OPEC voted to freeze oil prices for three months. Saudi Arabia had been willing to reduce them, but Algeria, Iraq, and Iran, had not been.
Ronald and Nancy Reagan upon Reagan's 1966 Gubernatorial victory, and one decade away from his first run for the GOP Presidential ticket.
Actor turned politician Ronald Reagan delivered California's State of the State address, noting the oil crisis but asserting it was an opportunity to develop resources, freeing the US from foreign petroleum.