1973 Oil crisis
 Gas Shortage Sign in Connecticut During Energy Crisis | |
| Perpetrators | Bilderberg/1973 |
|---|---|
| Description | A huge rise in the price of oil, quite probably instituted by the actions of the Bilderberg group. |
The Oil crisis (or Oil shock) was a sudden increase in the price of crude oil. The most significant such event was in 1973.[1]
Official narrative
A 2011 Guardian rendering of the official narrative states that "The decision to boycott America and punish the west in response to support for Israel in the Yom Kippur war against Egypt led the price of crude to rise from $3 per barrel to $12 by 1974." As of 2016, there is still no admission that the oil 'crisis' was in fact no shock to the oil CEOs who discussed the idea a few months before it happened.[1]
A fact-based, alternative explanation
The fact that the 1973 Bilderberg (in May) was attended by many CEOs of the major oil companies and that documents reveal they were discussing how to handle an oil price rise of 400% seems like a rather extraordinary coincidence.[1]
Sheikh Yamani has stated that he "is 100% sure that the Americans were behind the increase in the price of oil" back in 1973 and 1974. He adds that "they had borrowed a lot of money and they needed a high oil price to save them."[2] If his suspicions are correct then the Yom Kippur war of October 1973 was an instrument to create a credible alternative reason for higher oil prices, one that would disguise the financial motives of the oil executives. Bichler, Rowley and Nitzan [3] come to this conclusion, stating that "Middle Eastern wars were the instrument of oil crises" (rather than their cause) and see petrodollar profits as power-grab of what was later termed "a supranational deep state" (Peter Dale Scott) or "the cabal" (Mark Gorton).
Impacts
The high energy prices were clearly good for oil companies, especially those who had advance warning of the event and made suitable plans. They facilitated the deconstruction of the UK's manufacturing base, but sped up development of the North Sea oil industry, allowing the UK to eventually become a net exporter.[1]
References
- ↑ a b c d https://www.theguardian.com/environment/2011/mar/03/1970s-oil-price-shock
- ↑ http://www.deepblacklies.co.uk/bilderberg_blurb.htm
- ↑ Bichler, Shimshon and Nitzan, Jonathan and Rowley, Robin. (1989) The Armadollar-Petrodollar Coalition - Demise or new Order? Working Papers (Part 4). Department of Economics. McGill University. Montreal. Vol. 89. No. 11. pp. 1-63. http://bnarchives.yorku.ca/135/01/890101RBN_ADPD_Coalition_Demise_or_New_Order.pdf
