Talk:1973 oil crisis

Units

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

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 (talk • contribs)

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

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

• 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.

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

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?

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

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

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Dead link 2

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Vandalism

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

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

I agree that the embargo was a hoax but the peak production is even hoaxier. My brother-in-law drove by a finery everyday to and from work. He said the frost line was at the top of the entire tank farm. Oil tankers were anchored off the coast floating low in the water. There was no shortage, just some economic game between the big boys or/and politics. I never ran out of gas or heating oil in the entire period - never heard of anyone who did. Getting my gas on Monday, not Tuesday, made little difference. But boy did the majority of idiots, and the news, go crazy. 2601:181:8000:D6D0:F4D3:8C2A:346E:608E (talk) 00:53, 3 December 2015 (UTC)

what is this junk in the middle of the article?

"Template:After which oneand "

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

trillion what?

"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)

unexplained deletion

A big chunk of the lede was deleted here by an anonymous editor with an edit summary "(→‎High-level summary: Fixed typo)" --BoogaLouie (talk) 22:48, 12 December 2014 (UTC)

CopyeditP

Per the tag, copyedited this. Feedback encourage! Comments:

• I left some apparently nonsensical sentences in the text. In one case, the ref was in French, so I could not verify its accuracy. I left comments inline for the worst examples.
• The piece is too US-centric. I remedied what I could.
• Many assertions still need footnotes.
• I reduced the text by about 1/3, mostly by eliminating in-its-own-way prose, but also eliminating some trivia and some points that weren't really germane, or were too far beyond the event. It could be further shortened.
• The bit about the auto industry is probably still too detailed (I removed a lot of excess.) And where is the impact on other energy-intensive industries (electricity, heating, chemicals, aluminim, etc.)

Cheers! Lfstevens (talk) 06:04, 5 January 2015 (UTC)

Chronology

I'm a bit confused as to the way the Chronology section is arranged. The Chronology section begins with "January 1973: Stock market 1973-1974 crash...due to ... Nixon's resignation."

Nixon did not resign until August 1974. I believe this should be corrected immediately as it is incorrect and confusing. When reading the timeline, one comes to believe Nixon resigned in 1973, which he did not.

http://www.washingtonpost.com/wp-srv/national/longterm/watergate/articles/080974-3.htm

Polancox (talk) 15:08, 25 March 2015 (UTC)

Links

There is an old link for CBS or something where it says oil went up to 12 dollars a barrel. Couldn't find one to replace — Preceding unsigned comment added by 69.117.137.91 (talk) 02:11, 1 April 2015 (UTC)

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OPEC, OAPEC

"Organization of Arab Petroleum Exporting Countries, commonly known as OPEC"

Change to OAPEC — Preceding unsigned comment added by 157.107.88.3 (talk) 05:53, 29 January 2017 (UTC)

Extended-confirmed-protected edit request on 12 February 2017

From the Introduction: I request the editing of this sentence: "The reason was the United States weapon deliveries to Israel during the Yom Kippur war,[1] which ended in a total mess for the Egyptian Army, as Cairo was threatened to be (at least) surrounded by General Ariel Sharon's army units."

Firstly, the second half of the sentence bears no citation. Secondly, the entire sentence should be reworked such that it is less ambiguous, such as replacing "the reason was the United States etc." with, "The embargo occurred in response to United States' support for Israel during the Yom Kippur War." Thirdly, splitting the sentence at the [1] would be beneficial as it is very long and adds to the sentence's ambiguity. Finally, the second half of the sentence, beginning with "which ended in a total," is arguably, written in a biased manner. The use of "a total mess for" is unprofessional and should be reworked. Cairo being threatened to be surrounded by General Ariel Sharon's army units is information that is uncited. The use of "at least" in this case was also unprofessional. Darshjr (talk) 15:44, 12 February 2017 (UTC)

Done — Train2104 (t • c) 15:19, 19 February 2017 (UTC)

Extended-confirmed-protected edit request on 13 March 2017

could you change lamented in this sentence:

Some buyers lamented the small size of the first Japanese compacts, and both Toyota and Nissan (then known as Datsun) introduced larger cars such as the Toyota Corona Mark II, the Toyota Cressida, the Mazda 616 and Datsun 810, which added passenger space and amenities such as air conditioning, power

to something like loathed or hated? Untissuntiss13 (talk) 02:15, 13 March 2017 (UTC)

 Not done The definition of lamented isn't quite the same as loathing. Dictionary.com defines it as to feel or express sorrow or regret for a given change. The wording in place suits better as per WP:NPOV. IVORK _Discuss 02:39, 13 March 2017 (UTC)

Extended-confirmed-protected edit request on 17 March 2017

Please change sentence "He wrote that nstead of providing stable rules that support basic research while leaving plenty of scope for entrepreneurship and innovation, congresses and presidents have repeatedly backed policies which promise solutions that are politically expedient, but whose prospects are doubtful." to "He wrote that instead of providing stable rules that support basic research while leaving plenty of scope for entrepreneurship and innovation, congresses and presidents have repeatedly backed policies which promise solutions that are politically expedient, but whose prospects are doubtful."

