OPEC OIL EMBARGO - 1973

[PaulK0512]

There is gonna be no economy in the Middle East once the oil depletes.

[cap10exit]

@PaulK0512 we have other customers not only USA. THE WORLD IS HUGE

[shah247]

@cap10exit True, China and India have been a huge income source for OPEC. And anyone notice that they did not once mention OPEC in this? They avoided the name altogether. OPEC was formed in 1960 and this video was aired years later.

[gergar121]

@cap10exit but do you have products for oil because oil by products dont use allots of oil and we have oil too so once we stop using oil for fuel you guys will have no economy.

[theporksicle]

The irony is that today the oil nations are more addicted to oil money than we are to oil. Some of them need $80 a barrel, or more, at peak production to balance their national budgets. If the West's governments unilaterally declared a cap on oil imports, say the US cut its imports in half from 10 million to 5 million a day, the Middle East would be in big trouble.

[asadparvez2]

@ahmedelmoon AGREED.

[CosmicPoonTang]

Saooodi Arabia... lol

[ahmedelmoon]

The west without our oil=nothing.

[griizinjkalns]

@ahmedelmoon

The east without oil = desert

[gergar121]

@ahmedelmoon The east without Oil 17th world countries.

[Clausewitzz]

@ahmedelmoon

The 'world' without oil = about 5 billion people less.

[Souljah2610]

@ahmedelmoon There there friend, the survival of humanity doesn't depend on oil. We manged to live without it before, and will surely survive without oil in the future. There is other sources of energy, like the Sun, giver of all life and energy ! The question is for you my friend, how will arabs survive without oil in the next 50-100 years from now !

[Souljah2610]

@ahmedelmoon And FYI, the "West" are the ones that discovered oil and brought it from underneath the earth's surface ! BTW I'm an arab too, so you can't use the "racist, western, Zionist" argument against me !

[ahmedelmoon]

@Souljah2610 I know that the 1st oil discovery was in Virginia but well let them use their own oil then.(If they have any..because according to my information,only the U.S got oil reserves enough for 50 years)

[publicmario17]

I guess Arab hated Israel so they put in oil embargo on us. 

[ukusapillage]

once he oil stops people with land and food will be kings the middle east will buy food with all the money they won from oil then after they will starve or ww3, not just middle east, but north africa and sub saharian africa, north europe wont be very good aswell, best countrys will be brazil, southeast asia southern europe anywhere were food grows well and theres sun or geo energy

[jarvis612]

a company is under no obligation to sell its produce if it doesnt want to... i would guess that all these current wars are to secure the supply of arab oil... just wait till peak oil starts to hit.. some of the arab countries are using a techneque of pumping sludge into the oil deposits in order to extract the last remaining oil reserves.. peak oil is fast aproaching and will cause the military machines to grid to a hault as well as normal economic activites...

[Hillsillverr]

it was also attempted by sadam hussain and gaddafi, and look were they are today..

[costicam]

@Hillsillverr : Please read the history books. That was the time when you guys start staying on line for haours to fill up.That embargo lasted for 6 months and ended with a bigger oil price.

[hlXt3lam]

@TarheelTad64

Oil for food!!

Do you think we are Arabs we import all our food from your country America? You are stupid. We import food from all over the world. From Brazil, Canada, Russia, China, Australia and Aukranyaogerha countries. We also have self-sufficient in vegetables and fruits.

[gergar121]

i say we boycott these jerks. We should not base our ecomeny on the nut job events of the middle east.

[TarheelTad64]

I say let's stop buying oil from the Arab's they can't eat their oil we'll swap oil for food because they can't grow shit in all that sand am I right?

[theundoneone]

@TarheelTad64

Next time your at the grocery store ask them where the produce is from. Most of the food we make here is a direct or indirect result of cattle and corn....worthless

[ThunderStormBrain]

@TarheelTad64 you are not .. u need to read more, thats all

[Srd1126]

Sah-Oooodi Arabia?

If the Arabs had not invaded Israel then there would be no so-called "occupied" lands to pull out from.

[tuddyfruity4]

is this msnbc?

[MaverickWhig]

Wow you guys accomplished soooo much by arguing in the youtube comments section.

"AASRGH, SPECULATORS"

"Hey man, token criticism of the Iraqi war."

"OPEC and Chinks, blah blah blah."

"Hey man, no blood for oil."

