1973

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The First OPEC Oil Crisis

Contributed by Alex Shrugged

In reaction to the Six Day War with Israel, the Arab oil producing countries used oil as an economic tool to punish countries that supported Israel. It didn't work, but since that time the US dollar has been devalued twice. President Nixon has abandoned the last vestiges of the gold standard. The US dollar is now a free-floating fiat currency. Wage and price freezes have allowed food prices to rise while wages stay the same. Industry in the UK is forced to a three-day work week to conserve power during a coal strike. 1.6 million workers strike in protest of a crippled economy. They want food! (Soylet Green is people! Oh, wait. That's a movie. Never mind.) The London Stock Exchange loses 74% of its value. Then in October, the Yom Kippur War is fought and the Arabs lose big time. Once again, the Arab countries embargo their oil, but this time they are supported by OPEC which includes non-Arab countries. The price of oil quadruples. Shipping costs skyrocket. Consumers have no choice but to cut back on travel, cancel vacations, delay purchases. Some are forced to trade in their Ford Mustang for a Pinto! (Oh how the great have fallen.) I pull down my copy of Famine-1975! It's really going to happen. Isn't it? [1] [2] [3]

My Take by Alex Shrugged

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Contributed by Southpaw Ben

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My Take by Southpaw Ben

The Sexual Suicide of America

Contributed by Alex Shrugged

text [4] [5]

My Take by Alex Shrugged

Notable Births

  • Monica Lewinsky: White House intern and love interest of President Bill Clinton. (Note: Alex Shrugged has a tenuous connection with the Lewinsky family.) [6] [7]
  • -- Supermodels... Tyra Banks and Heidi Klum. [6]
  • -- In Comedy... Dave Chappelle, Seth MacFarlane (Family Guy), Seth Meyers (SNL), and Kristen Wiig (SNL). [6]
  • -- In TV... Tori Spelling (90210). [6]
  • -- In Sports... Terrell Owens. [6]

This Year in Film

  • The Sting: Con men seek revenge for the murder of their old friend. Ragtime music becomes popular again. [8]
  • The Exorcist: Linda Blair plays a girl possessed by the devil. The music "Tubular Bells" becomes popular. [8]
  • American Graffiti: Young people coming of age. These young actors are future big names: Harrison Ford, Richard Dryfus, Ron Howard and more. [8]
  • -- And the controversial..." Jesus Christ Superstar, Soylent Green and Westworld. [8]

This Year in TV

  • The Six Million Dollar Man: Bionic implants give a former astronaut superhuman strength. [9]
  • Kojak: Actor Telly Savalas becomes the icon for American shoot-em-up TV. [9]
  • Schoolhouse Rock!: A series of educational, animated shorts. (Effective.--alexshrugged) [9]

This Year in Music

  • Angie: The Rolling Stones. [10]
  • Tie a Yellow Ribbon 'round the Old Oak Tree: Tony Orlando & Dawn. [10]
  • Crocodile Rock: Elton John. [10]
  • The OPEC Oil Crisis is depressing record sales: Oil products are used to make plastic records. [10]

This Year in Video Games

  • Pong clones dominate: Jukebox and arcade game companies scramble to take advantage of the video game craze. [11]

In Other News

These are events under consideration.

  • The OPEC oil embargo triggers an energy crisis: . [12]
  • The Yom Kippur War begins: This is the 4th and largest Arab–Israeli conflict. [12]
  • Rowe vs Wade Abortion Ruling - The Supreme Court removes the power of states to prohibit abortions and sets standards for the viability of a fetus. America will learn what a fetus is, what a trimester is and forget what "viability" means. [13]
  • The US Dollar is Devalued - President Nixon devalues the dollar 10%. This is the second devaluation of the dollar. [14]
  • Federal Express Delivers - FedEx begins operations. The founder, Fred Smith, got a "C" on his original paper proposing an overnight delivery service by air. [15]


  • The Vietnam War and the War Powers Act - The Paris Peace Accords end the US involvement in the Vietnam War. Also the War Powers Act becomes law, limiting Presidents from getting involved in "Police Actions" like Vietnam....supposedly. [16] [17]
  • Nixon says "I am not a crook.": Only crooks feel compelled to say that. [12]
  • Nixon fires Special Prosecutor Archibald Cox: Calls for Nixon's impeachment ensues. It also sets up Robert Bork to be denied a place on the Supreme Court years later. [12]
  • G. Gordon Liddy Goes to Prison - The guy who will sell gold on TV as early as 2008 begins his prison sentence for his part in the Watergate wiretapping break-in. [18] [19]


