 (UTC) —Preceding unsigned comment added by Neolandes (talkcontribs)

Which graph? NJGW (talk) 20:36, 8 February 2009 (UTC)
The 3 of them, but specially the first, oil prices between 1861 and 2007--neolandes (talk) 00:44, 9 February 2009 (UTC)

Oil Price Increase Relation Inflation[edit]

The cost of everything, world wide, increased rather dramatically after the oil cost increases of 1973 and 1974--with an additional spike in 1979, also relating to Mideastern political turmoil at the time. These are related matters and should be included in the general discussion of major oil price increases. Homebuilding (talk) 22:15, 3 August 2011 (UTC)

Bretton Woods[edit]

  • Irrelevant
  • One POV source

The Independent Review
Volume 9 Number 4
Spring 2005

Black Gold: The End of Bretton Woods and the Oil-Price Shocks of the 1970s
By David Hammes
Douglas Wills

[Abstract] "Economists have debated the causal mechanism by which OPEC policies of the 1970s contributed to the decade’s rise in prices overall, but all sides have assumed that U.S. prices indices are appropriate for computing the real price of oil. This assumption is mistaken and has led economists to overestimate the benefit that the policies brought to OPEC countries and to ignore the effects that ending the Bretton Woods Agreement had on OPEC policies."

The fact is that U.S. prices are the only appropriate measure for the U.S. market.

I would like to delete this entire section.--Cherlin (talk) 19:14, 15 February 2009 (UTC)

I would not be in favor of removing the section. It is clearly supported by the source, as you have proved above. Do you have material to back up your position on this issue? NJGW (talk) 19:36, 15 February 2009 (UTC)
I tend to agree. The results of its termination were a major cause for demanding price increases and had already started before the war. I believe this fact is currently downplayed in the article and the emphasis of causes is passed elsewhere. CasualObserver'48 (talk) 10:35, 16 February 2009 (UTC)

Gas rationing by license plate.[edit]

Can somebody please clean up the section on gas rationing by license plate? From the text it is clear that gas rationing to states was a federal policy via William E. Simon, but it is not clear who implemented rationing by plate number. Was it also a federal policy? Executive vs. Congress? Or was it brought in by individual states? Thank you! (JGDo (talk) 23:33, 1 March 2009 (UTC))

Date conflicts and duplicated content[edit]

I note that dates in the 'Arab oil embargo' section differ somewhat from those for the same events listed in the 'Chronology' section immediately following. It may just be a time zone thing, when it happened in the mideast, versus when it might have been reported in the (US) press across the Atlantic; Europe is closer to the same zone. Additionally, there is considerable duplication of content between the two sections. Collaborative editors, with good RSs in hand, should try to at least make the two consistent. There are also differences between these sections and the lede section.

If I had the refs, my choice would make 'Chronology' more bulleted and 'listy' looking, while moving singular content and refs to the prose section above. Just a suggestion, but then again, there is also 1973 world oil market chronology, which seems to triplicate redundancy. CasualObserver'48 (talk) 10:45, 9 April 2009 (UTC)

Washington Oil Summit?[edit]

Near the end of 'Immediate economic impact of the embargo' the article mentions that the embargo was removed soon after a Washington Oil Summit. There is no such article on wikipedia and there was no Washington Summit in 1973 or in 1974 before March. Leonid Brezhnev did visit Washington in June of 1973, but they discussed nuclear weapon control, not the oil crisis. Can someone either find a reference for this Washington Oil Summit or remove it? Rare Pickle (talk) 03:18, 12 June 2009 (UTC)

Petroleum Fueled Powerplants[edit]

I was looking at some historical information the other day on the Energy Information Administration site. In particular, I was looking at a graph of the amount of electricity generated at plants using petroleum based fuels over the years. This graph rose sharply about 1972, 1973 timeframe. After about three or four years, it started tapering back down. It wasn't too many more years before it was way back down to the previous baseline. If I remember right, at least some of these petrol fired plants were converted from petroleum fuels to natural gas. I'm wondering if some researcher has noticed this before and maybe written a paper or article about a possible association of the rapid increase in petroleum use for generation and the 1970's fuel shortage. (The amount used for generation may have been too small have any affect on fuel supply, I don't know.) --71.214.221.153 (talk) 02:36, 28 April 2010 (UTC)

Dead link[edit]

During several automated bot runs the following external link was found to be unavailable. Please check if the link is in fact down and fix or remove it in that case!

--JeffGBot (talk) 20:41, 6 June 2011 (UTC)

Dead link 2[edit]

During several automated bot runs the following external link was found to be unavailable. Please check if the link is in fact down and fix or remove it in that case!

--JeffGBot (talk) 20:41, 6 June 2011 (UTC)

Vandalism[edit]

See vandalism [1], at the beginning of "End of Bretton Woods" section. — Preceding unsigned comment added by 71.146.88.109 (talk) 05:05, 22 August 2011 (UTC)

US 1970 oil production peak basic reason for the 1973 oil crisis, the "embargo" an almost non event[edit]

Isn't it time to realize that relating the 1973 oil crisis to the so called "arab embargo" is one of the biggest myth of our time or recent history ?

Not much time, but a good starting point is : http://books.google.fr/books/about/The_Age_of_Oil.html?id=JWmx5uKA6gIC&redir_esc=y Chapter 9

Basically following 1970 US peak : - The majors needed a higher oil price to start more expensive plays : GOM, Alaska, North Sea - Higher oil prices was also the strategy of US diplomacy (James Akins) - US oil imports started to rise sharply following 1970 US peak : http://upload.wikimedia.org/wikipedia/commons/c/c5/US_Oil_Production_and_Imports_1920_to_2005.png - Yom Kippur accelerated the price rise that started earlier, but the embargo was never really effective (and limited to 5% anyway) and lasted 3 or 4 months - Saudi Arabia "cheated" the embargo towards the US throughout, see James Akins interview below in second part after 21:00 or so : http://iiscn.wordpress.com/2011/05/06/bataille-et-lenergie/ (infortunately dubbed) Tankers kept on going from KSA to US army in Vietname in particular, going through Barhain to make it more discrete.

In the end this "embargo story" was very practical for everyone : - for the US to hide its 1970 production peak to its public opinion or western opinion in general - for the Arab producing nations to show the "arab street" that they were doing something "for the palestinians".82.230.35.79 (talk) 17:27, 18 February 2013 (UTC) yt75

what is this junk in the middle of the article?[edit]

"Template:After which oneand "

?? 68.38.197.76 (talk) 07:29, 18 November 2013 (UTC)

trillion what?[edit]

"America's natural gas reserves dwindled from 237 trillion in 1974 to 203 trillion in 1978" 68.38.197.76 (talk) 07:40, 18 November 2013 (UTC)