The 1973 oil embargo by OPEC inspired advances in alternative energy technology

OPEC’s 1973 embargo sparked the first global energy shock

In October 1973, Arab OAPEC countries stopped or significantly reduced oil exports to nations backing Israel during the Yom Kippur War. Crude prices nearly quadrupled, sparking global shortages, economic recession, rationing, and major energy policy reforms.

Oil shocks, war, and the 1970s crisis that remade American energy and economics

The oil crises of the 1970s—fueled by Middle East conflict and OPEC’s dominance—triggered inflation, price controls, and policy failure. But they also accelerated fracking, alternative energy, and the rise of free-market economics.

1970s U.S. energy crisis sparked waves of green innovation

Faced with the 1973 Arab oil embargo, the U.S. responded with bold innovation—enacting a 55 mph speed limit, pioneering daylight saving time, boosting solar research, expanding nuclear power, and pushing energy-efficient building designs and automotive technologies

The 1967 war was the first use of oil as a geopolitical weapon

Following the June 1967 Arab–Israeli war, Saudi Arabia, Kuwait, Iraq, Libya, and Algeria embargoed oil shipments to the US, UK, and West Germany. While the move did not have a large impact, it reshaped global oil flows, and foreshadowed OAPEC's later actions.

Iran’s 1979 revolution sparked a second oil shock—and reconfigured global energy markets

Widespread strikes in Iran’s oil sector during the 1978-79 revolution slashed production and triggered panic buying, flooding oil markets with fear.

OPEC can roll out production cuts among its members to control oil’s global supply and price

The Organization of the Petroleum Exporting Countries (OPEC) was created to coordinate and unify petroleum policies to secure fair and stable prices. During the pandemic, for instance, the organization pushed through production cuts in an attempt to stabilize prices.

Oil prices have been volatile for decades

This explainer shows oil’s rollercoaster: OPEC-led embargoes in the 1970s, shale surges in the 2000s, and the US flip to becoming a net oil exporter in 2020.

Lessons from the 1973 energy crisis still echo in today’s geopolitical battles over oil

The video from the Economist highlights how energy supply disruptions can be weaponized—just as in 1973, today’s gas cutoffs (Russia throttling supplies to Europe after their invasion of Ukraine) reveal the ongoing importance of strategic energy resilience.

OPEC often intervenes to influence the price of oil

This guide explains how investing in oil works with in-depth explanations of each of the forces that control oil’s price. Oil is unique as a commodity in part because of OPEC’s role in regulating its price.

Oil’s legacy: fueling industrial growth and shaping imperial strategies

This episode of The Rest Is History podcast traces oil’s pivotal role—from fueling industrial growth to steering imperial power. It also examines how access to oil shaped US politics, World War II, and sparked the creation of OPEC following the Suez Crisis.

Oil markets are seeing higher costs and lower prices amid tech breakthroughs

Experts say oil demand has not yet reached its peak. Recent technological breakthroughs in the oil industry include advances in drilling and extraction, as well as subsurface technologies.

OPEC has grown from five to 12 members since 1960

OPEC’s official members page features profiles for all 12 current member countries—Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, UAE, and Venezuela—detailing their joining history, national data, and links to individual country pages.

The number of annual oil spills has dropped dramatically since the 1970s

Oil spills from oil tankers—which can have a sharp, short-term impact on oil prices—have become increasingly rare over the decades in part because of stricter regulations.

The Seven Sisters were a dominant midcentury Western oil consortium

Amid the fallout of World War II, Western multinational corporations expanded their control of the production of oil across the oil-rich Middle East, earning the pejorative nickname of the Seven Sisters. In the 1970s, the group’s role diminished as nationalist movements pursued sovereign control of the oil.

Large oil companies knew about the impact of carbon emissions since the ’70s

PBS Frontline’s The Power of Big Oil reveals how industry giants like Exxon and Shell were researching climate change in the 1970s but then funded denial campaigns—using internal science to sow public doubt for decades.

The 1979 Iranian Revolution inspired other Islamist movements and alarmed Sunni governments

By establishing the world's first modern Islamic theocracy, the revolution inspired Islamist movements across the region and alarmed Sunni Arab governments. The resulting rivalry between Shia Iran and Sunni Saudi Arabia has since fueled proxy conflicts in Lebanon, Iraq, Syria, and Yemen that persist today.

Could water scarcity cause future wars in the Middle East?

The MENA region is facing a looming water crisis that could lead to future conflicts. While water scarcity isn't new in the Middle East, the region is among the most water scarce in the world. Home to only 1% of the world's fresh water...

