Abstract
The 1973/74 oil crisis, comprising an Arab oil embargo targeting Western industrialized states and the quadrupling of global oil prices by OPEC, was followed by a major international debate on the establishment of a New International Economic Order in the years to come. This debate not only made it to the top of the international agenda given certain emotional reactions to and perceptions of the first oil crisis in different groups of countries: The successful oil revolution, as it was called by Arab elites, nurtured a sense of empowerment among OPEC representatives while it triggered fears among Western governments, making them more willing to listen to OPEC demands. At the same time, both oil and non-oil developing countries professed a strong feeling of solidarity allowing them to formulate a shared program of economic decolonization. It was exactly these emotional reactions to the oil crisis that enabled the conflict over the New International Economic Order to become such a prominent feature of the decade. Thus, the oil revolution was a game changer without which the North-South debate would have remained on the sidelines.
Funding source: The Gerda Henkel Foundation
Funding source: The German Historical Institute London
Funding source: The Fritz Thyssen Foundation
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Research funding: The research for this project was funded by the Gerda Henkel Foundation, the German Historical Institute London, and the Fritz Thyssen Foundation.
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© 2023 Walter de Gruyter GmbH, Berlin/Boston
Artikel in diesem Heft
- Frontmatter
- Editors’ Forum
- Introduction: The Global 1970s from a History of Emotions Perspective
- Coming Out Collectively: The Emotions of Latin-American Homosexual Liberation Movements
- The End of Irony. Emotions and Criticism of Capitalism in the United States in the Global 1970s
- “An Emotional Leap”: Australia’s and New Zealand’s Search for a Post-imperial Belonging
- Between Panic and Feelings of Empowerment: Emotional Reactions to the First Oil Crisis and the Debate About a New International Economic Order
- Emotional Audiences? From Dispassion to Anger in Elite Palestinian Political Discourse, 1930s–1970s
- Review Essay
- Review of Jonathan Alter. His Very Best: Jimmy Carter, a Life; Kai Bird. The Outlier: The Unfinished Presidency of Jimmy Carter; Stuart E. Eizenstat. President Carter: The White House Years; Rick Perlstein. Reaganland: America’s Right Turn
- Book Reviews
- Jeffrey E. Garten: Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy
- Hartmut Elsenhans: Capitalism, Development, and the Empowerment of Labour: A Heterodox Political Economy
- Emanuel Deutschmann: Mapping the Transnational World: How We Move and Communicate Across Borders, and Why It Matters
Artikel in diesem Heft
- Frontmatter
- Editors’ Forum
- Introduction: The Global 1970s from a History of Emotions Perspective
- Coming Out Collectively: The Emotions of Latin-American Homosexual Liberation Movements
- The End of Irony. Emotions and Criticism of Capitalism in the United States in the Global 1970s
- “An Emotional Leap”: Australia’s and New Zealand’s Search for a Post-imperial Belonging
- Between Panic and Feelings of Empowerment: Emotional Reactions to the First Oil Crisis and the Debate About a New International Economic Order
- Emotional Audiences? From Dispassion to Anger in Elite Palestinian Political Discourse, 1930s–1970s
- Review Essay
- Review of Jonathan Alter. His Very Best: Jimmy Carter, a Life; Kai Bird. The Outlier: The Unfinished Presidency of Jimmy Carter; Stuart E. Eizenstat. President Carter: The White House Years; Rick Perlstein. Reaganland: America’s Right Turn
- Book Reviews
- Jeffrey E. Garten: Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy
- Hartmut Elsenhans: Capitalism, Development, and the Empowerment of Labour: A Heterodox Political Economy
- Emanuel Deutschmann: Mapping the Transnational World: How We Move and Communicate Across Borders, and Why It Matters