There is a missing i in the word instead. 109.76.131.17 (talk) 01:24, 17 March 2017 (UTC)

 Done Thanks! IVORK _Discuss 01:51, 17 March 2017 (UTC)

Extended-confirmed-protected edit request on 1 April 2017

I found this source by Donald Neff, written in the Washington Report on Middle East Affairs, October/November 1997, pages 70-72. Its website title is Nixon Administration Ignores Saudi Warnings, Bringing on Oil Boycott, and it's web address is http://ifamericaknew.org/us_ints/oil-boycott.html . Mr. Neff states that Richard Nixon was taken by surprise when the Arabs placed an oil embargo on the United States for its military support of Israel during the Yom Kippur War of 1973 because Nixon in his own words said that "oil without a market does not do a country much good," and because the Israeli foreign minister Abba Eban told Nixon that the Arabs only really have oil as a resource with which to export and would therefore not impose an oil boycott on the United States in the event of a Soviet-backed Arab war against Israel. I am unfamiliar with the procedures involved in how to web archive a web site, and I was wondering if one of the administrators or official editors of this Wikipedia site could do it for Mr. Neff's article. Thank you. Suspended Time (talk) 04:29, 1 April 2017 (UTC)

@Suspended Time: – pinging proposer.  Paine Ellsworth  ^put'r there  16:32, 27 April 2017 (UTC)

So sorry, maybe it's me, but I cannot understand what it is you want to change/improve in this article. Would you mind explaining a little more exactly what it is you would like to see done?  Paine Ellsworth  ^put'r there  01:21, 27 April 2017 (UTC)

Not done: it's not clear what changes you want to be made. Please mention the specific changes in a "change X to Y" format.  Paine Ellsworth  ^put'r there  01:53, 13 May 2017 (UTC)

Extended-confirmed-protected edit request on 18 April 2017

Change X : Saudi Arabia, on the other hand, is an Arab, largely Sunni Muslim nation headed by a near absolutist monarchy. In the wake of the Iranian revolution the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of Islamism, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Wahhabi extremists during November 1979 and a Shiite revolt in the oil rich Al-Hasa region of Saudi Arabia in December of the same year.

The oil shock disrupted the status quo relationships between Arab countries and the US and USSR. At the time, Egypt, Syria and Iraq were allied with the USSR, while Saudi Arabia, Turkey and Iran (plus Israel) aligned with the US. Vacillations in alignment often resulted in greater support from the respective superpowers.

When Anwar Sadat became president of Egypt in 1970, he dismissed Soviet specialists in Egypt and reoriented towards the US. Concerns over economic domination from increased Soviet oil production turned into fears of military aggression after the 1979 Soviet invasion of Afghanistan, turning the Persian Gulf states towards the US for security guarantees against Soviet military action.

The USSR's invasion of Afghanistan was only one sign of insecurity in the region, also marked by increased American weapons sales, technology, and outright military presence. Saudi Arabia and Iran became increasingly dependent on American security assurances to manage both external and internal threats, including increased military competition between them over increased oil revenues. Both states were competing for preeminence in the Persian Gulf and using increased revenues to fund expanded militaries. By 1979, Saudi arms purchases from the US exceeded five times Israel's. Saudi Arabia, on the other hand, is an Arab, largely Sunni Muslim nation headed by a near absolutist monarchy. In the wake of the Iranian revolution the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of Islamism, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Wahhabi extremists during November 1979 and a Shiite Muslim revolt in the oil rich Al-Hasa region of Saudi Arabia known in December of the same year, known as the 1979 Qatif Uprising. In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as "a snake whose head should be cut off without any procrastination."

To Y please:

Arab states

Prior to the embargo, the geo-political competition between the Soviet Union and the United States, in combination with low oil prices that hindered the necessity and feasibility of alternative energy sources, presented the Arab States with financial security, moderate economic growth, and disproportionate international bargaining power.

The oil shock disrupted the status quo relationships between Arab countries and the US and USSR. At the time, Egypt, Syria and Iraq were allied with the USSR, while Saudi Arabia, Turkey and Iran (plus Israel) aligned with the US. Vacillations in alignment often resulted in greater support from the respective superpowers.