The recorded history of crude oil use, starting with Babylonians waterproofing boats

The ancient civilization located in modern-day Iraq also used crude oil as mortar in construction, while the Egyptians used it to treat human remains during the mummification process. After the invention of the first motorcar in 1885 and the introduction of the affordable Model T in 1908, demand for crude oil skyrocketed.

How crude oil is split across oil markets based on geographic origin

Brent, West Texas Intermediate, and Dubai are the three crude oil classes and differ in terms of typical refinery uses, density, sulfur content, and suitability for financial benchmarking. Brent, which originates in the North Sea, is traders' go-to benchmark, in part, because it is easily shipped and politically stable, and used to price most of the crude sold internationally.

As of 2024, the nation with the largest proven oil reserves is Venezuela

According to estimates derived from available geological and engineering data, the South American country possesses about 303 billion barrels of underground crude oil, followed by Saudi Arabia (267.2 billion) and Iran (208.6 billion). Many of the largest reserves are held by members of the Organization of the Petroleum Exporting Countries.

The 1969 Santa Barbara oil spill galvanized the modern environmental movement

In January 1969, an oil platform off the coast of Santa Barbara ruptured, releasing roughly 3 million gallons of crude into the Pacific. The spill killed over 10,000 seabirds, dolphins, and seals, coating 35 miles of coastline.

Embargoes and economic mismanagement have pushed Cuba into its worst crisis in decades

For more than 60 years, Cuba has been pressured by two forces—the US economic embargo and its own government's repression and mismanagement. NPR's Throughline podcast explains how both contributed to today's blackouts, food shortages, and mass exodus.

High fuel prices and fuel shortages revived dormant interest in EVs

Electric vehicles, in the form of motorized carriages, predate the invention of the gas-powered automobile by over 40 years. The latter's affordability made it more popular until technological advances made EVs more viable to consumers in the early 2000s.

All clean energy technologies rely heavily on critical minerals

Although many of these minerals have been used for decades, such as copper in electrical wiring, the accelerating demand for them has strained existing extraction and processing systems. Supply chain disruptions for these materials may delay and increase the cost of transitioning to solar, wind, hydroelectric, and geothermal power.

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

Sovereign wealth funds in the Middle East and Asia surged after the 2008 financial crisis

As the stock market plummeted in 2008, SWFs with cash on hand were able to snap up critically undervalued assets that eventually posted large profits. The Government of Singapore Investment Corp. and Abu Dhabi Investment Authority invested $14.4B in Citigroup, resulting in a $1.6B profit for the GSIC when it sold half of the holdings in 2009.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

Watch contemporary footage covering the US-backed Shah of Iran fleeing the country in the face of the 1979 Iranian Revolution

Iran's Revolutionary Guard Corps is independent of Iran's regular army and is one of the most powerful and influential military-political organizations in the Middle East.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

The history of many kitchen appliances involves unexpected discoveries and applications, including wartime radar turned hamster defroster and replacing an 'ice king' with heat-stealing boxes.

How fusion—which releases energy when two lighter atoms combine to form a heavier atom—differs from fission

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

Scientists testing how climate change affects plants found, in a years-long simulation study, that poison ivy grew 70% faster with the resulting extra carbon dioxide.

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

Volcanic activity may have triggered the Black Death by spewing gases that led to crop failures in Europe, thus forcing the import of grain ships with plague-infested fleas.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

Artificial coral reefs have been 3D printed from nontoxic, biodegradable terracotta clay, which coral polyps have used as a foundation for rebuilding marine ecosystems.

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

'Saturday Night Fever,' the 1977 film that introduced disco to the mainstream, was based on a fabricated magazine story.

See the evolution of Ebola vaccine and treatment development.

Sony set the standard for cylinder-shaped batteries when it repurposed manufacturing equipment used to make rolls of magnetic recording tape.

The hormonal disorder PCOS was renamed PMOS in 2026, a move designed to improve care and research by shifting the focus to the hormonal causes of this condition that affects 1 in 8 women.

American dance legend Martha Graham, sometimes called 'the Picasso of dance,' refused to perform at the 1936 Olympics in Berlin and conceived the piece 'Chronicle' in response to the experience.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

Explore the known asteroids, comets, and spacecraft involved in asteroid studies within our solar system with 'Eyes on Asteroids,' a 3D visualization from NASA.

American short story writer Flannery O'Connor raised 40 peacocks, which became potent symbols for her fiction's elegant violence

El Niño, Spanish for 'the boy,' was named after Jesus Christ because the phenomenon resembled the weather changes observed around Christmastime.