OPEC at 40


'It was the end of innocence'

12:01 am U.S. ET | Oct. 14, 2013
When Keith Crain landed in Detroit in 1971 to take the reins of Automotive News, he discovered a U.S. auto industry that was in full glory. It was a golden age, but it was about to end. The Arab oil embargo that started on Oct.


10 ways the 1973 oil embargo changed the industry

12:01 am U.S. ET | Oct. 14, 2013
Oct. 17 is the 40th anniversary of the first Arab oil embargo, which launched the Organization of Petroleum Exporting Countries and fundamentally changed the auto industry. Some of the changes really kicked in after the so-called second oil crisis of 1979, but it all started 40 years ago.

1979 oil shock meant recession for U.S., depression for autos

12:01 am U.S. ET | Oct. 13, 2013
On Jan. 16, 1979, the Shah of Iran was overthrown, and the Ayatollah Khomeini came to power. He cut Iran's oil production, which reduced shipments of crude oil to the United States. Gasoline prices soared, and the American economy plunged into a recession. The threat of a gasoline shortage and rationing created long lines at gas stations.

After a couple centuries, front drive caught on with a bang

12:01 am U.S. ET | Oct. 13, 2013
In 1978 fwd took the U.S. auto industry by storm.

CAFE adherence proved good things can come in small packages

12:01 am U.S. ET | Oct. 13, 2013
It took laws, two massive oil shocks and an influx of Japanese cars eating market share to put Detroit's gas-guzzlers on a diet.

Goodbye, gas guzzlers; hello, CAFE, econoboxes, imports and hard times

12:01 am U.S. ET | Oct. 13, 2013
Lines for gas, shown on TV and splashed across front pages of newspapers, symbolized the 1973-74 oil embargo, the most serious perceived threat to Americans' freedom of the road since gas rationing in World War II.

Running on empty

12:01 am U.S. ET | Oct. 13, 2013
For Ford, the energy crisis was a watershed event. It came at the same time that air pollution regulations meant adoption of costly catalyst-based systems, an area in which General Motors had a commanding lead.

Caprice: From luxo-barge to slimmed-down family sedan

12:01 am U.S. ET | Oct. 13, 2013
There are two reasons why the Chevrolet Caprice was born. First, Chevrolet was blindsided by the 1965 Ford LTD full-sized sedan. Ford spent a ton of money advertising that the LTD was quieter than a Rolls-Royce -- and Americans believed it.

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