Friday, May 20, 2011

chapter 29 outline

Here's a bare-bones chapter 29 outline:

The US oil import system was a loop-hole filled mess as the demand for imported oil continued to climb. Nixon finally abolished the quota system.

The radicals in OPEC began to push for the end of the Tehran agreement, wanting to send prices higher.

Anwar Sadat decided to go to war with Israel.

Once the US reached 100% production, it had lost just about all meaningful leverage for oil prices. Faisal initially did not want to go along with an embargo to raise prices, but finally caved in.

Sadat got support from Faisal for the invasion of Israel.

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