[autorepair-comment]Oil sector reading "Lel Bruce Peto" hosts 70's chronology con't..

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Oil sector reading "Lel Bruce Peto" hosts 70's chronology con't..
Oil & Gas Chronology :  The 1970’s

1976
Official price of Saudi Light remains at $12.37 per barrel throughout 1976.

Feb 

EPCA 3-tier price regulation begins. Small changes in Entitlements Program.

April - May 

Lebanese civil war causes drop in Iraq exports through trans-Lebanon 
pipelines to Mediterranean.

May 

OPEC issues press release vowing to "take appropriate measures" to protect 
OPEC interests in light of protectionist actions by certain countries.

Sep 1 

U.S. stripper well oil prices decontrolled.

Dec 14 

640 foot Argo Merchant runs aground on the Nantucket Shoals, spilling 7.6 
million gallons of No. 6 fuel oil.

Dec 

Moderates and OPEC "hawks" disagree on how fast price should rise. Saudi 
Arabia and United Arab Emirates increase prices by 5 percent, others by 10 
percent.