Thursday, October 17, 2013

October 17, 1973: The OPEC Oil Shock

October 17, 1973: The Organization of Petroleum Exporting Countries (OPEC) proclaims an oil embargo at its meeting in Vienna, Austria. It is targeted at nations perceived as supporting Israel during the Yom Kippur War, which was ongoing at this point. (OPEC's headquarters has been in Vienna since 1965, even though Austria is not a member.)

The OPEC member nations are the Middle East nations of Saudi Arabia, Iraq, Iraq, Kuwait, Qatar and Libya; the East Asian nation of Indonesia; and the South American nation of Venezuela. For those of you old enough to remember the 1990s, it may seem shocking to see Iraq and Kuwait working together. For those of you, like me, old enough to remember the 1980s (if not quite 1973), it may seem shocking to see Iraq and Iran working together. But it would take until 1979 for the Islamic Revolution to take over in Iran, and the same year for Saddam Hussein to do so in Iraq.

The targeted nations are America, Britain, Canada, Japan and the Netherlands. It is later extended to Portugal, and the apartheid nations of South Africa and Rhodesia.

In America, this drives the price of gasoline way up, and they had already gone up a lot this year, as a general inflation jacked up the prices of everything. It didn't help that President Richard Nixon was paying more attention to defending himself in the Watergate scandal than to the economy. Three days later came his firing of Special Prosecutor Archibald Cox, and of 2 aides who refused to help him do it, an event known as "the Saturday Night Massacre."

The embargo ended in March 1974, with the price of oil per barrel having gone up from $3 to almost $12. This had such an effect on the American economy that, when Time magazine named its Man of the Year for 1974, 9 months after the end of the embargo and 4 months after Nixon was forced to resign the Presidency, it didn't name Nixon; or his replacement, Gerald Ford; or any of his opponents, such as the new Special Prosecutor Leon Jaworski, or House Judiciary Committee Chairman Peter Rodino, or, collectively, the U.S. Supreme Court. It named King Faisal of Saudi Arabia.

One of the ways America dealt with the gas shortage was to institute the 55-mile-per-hour speed limit. Another was to ration gas: If your license plate ended with an odd number, you could buy gas on an odd-numbered day; if it ended with an even number, you could buy it on an even-numbered day. This policy would be adopted again in 1979, the next time an oil embargo was launched.

But there was another way America dealt with the oil embargo, which had nothing to do with cars: An additional reliance on nuclear energy. In 1979, a near-disaster at Three Mile Island in Pennsylvania showed why that idea was so dumb.

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October 17, 1973 was a Wednesday. On the same day, Motorola engineer Marty Cooper was granted the patent for the handheld mobile telephone.

It was midweek for the NFL and college football. But Game 4 of the World Series was played at Shea Stadium. The New York Mets evened the Series at 2 games apiece with a 6-1 win over the Oakland Athletics at Shea Stadium. In support of Met starting pitcher Jon Matlack, Rusty Staub went 4-for-4 with a homer and 5 RBI. The New Orleans chef was really cooking that night.

A's manager Dick Williams was tired of team owner Charlie Finley's meddling, and told his players that, win or lose, he would resign when the Series was over. In the 8th inning, as a pinch-hitter, he sent Mike Andrews, the 2nd baseman whose 2 errors in the 12th inning of Game 2 at the Oakland Coliseum gave the Mets a win, and whom Finley had unsuccessfully tried to have removed from the World Series roster. The Met fans, showing an intelligence for which I tend credit them, gave him a standing ovation. He grounded out. It turned out to be his last major league at-bat.

There were 2 NBA games played that day. The Milwaukee Bucks beat the Golden State Warriors, 109-95 at the Milwaukee Exposition and Convention Center Arena (MECCA). And the Kansas City-Omaha Kings beat the Seattle SuperSonics, 108-106 at the Seattle Center Coliseum.

There were 3 ABA games played: The Kentucky Colonels beat the Virginia Squires, 116-106 at Freedom Hall in Louisville. The Carolina Cougars beat the Memphis Tams, 108-95 at the Mid-South Coliseum in Memphis. And the Denver Rockets beat the Utah Stars, 112-97 at the Auditorium Arena in Denver. The Rockets would become the Denver Nuggets at the start of the 1974-75 season.

There were 6 NHL games played. The New York Rangers beat the St. Louis Blues, 4-0 at Madison Square Garden. Eddie Giacomin had the shutout, and was backed by goals from Bruce MacGregor, Steve Vickers, Rod Gilbert and Jim Neilson.

The Toronto Maple Leafs beat the Montreal Canadiens, 5-3 at Maple Leaf Gardens in Toronto. The Atlanta Flames beat the Boston Bruins, 4-3 at The Omni in Atlanta. The Chicago Black Hawks beat the Vancouver Canucks, 5-0 at the Chicago Stadium. The Pittsburgh Penguins beat the Minnesota North Stars, 4-2 at the Metropolitan Sports Center in the Minneapolis suburb of Bloomington, Minnesota. And the Philadelphia Flyers beat the California Golden Seals, 5-1 at the Oakland Coliseum Arena. Finley owned them, too, and they went out of business, but not before playing the 1976-77 and 1977-78 seasons as the Cleveland Barons.

There were 2 games in the World Hockey Association. The Winnipeg Jets beat the New England Whalers, 3-1 at the Boston Garden. And the Houston Aeros, with 44-year-old Gordie Howe leading a line with his sons Mark and Marty, beat the Vancouver Blazers, 7-2 at the Pacific Coliseum in Vancouver.

There was one more sporting event on this day that I should mention: The England national soccer team can only manage a 1-1 draw against Poland in a European qualifying match for the 1974 World Cup at the old Wembley Stadium in London. It means that England won't even qualify for the World Cup, and manager Sir Alf Ramsey, who guided them to the 1966 World Cup, is soon fired. Poland will go on to reach the Semifinals, their best performance ever. (They would match that in 1982, but have yet to surpass it.)

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