Mark A. Stansberry

October 17, 1973: Nearly 50 Years Later…


Forty-nine years ago, on October 17, 1973, the Arab oil embargo began as agreed to by the Organization of Petroleum Exporting Countries (OPEC) oil ministers. Since that time, beginning with the embargo, U.S. energy and economic direction has been impacted due to that decision. (The members of OPEC initiated the oil embargo.)

A few months later, in 1974, the International Society of The Energy Advocates, now known as The Energy Advocates, was founded. The mission of The Energy Advocates was to educate the public about energy issues and policies, therefore, combatting the OPEC stronghold.

The Organization of Petroleum Exporting Countries was established for the express reason of exerting pressure on the western nations pledging support to Israel at the time. This was the beginning of an organized and official political movement against the West.

This would be the first time the OPEC nations would wield the oil. At a time when America was experiencing upheaval and uncertainty on nearly all socio-economic fronts, the energy crisis threatened the very fabric of the American way of life. Prices reacted almost instantly, and the effects of the Arab oil weapon were felt by citizens across America. Fuel shortages were commonplace during the period of the fall of 1973 to the summer of 1974. This was the first time since World War II that U.S. citizens experienced lines at the pump. This cut in the global supply of oil was devastating to the U.S. economy, and soon other western nations experienced high inflation and economic recession.

Nearly 50 years later, America is turning the corner. The U.S. today has been proven to possess an abundance of both oil and gas. There is the rallying cry for American energy independence that many in the industry believe is achievable.

Despite this move in the right direction, however, we cannot afford to let up in our national quest to achieve total energy dominance. It would only take a political crisis like Iran blocking the Strait of Hormuz to hold a percentage of the world’s oil hostage and drive up oil prices. Our energy security still needs to be addressed through the development of a comprehensive domestic energy policy.

The founders of The Energy Advocates would be proud to know that the oil and gas industry is still advocating for energy independence. America Needs America’s Energy now more than ever!

It is critical for those of us in the energy industry to rise to the challenge to make a difference when it comes to energy issues. The goal is to raise awareness and change the public’s perception of the energy industry. For too long, many have painted a misleading and false picture of the energy business. Energy education begins by recognizing that energy is a basic requirement of life. Our quality of life is dependent upon the development of all forms of energy, as well as the conservation of our natural resources. The facts are clear: Energy production and consumption work in concert with the environment. We should be passionate about presenting the public with facts and solutions to tough questions on the energy issues that face the United States, including those related to our environment.

America Needs America’s Energy!

Author Profile
Mark Stansberry
Contributor - 

Mark A. Stansberry, Chairman of The GTD Group, is an award-winning author, columnist, film and music producer, radio talk show host and 2009 Western Oklahoma Hall of Fame inductee. Stansberry has written five energy-related books. He has been active in the oil and gas industry for over 44 years, having served as CEO/President of Moore-Stansberry, Inc., and The Oklahoma Royalty Company. He has served as Chairman of the Board of Regents of the Regional University System of Oklahoma, Chairman 2016-2017 of the Gaylord-Pickens Museum/Oklahoma Hall of Fame Board of Directors, Lifetime Trustee of Oklahoma Christian University, and Board Emeritus of the Oklahoma Governor’s International Team. He has served on several public and private boards. 

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