ABSTRACT
By the late sixties and early seventies, scholars and oil experts in the United States were divided into two schools of thought about the possibility of an Arab oil embargo and its potential to cause an oil shortage. Ironically, it was Israeli military operations that caused the first cutback in Arab oil production. Mixing Arab politics with oil economics caused the United States serious concern over access to oil, the stability of oil prices, and the security of oil sources. An agreement reached between the United States and Saudi Arabia in early April 1974 to strengthen economic, technological, and military cooperation underlined these concerns and the change in priorities. The Arab oil embargo was one of the important elements influencing US policy formulation and implementation. Domestically, the Arab oil embargo evoked strong negative reaction in the United States. Throughout the embargo, the Soviet media endorsed the oil weapon and reported all Arab oil actions and decisions.