[peteradaniel]

Speculation keeps oil prices high. It's a commodity. Opec can't reduce price, the US government can't reduce the price, not even the distributors can reduce the price. It's idiots on the Chi-town commodities exchange and Wall street banks that push it by buying barrels of it. Just like they do with grain, rice and orange juice. They did the same with gold and mortgages over the last ten years. The oil bubble will burst and price will reduce. The war is just an excuse for them.

[gabbe81]

Wow! Really nothing has changed in 30 years...

[DeusVenator]

OPEC is so dumb. OPEC could raise oil to $300 dollars a barrel and the West will still buy it.

America cannot drill for oil-USA has laws prhibiting drilling.

OPEC Raise prices and kick the West out of Africa and Middle East !!!

[Craigipedia]

@DeusVenator OPEC is the largest single producer, but it is not the only producer. It is in OPEC's interest to keep prices level in order to make sure that it's petroleum resources are the cheapest in the world. Further, OPEC cannot "raise the price". It can only decrease its production... and hope that the rest of the world cannot produce more. If it were to dramatically drop production in order to push oil to $300/barrel nearly all extractable known oil resources would become economical

[DeusVenator]

@Craigipedia What's the difference? Raise price or lower production the results are the same. Yes you're correct about other oil resources will be tapped, that IS the point of it. It will get the West out of Africa and the Middle East. China will be more than happy to buy OPEC's decreased Western demand. No more wars for stategic resources is my goal. Barrel of cheap oil isn't worth a single American or Western life or any life for that matter.

[Civsuccess2]

It's yesterday's news...Oh, no, it's 1973's news. I thought it's yesterday's news when I see the oil price and our president is still Jimmy Carter.  I guess it's only a black version of Jimmy Carter.

[inkey2]

@Civsuccess2 yeah, Obama is Jimmy carter with a better tan

[bilbobagins1951]

this was the begining of the end

[r240j]

lol and they say they want to bomb the whole middle east , too bad for them that Arabs the once who have oil 

[radiodj1520]

In This Clip, From 0:00 To 0:44, It Was NBC News' NBC Nightly News Video Open From Wednesday Evening, October 17, 1973.

[tefachead09]

Note; Since GOP has majority in the house oil prices are on the rise. And on the other side of the coin Dems have done diddly squat to help reduce crude prices. Clinton allways had an envoy from the Dept of energy to keep relations positive with some of the oil producing countries. And OPEC is going to shit in their nest. This 140+ a barrel will destroy any hope of economic recovery for not only America, other countries as well

[nothing980454]

@tefachead09 I'm not saying I disagree with you... quite the opposite actually. BUT, what do you make of oil shale deposits? The US has about 3 times what Saudi Arabia has (yes, it's true. The most oil-shale deposits in the world BY FAR. Check the facts if you wish) and could potentially, sometime in the future, be one of the biggest oil exporting nations in the world as crude oil production drops. Your thoughts?

[wkat950]

I somehow don't remember the beeping/big drum jingle for NBC News (TV) but It may be because the faster jingle was used from 1974 throughout much of the decade. I remember thinking that CBS News was for "old people" and between that and Dad's distrust of CBS we turned on John Chancellor at dinnertime.

[inkey2]

If you did not live through this you can't imagine how crazy this was......cars lined up the street for blocks waiting to buy gasoline.....and it just did not effect driving......heating oil prices skyrocketed, I remember we had our furnace set so low that you could see your breath in the air

[nanlisa]

I also remember when we went on year-round Daylight Savings Time in '74. That Monday morning after we switched over, while I was on the school bus, this one kid got on and said to the driver "Good Evening", but it was still after 7 o'clock in the morning. Unfortunately, it only lasted for ten months.

[padude64]

Opec nine dickheads on a board who regulates gas prices! Blow them away!

[nanlisa]

Just two weeks after my 16th birthday.

[lockheed12345]

@nanlisa LOL that sucks, your new car with no gas LOL

[Mafia1779]

They have about 80 percent of the world's oil reserves and the rest of the world barely 20 percent. Even if we were to "shun" them and drill in all our restricted natural habitats there would still be a huge crises. Petroleum is eventually going to run out but whether its 10 years or 50 years is unknown since they don't tell us. The next obvious shift in energy is going to be natural gas--luckily us and other non-OPEC countries have a huge abundance of that.

