Arab oil crisis of 1973 and its effect on the automobile industry

The 1973 oil boycott began in response to the Yom Kippur War.

In October 1973, during the most important Israeli holyday, the country was invaded in a surprise attack by the combined armies of Egypt, Syria and Jordan, which were supported by the Soviet Union.

After the surprise invasion, Israel eventually fought back and defeated the Arab armies, by the end encircling the Egyptian Third Army and with the land army shelling the outskirts of Damascus.

During Israel's recovery from the invasion, it received largescale logistical support and military resupplies from the United States of America.

After the Arab military defeat, Saudi Arabia, Iran, Iraq, Abu Dhabi, Kuwait and Qatar decided to punish America, as well as Canada, UK, Rhodesia, Netherlands and South Africa, for their support of Israel.

Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. The embargo was targeted at nations perceived as supporting Israel, which was principally USA, but also Rhodesia, Canada, UK, Netherlands and South Africa which was allied with Israel.

Effects of the higher oil prices were far more widespread than simply in the Middle East, and resulted in long-term cultural and economic changes.

Report on the effect on fuel efficiency of automobiles at the time of the Arab oil boycott.

The crisis resulted in more fuel efficient cars and an end of the land yacht era of cars. The rapid rise in oil prices resulted in a new era of smaller cars and higher oil prices.

Added:

By: m16carbine (5633.60)

Tags: 1973, arab, oil, boycott, middle east, egypt, iraq, syria, jordan, iran, turkey, america, automobile, car, industry