The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. The embargo was targeted at nations perceived as supporting Israel during the Yom Kippur War; the initial nations targeted were Canada, the Netherlands, the United Kingdom and the United States with the embargo later extended to Portugal and South Africa. By the end of the embargo in March 1974, the price of oil had risen nearly 400%, from US$3 per barrel to nearly $12 globally; the embargo caused an oil crisis, or "shock", with many short- and long-term effects on global politics and the global economy. It was called the "first oil shock", followed by the 1979 oil crisis, termed the "second oil shock". By 1969, American domestic output of oil could not keep pace with increasing demand. In 1925, oil had accounted for one-fifth of American energy use. Oil started to replace coal as a preferred fuel source, it was used to heat homes and generate electricity, it was the only fuel that could be used for air transport.
In 1920, American oilfields accounted for nearly two-thirds of global oil production. In 1945, US production had increased to just over two-thirds; the US had been able to meet its own energy needs independently in the decade between 1945 and 1955, but was importing 350 million barrels per year by the late 1950s from Venezuela and Canada. In 1973, US production had declined to 16.5% of global output. The costs of producing oil in the Middle East were low enough that companies could turn a profit despite the US tariff on oil imports; this hurt domestic oil producers in places like Texas and Oklahoma, selling oil at tariff-supported prices and now had to compete with cheap oil from the Persian Gulf region. The first American firms to take advantage of low production costs in the Middle East were Getty, Standard Oil of Indiana, Continental Oil and Atlantic Richfield. In 1959, President Dwight D. Eisenhower said "As long as Middle Eastern oil continues to be as cheap as it is, there is little we can do to reduce the dependence of Western Europe on the Middle East."
At the behest of independent American producers, Eisenhower imposed quotas on foreign oil that would stay in place between 1959 and 1973. Critics called it the "drain America first" policy; some scholars believe the policy contributed to the decline of domestic US oil production in the early 1970s. While US oil production declined, domestic demand was increasing at the same time, leading to inflation and a rising consumer price index between 1964 and 1970. US surplus production capacity had declined from 4 million bpd to around 1 million bpd between 1963 and 1970, increasing American dependence on foreign oil imports; when Richard Nixon took office in 1969, he assigned George Shultz to head a committee to review the Eisenhower-era quota program. Shultz's committee recommended that the quotas be abolished and replaced with tariffs but Nixon decided to keep the quotas due to vigorous political opposition. Nixon imposed a price ceiling on oil in 1971 as demand for oil was increasing and production was declining, which increased dependence on foreign oil imports as consumption was bolstered by low prices.
In 1973, Nixon announced the end of the quota system. Between 1970 and 1973 US imports of crude oil had nearly doubled, reaching 6.2 million barrels per day in 1973. Until 1973, an abundance of oil supply had kept the market price of oil lower; the Organization of the Petroleum Exporting Countries, was founded by five oil producing countries at a Baghdad conference on September 14, 1960. The five founding members of OPEC were Venezuela, Saudi Arabia and Kuwait. OPEC was organized after the oil companies slashed the posted price of oil, but the posted price of oil remained higher than the market price of oil between 1961 and 1972. In 1963, the Seven Sisters controlled 86% of the oil produced by OPEC countries, but by 1970 the rise of "independent oil companies" had decreased their share to 77%; the entry of three new oil producers—Algeria and Nigeria—meant that by 1970 81 oil companies were doing business in the Middle East. In the early 1960s Libya and Qatar joined OPEC. OPEC was regarded as ineffective until political turbulence in Libya and Iraq strengthened their position in 1970.
Additionally, increasing Soviet influence provided oil producing countries with alternative means of transporting oil to markets. Under the Tehran Price Agreement of 1971, the posted price of oil was increased and, due to a decline in the value of the US dollar relative to gold, certain anti-inflationary measures were enacted. In September 1973, Richard Nixon said, "Oil without a market, as Mr. Mossadegh learned many, many years ago, does not do a country much good", referring to the 1951 nationalization of the Iranian oil industry, but between October 1973 and February 1974 the OPEC countries raised by posted price fourfold to nearly $12. On August 15, 1971, the United States unilaterally pulled out of the Bretton Woods Accord; the US abandoned the Gold Exchange Standard whereby the value of the dollar had been pegged to the price of gold and all other currencies were pegged to the dollar, whose value was left to "float". Shortly thereafter, Britain followed; the other industrialized nations followed suit with their respective currencies.
Anticipating that currency values would fluctuate unpredictably for a time, the industrialized nations increased their reserves in amounts far greater than before. The result was a depre
Yo-Yo is a Grammy nominated American hip hop recording artist and entrepreneur. Much of her music has advocated female empowerment, denouncing the frequent sexism found in hip-hop music, she is the protégé of gangsta rapper Ice Cube. Yo-Yo dubbed her crew the IBWC, which stood for the Intelligent Black Woman's Coalition. Yo-Yo first appeared as a guest on Ice Cube's AmeriKKKa's Most Wanted album in 1990, on the track "It's a Man's World." Cube returned the favor by appearing on "You Can't Play with My Yo-Yo,", on Yo-Yo's 1991 debut album, Make Way for the Motherlode. Each of the video's for the singles from the album were directed by Okuwah Garrett of Power Films, her follow-up in 1992, Black Pearl was well received by critics because of its focus on positive messages and uplifting themes that contrasted the popular gangsta rap style. However, despite a plethora of renowned producers such as DJ Muggs, this did not translate into a hit with mainstream hip-hop audiences, the album's sales were considered a disappointment.
