By Thomas Madison
In 1975 Israel agreed to sign the original agreement with the United States guaranteeing that the US would supply Israel with oil during emergency or wartime circumstances should oil not be available from their regular commercial sources.
Because of this pact with the United States Israel agreed to withdraw from the critically important Sinai oil fields, part of its conquest resulting from the Yom Kippur War.
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The agreement guaranteeing Israel’s oil supplies in wartime was first signed in 1975.
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The agreement was first signed in 1975 during the Ford administration, two years after the Yom Kippur War and following the second disengagement agreement between Israel and Egypt in September 1975, under which Israel agreed to withdraw from the Egyptian oil fields in Sinai. The agreement by the US to guarantee Israel’s oil supply in emergencies was one of the most important of the incentives that motivated Israel to give up the oil fields.
In 1979, during the Carter administration, Israel and Egypt signed the Camp David Agreements, which were accompanied by two agreements between the US and Israel in the format of the 1975 agreement. In these agreements, the US gave Israel guarantees that it would have access to American oil if it was unable to supply the demand of its internal energy market because of war constraints. The agreements even stipulated that the US would assist in transporting oil to Israel if Israel was unable to procure oil tankers on the open market. The two agreements were eventually consolidated into one document. The agreement was set to last for fifteen years, and was supposed to have expired on September 25, 1994. At that point, the Clinton administration extended the agreement for ten years, and in 2004 it was extended for a further ten years. As mentioned, it expired in November 2014, and nothing has been done about renewing it.