[inkey2]

@Mafia1779 re: your posting..."we will run out of oil some day". I was in my first year of college in 1973. I remember news reports, a few reports actually.....that the world only had "5 more years of oil" left in the ground.....well it's 38 years later and we still have oil.......granted it will run out some day......my guess is that in about 30 to 50 years the oild supply will be getting pretty low

[Craigipedia]

@inkey2 this planet probably has enough oil to survive our species... the reason global reserve totals are higher now than they were in the 70s is because oil is more expensive, and the hard to get stuff is more economically viable. Prices will eventually get to a point that other forms of energy become reasonable. The problem is that we use oil for so many other things, and all of those things (toothpaste, plastics, etc) will become more expensive as we run out of cheap hydrocarbons

[inkey2]

@Craigipedia as far as I am concerned I wish we never needed to buy any oil.....I doubt I will live to see that unless something really serious happens....alas you are correct....we use oil for more than just gasoline and heating oil. I remember this oil embargo.....unless you have lived through an oil shortage it's hard to fathom. I was about 20 years old....it was near winter and we had to have our heat turned down so low we could see our breath in the air....it was damn cold (massachusetts)

[Craigipedia]

@inkey2 as a 24-year old grad student I don't have the ability to claim living through fuel shortages, but I will say that I think oil is wonderful. we just use it entirely incorrectly. one cannot turn their sweat into the Starship Enterprise, but we can walk to and from work (though doing so now would require an impossible rebuilding of infrastructure). oil is probably the greatest resource we will ever find (it is the real "unobtainium"), we just waste it in remarkably myopic ways

best

[MrAbd2009]

that was the only wise movement in the modern arabic political pressure to west

[mohalishaf]

May Allah(swt) Bless the Sacred Lands of the Prophets(pbut).. Allah the Ultimate Judge of the Day of Resurrection.. the Day when your children, wealth and status will be of no avail to you.. and to Allah shall we All return.. Allah Akbar.. Ameen,,

[DTD110865]

OPEC created this embargo as an attack on the western world for a war that THE ARAB LEAGUE STARTED!!

[dramaqueen872005]

WOW YOUNG TOM BROKAW

[2036584179]

his eye centered in the wire...in search of those moments

[polos505]

OUT OF GAS RENT A BIKE LOLLLLLLLLLLLLLLLLLLLLLLLLL

[waitew]

ouldn't happen today because of 911.The USSR stopped us then from militarily keeping the oil flowing,but not now thanks to 911.Come to think of it wasCn't it the mujahadeen & Bin Ladin would brought down the USSR & made it possible for the US invade the middle east?Interesting,of course without the USSR/commies to contain we wouldn't need such a large military unless a new enemy came along to keep the defence dollars flowing..Oh wait,one did: Bin Ladin/mujahdeen/Al Queada. Wow they did it all!

[frozenpond]

So the news used to actually tell us what was going on in the World? Amazing.

[totenagaiki]

I was born 1973.I was born Sapporo city.I am no happy,now and ...please give me true love...help!help!help.

アメリカのこの動画に記録されている独特なアナウンスと報道のや­り方が好きです

星へ、旅したい

[RAKSAPEAR]

@totenagaiki hmmm... hi m girl too i think u so pity .ok i wish u find ture love

[zjones1222]

It is clear this Middle East debacle has been going own much too long. The arrogance of Amercans to believe the power of Iran's control of the Middle East oil consuming countries will not pose a threat to our reliance on oil there. We need to come up with creation of products that does not include a resource such as oil to sustain us in the future.

[jackiechan511]

Looks like the US hasn't learned their lesson as they are still consuming more energy than ever. If there is another energy crisis then the US will be panicing

[inkey2]

@jackiechan511 when you have over 300 million people....yeah, they are going to use energy, oil etc

[ShwangShwing]

Americans brag that they are "a free and independent" people. Yet the middle east has got them by the balls.

[inkey2]

@ShwangShwing I am an american and I am really pissed off that we have not learned our lesson after two oil shortages. The USA will get off the oil band wagon but it will take some serious event for it to really take root. Keep in mind that oil is also used in the USA to heat millions of homes....and it gets damed cold here. It's not all used for gasoline

[Metalgear55]

@ShwangShwing do you even know how much America imports from Opec? Countries like Canada,russia,Venzuela are much more important.

[benhoshinji]

@Metalgear55 Erm no i think countries such as Iraq and saudi arabia are much more important. Well saudi arabia is pro USA and so give USA cheap oil, and USA run iraq now, and so probably dont even count it as exporting lol. Russia and Canada are much less important when they can just literally take it from the middle east.