Less than a year released her follow-up You Better Ask Somebody. The final track on the album was her third recorded hip-hop duet with Ice Cube, "The Bonnie and Clyde Theme". Yo-Yo's next album was 1996's Total Control. In 1998, she finished her fifth album, but it was not released. In 2008, her single "Can't Play With My Yo-Yo" was ranked number 92 on VH1's 100 Greatest Hip-Hop Songs; that year, she performed with MC Lyte, The Lady of Rage, Salt-n-Pepa at the BET Hip Hop Awards. As of 2009, she has been at work on an EP, titled My Journey to Fearless: The Black Butterfly. In 2013, it was announced she has joined the upcoming BET reality series Hip Hop Sisters which will focus on six female rappers' lives and their attempts to relaunch their careers. Other rappers confirmed to appear are MC Lyte, Lady of Rage, Monie Love, Lil Mama, Smooth, she appeared in the 1991 film Boyz n the Hood, 1993's Menace II Society and other urban-oriented films. She has made many cameo appearances, including the music video for Missy Elliott's "The Rain".
She appeared in the video game Grand Theft Auto: San Andreas, as the voice of Kendl Johnson. Yo-Yo has taken active roles in advocating for hip-hop musicians and encouraging community involvement, she testified in 1994 at a Senate Judiciary Committee hearing about whether the government should require rating labels on gangsta rap. She founded the Yo-Yo School of Hip-Hop to use hip-hop in curriculum with at-risk students. Yo-Yo dated Tupac Shakur for some time in the 1990s, she was with him in the hospital. She got engaged to DeAndre Windom, the former mayor of Highland Park, Michigan, in August 2012, they were married in 2013 in the Cayman Islands. Make Way for the Motherlode Black Pearl You Better Ask Somebody Total Control Ebony Hits Revealed 1990 – "Stompin to tha 90's" 1991 – "You Can't Play with My Yo-Yo" 1991 – "Ain't Nobody Better" 1991 – "Girl Don't Be No Fool" 1992 – "Home Girl Don't Play Dat" 1992 – "Black Pearl" 1993 – "IBW'in wit My Crewin'" 1993 – "West Side Story" 1993 – "The Bonnie and Clyde Theme" 1996 – "Same Ol' Thang" 1996 – "Steady Risin" 1996 – "One for the Cuties" 1998 – "Iz It Still All Good" 1998 – "Do You Wanna Ride" 2009 – "Give It T'um" 2019 – "Out of Control" 1990 – "It's a Man's World" 1991 "Debbie B. ft. Yo Yo - Pack Your Bags 1991 – "Mama Don't Take No Mess" 1992 – "Get the Fist" 1993 – "Romantic Call" 1994 – "I Wanna Be Down" 1994 – "Sweet on You" 1995 – "Freedom" 1995 – "Stomp" 1995 – "Crazay" 1996 – "I Can't Take No More" 1997 – "Keep on Pushin'" 1997 – "True Dat" 1999 – "Set Trippin'" 2005 – "Mercedes Boy" 2005 – "Only 4 the Righteous" 2005 – "Boogie Oogie Oogie" 2009 – "Watcha Wan Do" 2009 – "Morning Comes" 2010 – "Só Rezo 0.2" 1991 – Boyz n the Hood … Yo-Yo 1993 – Menace II Society … Girl at Party 1993 – Who's the Man … Herself 1993 – Sister Act 2: Back in the Habit … Sondra 1994 – Adventures of D.
P. Boys 17: South of the Border 1995 – Panther … Pregnant junkie 1997 – Sprung … Sista #3 1999 – Beverly Hood … Tilly 1999 - The Breaks... Loretha 2000 – 3 Strikes … Charita 2000 – The Rev. DoWrong Ain't Right … 2002 – Paper Soldiers … Judge Prince 2019 – Love & Hip Hop: Hollywood... Herself 2019 – Basketball Wives... Herself 2018 – Unsolved: The Murders of Tupac and the Notorious B. I. G.... Pretty Woman 2016 – VH1 Hip Hop Honors... Herself 2014 – 2014 Soul Train Music Awa
Tijana Milojević is a female volleyball player from Serbia. She was a member of Serbia U18 national volleyball team who earned silver medal in both Girls' Youth European Volleyball Championship and European Youth Olympic Festival in 2015. In 2015, Milojević represented Serbia U18 national volleyball team completing the 2015 Girls' Youth European Volleyball Championship which held from 28 March to 5 April; the team reached final beating the likes of Germany, but lost to Russia in five sets. Despite the lost, she was awarded the best libero in the competition. Three months Serbia U18 entered the final again in 2015 European Youth Summer Olympic Festival, but once more fell short in five sets; the match took place on 1 August. Their opponent Turkey led the game by 2-0. Milojević's team won the next two sets, but lost the last set by 8-15. After qualified through Girls' Youth European Volleyball Championship, Milojević participated with the team in the 2015 FIVB Volleyball Girls' U18 World Championship from 7 August to 16 August.
They lost to eventual winner Italy in the quarterfinals and gained a 5th place overall. In 2016, Milojević was selected in Serbia U19 squad at the 2016 Women's U19 Volleyball European Championship. Serbia earned Silver medal. 2015 Girls' Youth European Volleyball Championship Best Libero 2016 Junior Women Balkan Volleyball Championship Best Libero 2015 Youth Girls Balkan Volleyball Championship 2015 Girls' Youth European Volleyball Championship 2015 European Youth Summer Olympic Festival 2016 Junior Women Balkan Volleyball Championship 2016 Women's U19 Volleyball European Championship Player profile in Girls' U18 World Championship 2015 Scoresway player passport Worldofvolley player profile