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Peter Van Doren on Energy Independence

The Great Antidote

CHAPTER

The Middle East Oil Embargo

Conventional wisdom is that the middle eastern nations wield an oil weapon. In support of this belief, many people point to the 73 oil embargo. The miserable, mile long lines outside us resulted from domestic price controls and allocation,. not from any embargo. We ought not to blame the arabs for what we did to ourselves. And so it was the embargo against the united states. Never happened and could not happen.

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