When Anwar Sadat became president of Egypt in 1970, he dismissed Soviet specialists in Egypt and reoriented towards the US. Concerns over economic domination from increased Soviet oil production turned into fears of military aggression after the 1979 Soviet invasion of Afghanistan, turning the Persian Gulf states towards the US for security guarantees against Soviet military action.

The USSR's invasion of Afghanistan was only one sign of insecurity in the region, also marked by increased American weapons sales, technology, and outright military presence. Saudi Arabia and Iran became increasingly dependent on American security assurances to manage both external and internal threats, including increased military competition between them over increased oil revenues. Both states were competing for preeminence in the Persian Gulf and using increased revenues to fund expanded militaries. By 1979, Saudi arms purchases from the US exceeded five times Israel's. Saudi Arabia, an Arab, largely Sunni Muslim nation headed by a near absolutist monarchy, was forced to deal with the prospect of internal destabilization via the radicalism of Islamism from the Shiite Muslim, Persian theocracy which came to power in Iran in the wake of the 1979 Iranian Revolution, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Sunni Wahhabi extremists during November 1979 and a Shiite Arab revolt in the oil rich Al-Hasa region of Saudi Arabia in December of the same year, the latter of which is known as the 1979 Qatif Uprising. In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as "a snake whose head should be cut off without any procrastination."

}} Suspended Time (talk) 05:50, 21 April 2017 (UTC)

I would suggest that you invite discussion (on this, the talk page for the article) rather than simply requesting a change as wide as this. You may find that with others you narrow down (or widen) the scope of your changes to make them more useful to the article. Britmax (talk) 07:29, 21 April 2017 (UTC)

References

Extended-confirmed-protected edit request on 21 April 2017

change this sources link --> 2."OPEC Oil Embargo 1973–1974". U.S. Department of State, Office of the Historian. Retrieved August 30, 2012.

from this ---> https://history.state.gov/milestones/1969-1976/OPEC

to this ----> https://history.state.gov/milestones/1969-1976/oil-embargo

glad to help :) message me for any problems Untissuntiss13 Untissuntiss13 (talk) 22:08, 21 April 2017 (UTC)

To editor Untissuntiss13:  Done and thank you very much for the external link correction!  Paine Ellsworth  ^put'r there  01:14, 27 April 2017 (UTC)

Extended-confirmed-protected edit request on 22 April 2017

Change X:

Saudi Arabia, on the other hand, is an Arab, largely Sunni Muslim nation headed by a near absolutist monarchy. In the wake of the Iranian revolution the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of Islamism, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Wahhabi extremists during November 1979 and a Shiite Muslim revolt in the oil rich Al-Hasa region of Saudi Arabia known in December of the same year, known as the 1979 Qatif Uprising. In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as "a snake whose head should be cut off without any procrastination."

to Y please:

Saudi Arabia, an Arab, largely Sunni Muslim nation headed by a near absolutist monarchy, was forced to deal with the prospect of internal destabilization via the radicalism of Islamism from the Shiite Muslim, Persian theocracy which had come to power in Iran in the wake of the 1979 Iranian Revolution, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Sunni Wahhabi extremists during November 1979 and a Shiite Arab revolt in the oil-rich Al-Hasa region of Saudi Arabia in December of the same year, the latter of which is known as the 1979 Qatif Uprising. In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as "a snake whose head should be cut off without any procrastination." Suspended Time (talk) 02:03, 22 April 2017 (UTC)

Not done: not sure why you want to turn a three-sentence paragraph into a two-long-sentence paragraph. If anything, the sentences need to be shortened for clarity and ease of reading. Thank you for your edit request!  Paine Ellsworth  ^put'r there  01:36, 27 April 2017 (UTC)

References

Extended-confirmed-protected edit request on 28 April 2017

Change X :

Saudi Arabia, on the other hand, is an Arab, largely Sunni Muslim nation headed by a near absolutist monarchy. In the wake of the Iranian revolution the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of Islamism, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Wahhabi extremists during November 1979 and a Shiite Muslim revolt in the oil rich Al-Hasa region of Saudi Arabia known in December of the same year, known as the 1979 Qatif Uprising. In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as "a snake whose head should be cut off without any procrastination."

to Y please:

In the wake of the 1979 Iranian Revolution the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of Islamism, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Wahhabi extremists during November 1979 and a Shiite Muslim revolt in the oil rich Al-Hasa region of Saudi Arabia known in December of the same year, known as the 1979 Qatif Uprising. Saudi Arabia is a near absolute monarchy , an Arabic speaking country, and has a Sunni Muslim majority, while Persian speaking Iran since 1979 is an Islamist theocracy with a Shiite Muslim majority. In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as "a snake whose head should be cut off without any procrastination." Suspended Time (talk) 00:51, 28 April 2017 (UTC)

