Re: Price of crude oil.

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Post #37,580

by a6l6e6x

5/5/02 5:23:51 PM

Re: Price of crude oil.

[link|http://www.wtrg.com/prices.htm|Oil Price History and Analysis.]

In 1972 the price of crude oil was about $3.00 and by the end of 1974 the price of oil had quadrupled to $12.00.

So, what happened to cause such a turn of events?

The Yom Kippur War started with an attack on Israel by Syria and Egypt on October 5, 1973. The United States and many countries in the western world showed strong support for Israel. As a result of this support Arab exporting nations imposed an embargo on the nations supporting Israel. Arab nations curtailed production by 5 million barrels per day (MMBPD) about 1 MMBPD was made up by increased production on other countries. The net loss of 4 MMBPD extended through March of 1974 and represented 7 percent of the free-world production.

There's a clue here about relevance of Israel to oil prices.

Alex

"Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing had happened." -- Winston Churchill (1874-1965)

Post #37,593

by Brandioch

5/5/02 8:38:46 PM

That's a "clue"?

Ummm, that is EXACTLY what I have been saying OVER AND OVER AND OVER AND OVER.

This isn't about Israel.

This is about keeping the Arab states happy.

As a result of this support Arab exporting nations imposed an embargo on the nations supporting Israel.

We supported something/someone they didn't want us to support and did not support something/someone they did want us to support.

In other words, we made them unhappy.

We made them unhappy because of our support of something/someone they didn't want us to support.
They are unhappy because we did not support something/someone they wanted us to support.

So they hit back via oil.

The same thing with Yasser.
If we support Israel, they are unhappy.
If we don't support Yasser, they are unhappy.

I am NOT a racist. - (mmoffitt) - (93) - April 30, 2002, 06:14:47 PM EDT

[oil] - the easy, evident, obvious explanation for All. -NT - (Ashton) - (87) - April 30, 2002, 06:49:44 PM EDT

No its not... - (bepatient) - (86) - April 30, 2002, 07:08:09 PM EDT

Define "have". - (Brandioch) - (85) - April 30, 2002, 10:43:48 PM EDT

Well its very simple... - (bepatient) - (84) - May 1, 2002, 12:55:53 AM EDT

That >IS< risking national security. - (Brandioch) - (83) - May 1, 2002, 01:09:40 AM EDT

Sure... - (bepatient) - (82) - May 1, 2002, 03:05:18 AM EDT

Try that without the "you think". - (Brandioch) - (81) - May 1, 2002, 06:17:47 PM EDT

Damn you're funny. - (bepatient) - (80) - May 1, 2002, 06:37:33 PM EDT

Why can't you answer simple questions? - (Brandioch) - (79) - May 1, 2002, 08:55:08 PM EDT

Why do you answer questions with questions? -NT - (bepatient) - (78) - May 1, 2002, 10:57:51 PM EDT

To highlight your flaws. - (Brandioch) - (77) - May 2, 2002, 12:28:51 PM EDT

If you are going to continue... - (bepatient) - (14) - May 2, 2002, 03:01:25 PM EDT

Can you answer the questions? Are you capable of answering? - (Brandioch) - (11) - May 2, 2002, 04:09:43 PM EDT

Since you seem incapable... - (bepatient) - (10) - May 2, 2002, 09:13:17 PM EDT

It's good to see you're staying true to form. - (Brandioch) - (9) - May 2, 2002, 09:50:06 PM EDT

Slight variant... - (bepatient) - (8) - May 3, 2002, 01:19:25 AM EDT

The name of the country, Bill. Or the resource. That's all. - (Brandioch) - (7) - May 3, 2002, 11:37:55 AM EDT

You seem to want me to repeat myself. - (bepatient) - (6) - May 3, 2002, 01:18:16 PM EDT

The name of the country, Bill. Or the resource. That's all. - (Brandioch) - (5) - May 3, 2002, 02:32:24 PM EDT

This space and your mind = blank -NT - (bepatient) - (4) - May 3, 2002, 10:21:07 PM EDT

