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Running on Empty (with Claudius)

The Good Ol Boyz Podcast

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The Oil Crisis in America

In 1971, OPEC issued a joint communique stating that from then on, they would price oil in terms of a fixed amount of gold. This is exactly what we're seeing Russia do today, right? And you withhold the oil. The difference is Egypt was not trying to flex with it as a concern to cut people off. That's just like, I'm not aware of anything that parallels the OPEC kind of trying to turn this spigot off, sort of thing. But the potential is there.

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