The situation is serious ... we must do more." Washington DC -- October 17 marks the 40th anniversary of the start of the 1973 Arab Oil Embargo -- an event that arguably launched the United States ...

AT A GLANCE • The Middle East oil embargo of 1973 spurred the creation of the Strategic Petroleum Reserve, or SPR, to safeguard U.S. national energy security against such events in the future.

1973, in the wake of a national fuel shortage. In response to U.S. support of Israel during the Yom Kippur War, the Organization of Arab Petroleum Exporting Countries had launched an oil embargo ...

The 1973 oil crisis began when Arab producers led by Saudi Arabia slapped an oil embargo on Western supporters of Israel in its war with Egypt, targeting Canada, Japan, the Netherlands ...

In 1973, a 14% drop in global supply during the Arab oil embargo quadrupled prices and triggered economic chaos across the West. Today, an outright closure of the strait would dwarf that shock. Crude ...

It has been 50 years since the Arab oil embargo and the ensuing crisis, which broke in October 1973. The initiating action was the embargo, but I recall that markets were tightening ahead of that ...

The United States established its Strategic Petroleum Reserve (SPR) in the wake of the 1973–1974 oil embargo that disrupted oil imports and drove oil prices much higher. The SPR consists ...