Which was the organization to oppose the Arab oil embargo of the 1970's?

Question: Which was the organization to oppose the Arab oil embargo of the 1970's!?
Best Answer - Chosen by Asker:

Organization!? I think it was countries who opposed the embargo not organizations!.

In October, 1973, panic gripped the United States!. The crude oil-rich Middle-Eastern countries had cut off exports of petroleum to Western nations as punishment for their involvement in recent Arab-Israeli conflicts!. Although the oil embargo would not ordinarily have made a tremendous impact on the US, panicking investors and oil companies caused a gigantic surge in oil prices!. The situation, caused more by fear and irrationality than any firm economic basis, turned out to be one of the most memorable of the 1970s!. Those who can remember the so-called "Mideast oil crisis" also remember long lines at the gas pump due to petroleum shortages and high gasoline prices!.

To understand the oil crisis that gripped the world during the 1970s, we need to know a little of the history of Middle Eastern history and politics!.

After World War II, the Allied powers created a Zionist state known as Israel to serve as a homeland for the millions of disfranchised (property-less) Jews throughout the world!. Israel was proclaimed an independent nation by its people on May 14, 1948!. The land for the new country was carved out of the British-controlled territory known as "Palestine!." Although the Jews agreed to the settlement, the local Arabs refused to acknowledge the Israeli state and launched frequent attacks along its borders throughout the year 1949!. The attacks eventually escalated into a full-scale conflict known as the "Suez-Sinai War!."

The British and the French joined in on the side of the Israelis, presumably to punish Egyptian president Gomar Nasser for claiming control of the Suez canal, a manmade waterway connecting the Mediterranean and Red Seas!. Only by decisive action on the part of the United Nations was the conflict resolved!. During the fighting, Israeli forces managed to capture the Sinai Peninsula and the Gaza strip, but relinquished the territories at the urgings of the United States and other United Nations members!.!.!.!.!.!.

http://library!.thinkquest!.org/20331/hist!.!.!.

What was the 1970's oil crisis!?

On October 5, 1973, the Yom Kippur War began following an attack by Syria and Egypt on Israel!. When western countries like the United States showed support for Israel, Arab oil exporting nations placed embargos on these nations!. The Arab nations cut production by 5 million barrels a day and despite other nations increasing their production, a net loss of 4 million barrels a day occurred throughout March of 1974!. In response to this decreased supply, OPEC raised crude oil prices from their 1972 level of $3 a barrel to $12 a barrel in 1974!. Oil prices remained at the $12-13 level until the Iranian revolution between November 1978 and June 1979, which resulted in the loss of 2-2!.5 million barrels of oil a day!. When Iraq invaded Iran in September 1980, both countries had a combined output of 1 million barrels a day and these huge production losses doubled oil prices from $14 in 1978 to $35 a barrel in 1981!.

The reason for these huge price increases was due not only to reduced supply, but to United States energy policies that placed price controls on domestically produced oil!.!.!.!.!.!.
http://earthguide!.ucsd!.edu/fuels/1970!.ht!.!.!.
http://www!.ccds!.charlotte!.nc!.us/History/!.!.!.Www@QuestionHome@Com