  • It's LITE Beer - The Miller Brewing Company introduces Lite Beer... "Great Taste...Less Filling!" [20]


  • The Endangered Species Act is passed into law: . [12]
  • The Tran-Alaska Pipeline is approved: Carabou celebrate. [12]
  • The World Trade Center Opens - It will be attacked with a truck bomb in 1975 and then collapse when two hijacked airplanes will crash into the towers in 2001. [21]
  • Indian activists hold off federal authorities at Wounded Knee... again: .[12]


United Kingdom

  • Coal Shortages Force a 3-Day Work Week - A coal miner's strike forces the UK government to reduce the work week to 3 days in order to conserve commercial electricity usage from coal-burning power plants. Television stations are required to shutdown by 10:30 PM. [22]
  • 1.6 million UK workers stop working: They are protesting the Government's anti-inflation policy. [12]
  • The PIRA explode bombs in Whitehall and the Old Bailey: . [12]


Technology

  • Skylab becomes the 1st US Space Station: . [12]
  • Pioneer 10 sends back pictures of Jupiter: . [12]
  • Comet Kohoutek is discovered: . [12]
  • ATMs are Patented - The patent for the first Automatic Teller Machine (ATM) is granted. [23]
  • The First Cell Phone Call - Motorola's Martin Cooper makes the first cell phone call to his competitor, Joel Engle, at Bell Labs and says, "Joel... I'm calling you from a cell phone... a REAL cell phone!" The Dyanatech weighs two and a half pounds and has a battery life of 20 minutes. [24] [25][26]

This Year in Wikipedia

Year 1973, Wikipedia.

See Also

References

  1. The Economy: A Gilt-Edged Year for the Stock Market - TIME (January 8, 1973). Retrieved on 30 March 2017. “THE first definitive year-end report card on the economy—the stock market average on the final day of trading —was cause for solid optimism on the part of investors. Last week the Dow Jones Industrial Average closed at 1020 —up 130 points for the year, a remarkable gain of 15%.”
  2. "PRICE QUADRUPLES FOR IRAN CRUDE OIL - The New York Times", December 12, 1973. Retrieved on 30 March 2017. “You buy our crude oil and sell it hack to us, refined as petrochemicals, at a hundred times the price you've paid us. You make us pay more, scandalously more, for everything, and it's only fair that, from now on, you should pay more for oil. Let's say...10 times more” 
  3. 1973 oil crisis - Wikipedia, 2014 [last update]
  4. George Gilder - Wikipedia, 2014 [last update]
  5. Geneshaft - Wikipedia, 2014 [last update]
  6. 6.0 6.1 6.2 6.3 6.4 1973 Births - Wikipedia.
  7. Monica Lewinsky - Wikipedia.
  8. 8.0 8.1 8.2 8.3 1973 in film - Wikipedia (1973). Retrieved on 27 January 2017.
  9. 9.0 9.1 9.2 1973 in television - Wikipedia (2017).
  10. 10.0 10.1 10.2 10.3 1973 in music - Wikipedia (2017). Retrieved on 30 January 2017.
  11. 1973 in music - Wikipedia (1973).
  12. 12.00 12.01 12.02 12.03 12.04 12.05 12.06 12.07 12.08 12.09 12.10 12.11 12.12 1973 - Wikipedia.
  13. Roe v. Wade - Wikipedia, 2014 [last update]
  14. Dollar Devalued 10 Per Cent; Japan Decides to Float Yen. The Harvard Crimson. 1973-Feb-13. quote: "The United States last night devalued the dollar by 10 per cent in an effort to solve the international monetary crisis. It was the second dollar devaluation in little over a year."
  15. FedEx Express - Wikipedia, 2014 [last update]
  16. Paris Peace Accords - Wikipedia, 2014 [last update]
  17. War Powers Resolution - Wikipedia, 2014 [last update]
  18. G. Gordon Liddy - Wikipedia, 2014 [last update]
  19. Vida's First Commercial (with G. Gordon Liddy), YouTube.com, Uploaded: 2008-Sep-24. (VIDEO)
  20. Miller Lite - Wikipedia, 2014 [last update]
  21. World Trade Center - Wikipedia, 2014 [last update]
  22. Three-Day Week - Wikipedia, 2014 [last update]
  23. Donald Wetzel - Wikipedia, 2014 [last update]
  24. Laporte, Leo. (interviewer) Triangulation 143: Marty Cooper. YouTube.com. 2014-Mar-17. Time mark: 7 minutes 30 seconds into the interview. (VIDEO)
  25. Martin Cooper (inventor) - Wikipedia, 2014 [last update]
  26. Joel S. Engel - Wikipedia, 2014 [last update]

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