[Metalgear55]

@benhoshinji but america import more from Canada,venzuela then saudi arabia.. so canada is more important then the saudies!

Iraq will be major producer for china/india.. not america... and do you prefer the oil be kept in the ground or sold?

Ameirca has its agenda, and yes they want to keep prices low, but i cant see why arabs want to keep the oil in the ground? thats make no sense at all!

[benhoshinji]

@Metalgear55 who knows why, The USA is just a big bunch of lies and deceit. They pretty much run Venesuala and own iraqs oil. And soon theyll own irans oil. I dont know whats going on, but they will have control of pretty much most of the biggest oil reserves, and so they will control the world.... that i respect them for though.

[Metalgear55]

@benhoshinji who will control what? the us goverment will, but if america was non white, then the problem would not be a problem?

What if america one day was 80 % black or arabic, then you would own the US dollars and the american oil companies... but it wont happen, since the white elite in the united states and europe is their...

Why do you think people like martin luther king/malcolm x has died? the white elite dont want a black messiah! They want to keep the white race in power. Wake up

[all66books]

Quite true, skatemonster.

[skatemonster007]

you know, if the bloody american government would allow the companies to drill off shore and in alaska, the idiots would not be in this situation. but the democrats and all the bloody conservation groups wont allow it. idiots...

[brradsullivan]

there is only about 6months worth oil in alaska, no pipeline to get it anywhere and a 400mile range of mountains in the way...thats the real reason they will never drill it

[inkey2]

@skatemonster007 that is an interesting statement you made 6 months ago. British Petro Co. "has drilled off shore" and look what happened to the gulf of mexico....the worst oil spill in history

[angel4kat]

Here it is 36 years and we are still dealing with oil import having to meet demands!! Why hasn't the US or other countries decided to devote time to research for alternative and more healthy solutions for the environment? Since 1973 we have continued to build gas dependent vehicles and become more dependent on our vehicles, industry, population...all contributions to the oil issues, environmental issues...but WHO is doing anything...the hybrids are coming at least 30 years too late...

[goma3]

The funny thing is in the yrs after this oil shock, the gas mileage of vehicles saw an unprecedented increase due to R&D. Several energy experts affirmed that without this embargo the average US car gas mileage would around 12 mpg. We need times of difficulty to push new technology, it will take oil at $150 to finally get rid of it.

[ghostbusters2012]

Karma always finds a way to bite these people in the ass. They create their own nightmares.

[yourmotherthewhore]

all i know is i would never trade all the money in the world or all the oil in the world if it meant i had to be an arab. arabs are the dirtiest lowliest most disgusting people in the world. god felt bad for them and gave them oil as a means to compensate for everything else he fucked them with. fuck all arabs

[shadowq8]

Hi I am an Arab. I am supposed to feed you here I suppose? Yes I beleive so, I mean that is what the internet is for, feeding haters.

[yourmotherthewhore]

why would you actually be proud to admit that you're a fuckin terrorist Arab. Why don't you go kill more innocent people and especially yourself. Why don't you go stick a fuckin falafel bomb in your asshole

[tropicana20092009]

mother fucker your just a fucking hater cause your broke your mother is a whore you sister is a slut you father is unkowin and he might be a lost donkey cause i know you dirty mother like big dick so go learn somthing first find out which animal chain your kind belong to then start talking about your masters stop being a cocksucking dicklicking ballsloving mother fucker and grow a brain stop using ur ass to think because this is the consequence son of a bitch

[yourmotherthewhore]

i can't even read what you wrote cause you sound so illiterate. but then , what am i to expect from a dumb fool who was born with a piece of schwarma stuck in his asshole. why don't you go blow yourself up you dumb fuck.

[lowgeorge]

...

[Mediterraneanblue9]

Less Arab oil wont hurt the states much...HAHAHAHA!

[SFShooter01]

OPEC is a terrorist organization in itself!!! Shit like this in the past, holding world supplies hostage to gain control and advantage over the world, is why the United States should just begin the end of the world by launching all nuclear missiles at every country and/or nation that has nuclear weapons!!!! This way the freedom in which the US has been trying to spread would finally occur!!! No more war, no more threating of war, and no more world to be corrupted!!!!!!!!!!!!

[Mediterraneanblue9]

So we launch nukes, so that's your answer?

[SFShooter01]

Absolutely!! The United States is the only country in the world that would destroy the world for the sake of ending all suffering and corruption!!

