Part One of The Current
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.
Other segments from today's show: