Posted by Professor Know-it-all on July 15, 2005 at 21:49 [67.168.252.94]
In Reply to: Re: Global warming does not exist posted by Jules on July 15, 2005 at 19:50
They first formed a cartel (OPEC) in '74, and tried to squeeze the US & W. Europe into paying more by virtually cutting off the supply. They couldn't hold it together though and countries broke off and sold for lower prices.
Then in '79 with the Iranian revolution and start of the Iran-Iraq war supplies from thsoe 2 coutries got cut off and it was dangerous for countries around them (like Kuwait) to ship through the Persian Gulf, so prices went way up again.
Anyone remember the Asian Recession in 97-98, when gas was $0.99 a gallon in the US? Aaahhh. . . those were the days!
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