| In 1973 the Shah intended to free Iran from unfair oil contracts that was supposed to end in 1979. That did not happen. Except, the brits and Jimmy Carter gave Iran a terrorist mullah called Khomeini & his ideology who not only killed Iranians but indirectly was responsible in murdering many Westerners. January 1973—The 1973--1974 stock market crash begins, as a result of inflation pressure, the Nixon Shock and the collapsing monetary system. August 23, 1973—In preparation for the Yom Kippur War, Saudi King Faisal and Egyptian president Anwar Sadat meet in Riyadh and secretly negotiate an accord whereby the Arabs will use the "oil weapon" as part of the upcoming military conflict.[13] October 6 - Egypt and Syria attack Israeli occupied lands in Sinai and Golan Heights on Yom Kippur, starting the fourth Arab-Israeli War. October 8--October 10—OPEC negotiations with major oil companies to revise the 1971 Tehran price agreement fail. October 12— The United States initiates Operation Nickel Grass, an overt strategic airlift operation to provide replacement weapons and supplies to Israel during the Yom Kippur War. This followed similar Soviet moves to supply the Arab side. October 16 - Saudi Arabia, Iran, Iraq, Abu Dhabi, Kuwait, and Qatar unilaterally raise posted prices by 17% to $3.65 per barrel and announce production cuts.[14] October 17—OPEC oil ministers agree to use oil as a weapon to influence the West's support of Israel in the Yom Kippur war. They recommend an ... |
