1960    The Organization of the Petroleum Exporting Countries (OPEC) is founded.

1973    OPEC starts an oil embargo against a number of western countries, considered to have helped Israel in its war against Syria.

1974    President Richard Nixon signs a bill lowering the maximum U.S. speed limit to 55 MPH in order to conserve gasoline during an OPEC embargo

1974    Oil embargo crisis: Most OPEC nations end a five-month oil embargo against the United States, Europe and Japan.

1979    Libya joins four other OPEC nations in raising crude oil prices, having an immediate dramatic effect on the United States.