Energy Crisis, 1969-1974The Foreign Relations of the United States series presents the official documentary historical record of major foreign policy decisions and significant diplomatic activity of the United States Government.
This volume is part of a subseries of the Foreign Relations of the United States that documents the most significant foreign policy issues and major decisions of the administrations of Richard M. Nixon and Gerald R. Ford. This volume documents U.S. policy toward the global energy crisis beginning in 1969 and ending with Nixon's departure from office in August 1974. It will be followed by volume XXXVII, which covers the energy crisis during the administrations of Presidents Gerald R. Ford and Jimmy Carter, from 1974 until 1980.
This volume documents the U.S. response to the changes that took place between and among the oil producing nations, the consuming nations, and the oil companies. From 1969 to 1974 the established practices of the international oil industry, based on contractual obligations between producing nations and corporate entities that established production amounts and a pricing structure for oil, disappeared. The consequences were global in nature, stretching from budgetary windfalls for the producing states, to equally significant windfall profits for the corporations, to a shift in the global monetary balance of power, and finally to budgetary drains on all consuming nations. As a consequence of this power shift, the oil-producing Arab nations were able to impose an embargo on the United States in the wake of the 1973 Arab-Israeli war as a punishment for its support of Israel and as leverage in the post-war peace negotiations. While the volume's spotlight is on U.S. policymaking, a secondary focus is on events and policy repercussions in major energy consuming and producing states such as Canada, Venzuela, Great Britain, France, Germany, Japan, Iran, Saudi Arabia, and Kuwait.
Within this broad framework, the volume covers a range of topics and themes, the foremost of which is the U.S. effort to negotiate an end to the 1973 embargo. Additionally, there is in-depth coverage of the administration's attempt to reformulate its oil import program in 1969, negotiations between international oil companies and oil producing states, efforts to create bureaucratic institutions to deal with energy issues, and attempts to prepare U.S. consumers to adjust to the long-term consequences of tighter oil market and higher priced oil.
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... January 1969 until February 1970 ; Chairman , Federal Reserve Board from February 1970 until January 1978 Bush , George H.W. , Republican Representative from Texas until 1971 ; U.S. Representa- tive to the United Nations from 1971 until ...
... January 1972 ; Pres- ident's Assistant for International Economic Affairs from January 1972 until 1974 ; Executive Director of the Council on International Economic Policy from February 1972 until 1974 Folmar , Lawrence W. , Vice ...
... January 1973 ; Assistant to the President and White House Chief of Staff from August 1973 until August 1974 Haldeman , H.R. , Assistant to the President and White House Chief of Staff from Janu- ary 1969 until April 1973 Hale , William ...
... January 1969 until February 1971 Kennedy , Edward M. , Democratic Senator from Massachusetts Kennedy , John F. , President of the United States from 1961 until 1963 Kennedy , Richard T. , Colonel , USA ; member , National Security ...
... January 1974 ; U.S. Ambassador at Large from January 1974 McCloy , John J. , Attorney , Millbank and Tweed McCormack , John W. , Democratic Representative from Massachusetts McCracken , Paul W. , Chairman , Council of Economic Advisers ...