September 1960 will be remembered by baseball fans, political junkies and oil industry watchdogs. Here’s why.
That month, Pittsburgh baseball fans were on fire. Their beloved Pirates had just clinched the pennant in Milwaukee and, thus, the team was on the way to its first World Series since 1925. Later that October, the players won it all in Game 7 over the New York Yankees, 10 to 9, with a walk-off home run. This has been labeled one of the most exciting Game 7s in baseball history, with the lead changing hands four times. On Sept. 26, history was made in another, more serious way. Richard Nixon and John F. Kennedy faced off in a CBS studio in Chicago for the first-ever televised campaign debate between two presidential contenders. The symbiotic link between politics and television has never been the same since.
On a macroeconomic level, something even more momentous occurred, for on Sept. 14, some large oil producers met in Baghdad to discuss the sorry state of global oil prices. The result? OPEC was formed. The five founding members were Iraq, Iran, Saudi Arabia, Venezuela and Kuwait.