on Arab states Monday to use oil as a weapon against countries
supporting Israel. According to a story in the New York Times,
Iraq appears to be calling for action similar to a crippling
Arab oil embargo imposed in the 1970s against Western nations.
the world's largest oil producer, and other major producers
of the Organization of Petroleum Exporting Countries have made
clear they have no plans to repeat the embargo that severely
hit Western economies in the 70s, quadrupling oil prices. Without
the support of the Saudis and other major producers any attempted
repeat reportedly would have little impact.
statement was issued in response to recent Israeli military
action against Palestinians.