[Mediterraneanblue9]

The peace is always harder to fight.

[Raughwe]

I agree! Sometimes it is very hard for me to find a piece. But it seems like when I do. there's like four or five girls wanting me at the same time. It probably has something to do with the moon or some shit.

[buffblaze]

shut up asshole.

its their oil. dont like it , find other alternatives.

[thereddoor]

do you have any type of knowledge of this 20th century, particularly post WW2, the US strange alliance with Saudi Arabia, the Seven Sisters, the Yom Kippur War, the coup staged by the CIA that had the Shah reinstated in Iran. All of these things plus many other factors make your comments ignorant and insipid and do nothing in furthering the spread of peace and what you understand as western democracy.

[cornfutch]

nixon said 'nam' was over in '73,

I thought it twas more like '75,

I was still duckin&and covering til'79,

Then I learned it started before wwII,

[ccfc73]

American involvement in combat operations ended in '73, but the war itself continued until '75.

[JonThm]

The days of OPEC are over.

[thereddoor]

actually what economist are predicting is we are entering into the "peak oil crisis" first hypothesized by M King Hubbert, mean that OPEC will probably in the coming decades wield more power like in the late 60's and all of the 70's. Divergent energy resources in the 80's and 90's as well as new oil discoveries meant their power did drop off however it is widely agreed OPEC will become powerful again. for better or worse? who the hell knows.

[JonThm]

Oil firms have the heavy engineering the wordl needs for nuclear fusion - power from water with no cO2 or toxic death.

[Srd1126]

CO2 is not a pollutant

[JonThm]

CO2 supports all life on Earth! O2 is teh waste gas of plants, CO2 their food.

[hexzerg]

Yes CO2 is not a pollutant. We breath it out and plants feed on it. Without CO2 all plant life would die.

[Johnmunn01]

@hexzerg look up the definition of pollutant...

[008camhua]

@hexzerg, you need to know with CO2 only all life entities will die. We must keep the balance of the world.

[anilraj420]

the video didnt say shit about the pertodollar

[Srd1126]

Right after this the arab countries stole all the oil from the USA. Funny how little has changed in the oil market as you listen to this.

[ahmadhadji]

arabs never learn

[mbzbugsy]

All this let to US destabilization of the whole region by replacing the shah with an Islamic regime knowing that a war would break out. All this and whole lot more happened just to prevent that. And what can I say, it worked!

[1GXG]

This is getting very serious now.On one hand there are those who still prize this resource as black gold,and on the other hand,we here in the west are constantly getting more ecologically stricter.We can either be bold enough to move to a more greener world,or follow the path of prizing a depleting resource.The solution is not one that panders to conspiracy,but empowers US all to make that transition through democracy.

V O T E . . .ECOLOGY

[GospleWarior]

So what ended this. I was born in '74 so I have no memory of this. I remember seeing references to it in movies that took place in the 70's but that's really all the info if can remember. Seems like this is brewing again in the US. Any one care to comment?

[yaiknowscrewme]

The USA has more oil then saudi arabia in teh northern part of the US.The fucking democrats take kickbacks from arabs and commies which have made us dependant on those arab & red niggers

[wmbrown6]

With the "Voice of NBC News," Bill Hanrahan, as opening announcer. Just curious - where did this clip come from? It certainly looks different in quality from the B&W tapings from Vanderbilt University's archives.

[MyNamesFriday]

I remember sitting in those gas lines for hours with my mom in her 1973 Olds Cutlass S after school when I was in the 8th grade. Odd and even days...that sucked!

[soundsfromnothing]

Yeah, its surprising that Chancellor said that "it wouldn't affect the U.S. much." I wasn't even born yet, but remember my parents talking about it. Gas rationing..locking gas caps...Now I get to experience it. ;)

[soundsfromnothing]

Well, at least the locking gas caps and climbing gas prices. Except for the fact that our own government is screwing us now and blaming it on the arabs.

[angusthethird]

I watched Nixon address the nation with my Mum that Saturday, the 20th. i seem to remember it as a somewhat gloomy evening, a foreboding of the economic climate to come in 1973-74.

[Joelomite]

When will we learn??? We should've drilled for oil BACK THEN. These countries hate us, loathe us and WANT TO KILL US. We need to cut them off, but these hippie politicians keep getting in the way and vote against drilling!! Very frustrating!!!!

[ichiwii]

Good times.