The name of the country, Bill. Or the resource. That's all. - (Brandioch) - (3) - May 3, 2002, 11:10:15 PM EDT

It's getting tiresome. :-( Perhaps - (Another Scott) - (2) - May 3, 2002, 11:35:34 PM EDT

Yes it is... - (bepatient) - (1) - May 4, 2002, 01:15:02 AM EDT

The name of the country, Bill. Or the resource. That's all. - (Brandioch) - May 4, 2002, 08:43:49 AM EDT

Science says you're wasting your time. - (marlowe) - (1) - May 2, 2002, 05:48:24 PM EDT

Bill + Marlowe. - (Brandioch) - May 2, 2002, 06:01:59 PM EDT

Please be realistic - (Steven A S) - (61) - May 2, 2002, 05:03:12 PM EDT

Perhaps you can narrow the field? - (Brandioch) - (60) - May 2, 2002, 05:54:37 PM EDT

Swing and a miss... - (bepatient) - (59) - May 2, 2002, 09:20:22 PM EDT

Just tell me the name of the country, Bill. - (Brandioch) - (58) - May 2, 2002, 10:03:53 PM EDT

Count China on the following link... - (bepatient) - (57) - May 4, 2002, 07:47:17 PM EDT

And you go down in flames. - (Brandioch) - (56) - May 4, 2002, 08:54:24 PM EDT

Ahh.. - (bepatient) - (51) - May 4, 2002, 09:55:15 PM EDT

Cry about it. But you know I'm right. - (Brandioch) - (50) - May 5, 2002, 01:14:34 AM EDT

I know of no such thing. - (bepatient) - (49) - May 5, 2002, 02:27:18 AM EDT

Well... since t'was I who uttered the [oil] generalization - (Ashton) - (1) - May 5, 2002, 04:07:12 AM EDT

We won't complain about Taiwan. - (Brandioch) - May 5, 2002, 11:45:03 AM EDT

There's a LOT you don't know, Bill. - (Brandioch) - (46) - May 5, 2002, 11:40:48 AM EDT

A perfect display of your cluelessness.... - (bepatient) - (45) - May 5, 2002, 11:48:17 AM EDT

WTF? - (Brandioch) - (44) - May 5, 2002, 12:46:37 PM EDT

Re: WTF? (planet are you on) - (bepatient) - (43) - May 5, 2002, 01:27:31 PM EDT

It's called "Earth". You might want to visit sometime. - (Brandioch) - (42) - May 5, 2002, 02:51:49 PM EDT

Re: Price of crude oil. - (a6l6e6x) - (1) - May 5, 2002, 05:23:51 PM EDT

That's a "clue"? - (Brandioch) - May 5, 2002, 08:38:46 PM EDT

Wow...thats deep... - (bepatient) - (39) - May 6, 2002, 12:00:53 AM EDT

Do you not know how to read? - (Brandioch) - (38) - May 6, 2002, 01:05:50 AM EDT

I don't mean to pry... - (bepatient) - (37) - May 6, 2002, 01:46:45 AM EDT

I'll even give you the format, Bill "strawman" Patient. - (Brandioch) - (36) - May 6, 2002, 11:13:51 AM EDT

