Anita Arnand

So all of this, like I said, you know, sort of leading to diplomatic quaking.

And where there's a diplomatic quake, you often find Henry Kissinger, because it becomes his sort of sole duty to do this sort of shuttle diplomacy, flying between Jerusalem, Cairo, Damascus, dozens of times.

I mean, the air miles on this man during this period.

trying to get some kind of disengagement agreement, separating the armies, but also ensuring the taps are turned back on, that this does not impair American reach into oil.

The embargo ends in March 1974, but the oil price never goes back.

Pre-embargo, the price for a barrel of oil is $3.

After embargo and after Kissinger's diplomacy,

It stays at 12.

That world of a $3 barrel of oil is gone.

That's never going to happen again.

Yeah, absolutely.

But also, do we not then see in this period of time that you get the Gulf super wealthy states?

Because they've also realised, hello, hello.

We can get more for this.

And so you have this ballooning of income for Saudi Arabia, for example, from $4.3 billion in 1973 to $36 billion in just three years in 1976.

Extraordinary.

Abu Dhabi, Qatar, they all go through these transformations, you know, these huge skyscraper edifices that we see.

This could only have happened after they realized the value of what they've got and that they can charge more.

And, you know, wealth funds reshape culture and the political landscape and indeed the mindset.

one might say, of the Arab world.