EPISODE · Apr 6, 2026 · 21 MIN
31 How OPEC Seized the Global Economy
from Crude Ambition: This is the story of power · host By Seven Media
A building in Vienna quietly changes its nickname from "the Texaco Building" to "the OPEC Building," and that says everything. This is the episode where the oil exporters go from bit players to masters of the global economy, petroleum earnings explode from $23 billion to $140 billion, and the industrial world plunges into its worst recession since the war. Episode 31 of Crude Ambition chronicles OPEC's golden age and the staggering price the rest of the world paid for it.
What this episode covers
A building in Vienna quietly changes its nickname from "the Texaco Building" to "the OPEC Building," and that says everything. This is the episode where the oil exporters go from bit players to masters of the global economy, petroleum earnings explode from $23 billion to $140 billion, and the industrial world plunges into its worst recession since the war. Episode 31 of Crude Ambition chronicles OPEC's golden age and the staggering price the rest of the world paid for it.
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31 How OPEC Seized the Global Economy
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