Wow..thats deep sir. - (bepatient) - (35) - May 6, 2002, 12:01:57 PM EDT

Strawman strikes again. - (Brandioch) - May 6, 2002, 02:51:02 PM EDT

Simple Question. - (mmoffitt) - (33) - May 6, 2002, 02:57:59 PM EDT

Simple Answer, perhaps - (rsf) - (1) - May 6, 2002, 04:57:04 PM EDT

But isn't that still about the oil? - (Brandioch) - May 6, 2002, 05:16:30 PM EDT

Simple answer... - (bepatient) - (30) - May 6, 2002, 05:20:59 PM EDT

Ummm, that wasn't "simple". - (Brandioch) - (21) - May 6, 2002, 09:17:44 PM EDT

But you seem to be. - (bepatient) - (18) - May 6, 2002, 10:14:42 PM EDT

The country is Uzbekistan. - (Brandioch) - (17) - May 7, 2002, 02:19:27 AM EDT

Congratulations.... - (bepatient) - (13) - May 7, 2002, 09:05:21 AM EDT

Like I said, "strawman". - (Brandioch) - (12) - May 7, 2002, 11:11:58 AM EDT

Reading ability? - (bepatient) - (11) - May 7, 2002, 11:50:29 AM EDT

You concede? - (mmoffitt) - (3) - May 7, 2002, 11:53:18 AM EDT

Dude...sure...why not. - (bepatient) - (2) - May 7, 2002, 02:20:35 PM EDT

Saved to File, Burned on CD. Thanks -NT - (mmoffitt) - (1) - May 7, 2002, 02:48:57 PM EDT

Anytime ;-) -NT - (bepatient) - May 7, 2002, 03:20:21 PM EDT

Protocol and courtesy. - (Brandioch) - (6) - May 7, 2002, 02:37:59 PM EDT

You follow neither. - (bepatient) - (5) - May 7, 2002, 03:17:07 PM EDT

And when it falls to ME to explain courtesy...... - (Brandioch) - (4) - May 7, 2002, 03:48:55 PM EDT

Pardon me.. - (bepatient) - (3) - May 7, 2002, 04:08:25 PM EDT

So, you admit you know nothing about the mid-east. - (Brandioch) - (2) - May 7, 2002, 05:31:39 PM EDT

Funny -NT - (bepatient) - (1) - May 8, 2002, 12:04:12 AM EDT

This thread is eternal, immortal and knows where you live. -NT - (pwhysall) - Oct. 30, 2002, 02:15:45 PM EST

Re: The country is Uzbekistan. - (Arkadiy) - (2) - May 7, 2002, 10:35:47 AM EDT

Perhaps, tovarish, only because you know them better. -NT - (mmoffitt) - (1) - May 7, 2002, 11:10:29 AM EDT

Da. -NT - (Brandioch) - May 7, 2002, 11:30:13 AM EDT

Ex-Prez Carter: US aid to Israel ~ $10/million / day! -NT - (a6l6e6x) - (1) - May 6, 2002, 11:29:17 PM EDT

How much a day is a surrogate 'US Presence' worth? - (Ashton) - May 7, 2002, 03:18:53 AM EDT

you forgot our good friends, Turkey secular muslim nation -NT - (boxley) - (7) - May 7, 2002, 12:19:04 PM EDT

With lots of support for us too. The Mid-East is NOT populat - (Brandioch) - (6) - May 7, 2002, 02:44:42 PM EDT

Well the issue of how the current situation got started - (boxley) - (5) - May 7, 2002, 04:27:41 PM EDT

Do you mean to say that, - (Ashton) - (4) - May 7, 2002, 04:46:22 PM EDT

no, what comes around goes around - (boxley) - (3) - May 7, 2002, 04:54:04 PM EDT

Thou sayest. I agree(est). Sad, ain't it..*every time* too. -NT - (Ashton) - May 7, 2002, 05:39:48 PM EDT

Yup. - (Brandioch) - (1) - May 7, 2002, 08:55:49 PM EDT

Yabut.. ________Can That be Good for Bizness ?? - (Ashton) - May 7, 2002, 09:56:25 PM EDT

Mica is a strategic mineral. - (Another Scott) - (3) - May 6, 2002, 10:04:06 PM EDT

We also have "strategic" helium reserves. - (Brandioch) - (2) - May 5, 2002, 12:33:52 PM EDT

You keep forgetting... - (bepatient) - (1) - May 5, 2002, 01:36:04 PM EDT

You keep claiming that. - (Brandioch) - May 5, 2002, 02:52:31 PM EDT

Ridiculous (got it right this time) - (bepatient) - (4) - April 30, 2002, 07:07:30 PM EDT

Put down your crack pipe. - (mmoffitt) - (3) - May 1, 2002, 01:46:31 PM EDT

On demand air charter. - (bepatient) - (2) - May 1, 2002, 06:12:29 PM EDT

In support - (Mike) - May 2, 2002, 12:02:59 PM EDT

Spin, Spin, Spin. - (mmoffitt) - May 2, 2002, 03:54:15 PM EDT

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