this post was submitted on 05 Sep 2024
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Israel was critical for disempowering OPEC in the Yom Kippur War. We would not have gotten where we are today, with OPEC firmly under control, without Israel's critical role in the conflict.
Except OPEC still had significant power and influence in the US well after the Yom Kippur war ended in 1973, and said war didnโt even involve the majority of the OPEC member countries.
Israel isn't the only reason OPEC has been brought to heel, but it was the last time OPEC ever used an oil embargo afaik
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