THE COUNCIL OF the Convention on the Organisation for Economic Co-operation and Development founded the International Energy Agency (IEA) on November 15, 1974. Initial member countries were: Austria, Belgium, Canada, Denmark, Germany, Ireland, Italy, Japan, Luxembourg, the Netherlands, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States. The initial documents allowed for further nations to join the IEA; as of 2007, 26 countries are members, from Europe, Asia, North America, and the South Pacific (Australia and New Zealand). Its French name is Agence Internationale de l'Energie.

There was an oil crisis 1973–74 in which the Organization of Arab Petroleum Exporting Countries (OAPEC) refused to ship oil to nations that had supported Israel during the Yom Kippur war. Affected countries included the United States, Japan, ...

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