The U.S. still walks a tightrope with events that began at this precise time four decades ago, when infuriated Saudis along with other Arab leaders essentially turned off the spigots with a devastating Oil Embargo. The year was 1973, half the lights on the Golden Gate Bridge went out. The Washington Monuments went to black. And gas station lineups snaked around corners. Today, our project Game Changer looks at the decision that affects Canadian energy policy and U.S. politics to this day.

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Part One of The Current

Satire

It's Monday October 17th.

U.S. President Barack Obama is sending combat troops to Uganda to help hunt down the leaders of the notorious Lord's Resistance Army.

Currently, on discovering how trigger-happy Washington is, Stephen Harper is scaling back the 1812 commemorations.

This is the Current.

1973 Oil Embargo - Andrew Scott Cooper

We started this segment with a clip of Lloyd Robertson anchoring the CBC's National exactly 38 years ago today reporting on what was about to become a game changing development in geopolitics.

The Arab oil embargo had startling new economic, political and military implications. It would have a lasting impact on the relationships between the West and the Middle East. And many countries would also look inward to ask serious questions about energy use. Terms like conservation, energy efficiency, and reliable supplies took on powerful new meanings after 1973.

To discuss the repercussions and take us back to those dramatic days, we were joined by Andrew Scott Cooper. He is the author of the new book The Oil Kings: How the US, Iran, and Saudi Arabia Changed the Balance of Power in the Middle East. He was in Wellington, New Zealand.

1973 Oil Embargo - Maurice Strong

Not surprisingly, oil turned out to be a slippery weapon. The industrial countries were suddenly aware of Arab determination. But when oil prices quadrupled, already sluggish economies slowed to a crawl. Resentment rose when some governments imposed rationing.

In this country, Petro Canada was established, created by Ottawa, a crown corporation to enable Canada to take advantage of higher oil prices. The first man to head the new company was Maurice Strong. He joined us from Beijing, China.

Related Links:

• The Oil Wars by Andrew Scott Cooper - The Daily Beast
• The History of Petro-Canada

Other segments from today's show:

• Whither Zoos
• Death Penalty: Dick Gregory