Note: Please see next section.  Paine Ellsworth  ^put'r there  01:31, 13 May 2017 (UTC)

References

Extended-confirmed-protected edit request on 12 May 2017

Change X :

Saudi Arabia, on the other hand, is an Arab, largely Sunni Muslim nation headed by a near absolutist monarchy. In the wake of the Iranian revolution the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of Islamism, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Wahhabi extremists during November 1979 and a Shiite Muslim revolt in the oil rich Al-Hasa region of Saudi Arabia known in December of the same year, known as the 1979 Qatif Uprising. In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as "a snake whose head should be cut off without any procrastination."

to Y please:

In the wake of the 1979 Iranian Revolution the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of Islamism, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Wahhabi extremists during November 1979 and a Shiite Muslim revolt in the oil rich Al-Hasa region of Saudi Arabia known in December of the same year, known as the 1979 Qatif Uprising. Saudi Arabia is a near absolute monarchy , an Arabic speaking country, and has a Sunni Muslim majority, while Persian speaking Iran since 1979 is an Islamist theocracy with a Shiite Muslim majority, which explains the current hostility between Saudi Arabia and Iran. In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as "a snake whose head should be cut off without any procrastination." Suspended Time (talk) 06:38, 12 May 2017 (UTC)

 Done with slight changes for punctuation and readability.  Paine Ellsworth  ^put'r there  01:31, 13 May 2017 (UTC)

References

Extended-confirmed-protected edit request on 22 May 2017

The entry should be re-written to reflect the role that Peak Oil in the U.S. played in shifting the power to manage U.S. oil prices from the Texas Railway Commission (TRC) to OPEC. In short: The TRC engaged in market-demand prorationing--matching the supply of oil to predicted demand--in order to stablize the price. (The extreme volatility of the oil market had ruined many a Texas producer, many a Texas oil boom town, and had had undesirable effects for consumers and the environment as well.) When U.S. oil production peaked in 1972, it was no longer possible to increase production to match predicted increases in demand. The power to regulate the price through regulation of supply shifted from the TRC to OPEC. They exercised that power almost immediately (and we might say most intemperately), producing a 68% rise in U.S. oil prices in 1973 as punishment of U.S. support of Israel in the Yom Kippur war.

Extremely inelastic demand for oil is the reason that small shifts in supply have large effects on price. It was this volatility that the TRC moderated for nearly three decades. OPEC now does market demand prorationing, with Saudi Arabia playing the same role now that Texas did then--that of the largest producer who could easily afford to adjust output to balance national (Texas) or global (OPEC) supply with national/global demand. Ecoleconomist (talk) 13:01, 22 May 2017 (UTC)

Not done: please provide reliable sources that support the change you want to be made. You may also need to garner a consensus for this change.  Paine Ellsworth  ^put'r there  23:43, 26 May 2017 (UTC)

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Cheers.—InternetArchiveBot (Report bug) 11:38, 3 September 2017 (UTC)

Mosaddegh name typo

In the OPEC section, Mohammad Mosaddegh's name is badly misspelled in the link to his article. Someone fix it, please. 98.247.224.9 (talk) 21:24, 1 July 2018 (UTC)

Seraphim System's edit

Seraphim System, could you please explain why you removed sourced content explaining that American airlift to Israel during the Yom Kippur War was a response to previous support to Arab states by the Soviets?--יניב הורון (Yaniv) (talk) 19:23, 3 July 2018 (UTC)

It is not sourced - I made sure that the citation did not source anything in the article before I removed it. It is a weak source to what seems to be a workshop project at a University. I don't even think it would be considered WP:RS. I will add more about the Soviets tomorrow.Seraphim System ^(talk) 19:32, 3 July 2018 (UTC)

I've added a better source for the Soviets.--יניב הורון (Yaniv) (talk) 22:08, 3 July 2018 (UTC)

Recent reverts

User:יניב הורון Can you explain your objection to [2]? I did not really expect this to be challenged since it is consensus content from the LEDE of the Yom Kippur War article, which is a high visibility article and has many editors actively involved. I assumed there would be consensus for prominent lede content in that article.Seraphim System ^(talk) 23:44, 30 August 2018 (UTC)

"Israeli-occupied territories" is too vague in this case and seems to justify a war of aggresion. Also it's unnecessary since this is not an article about the Yom Kippur War.--יניב הורון (Yaniv) (talk) 16:57, 4 September 2018 (UTC)

I don't really buy your explanation here since the original version you removed was more specific. I will be restoring that version based on this comment. Seraphim System ^(talk) 03:33, 6 September 2018 (UTC)

And I will keep reverting it.--יניב הורון (Yaniv) (talk) 21:06, 6 September 2018 (UTC)