The Oldsmobile Omega was a compact car sold from 1973 through 1984 by the Oldsmobile division of General Motors. Along with its siblings the Chevrolet Citation, Buick Skylark, and Pontiac Phoenix, it was among the first front-wheel drive cars produced by GM. The Omega essentially served as the rebadging of two existing Chevrolet models; the first generation (1973-79) being based on the rear-wheel drive Chevrolet Nova, and the second (1979-84) on the front-wheel drive Chevrolet Citation. This influx of smaller, more fuel-efficient cars was a direct result of the 1973-74 OPEC oil embargo, with most major automobile manufacturers tossing their hats into the ring to get more cost-effective vehicles on the market.
The Omega was based on the X-body platform popularized by the Chevrolet Nova, and as was the custom for Oldsmobiles it was put together a little more gently, with fancier woodgrain trim and the trademark Olds split grille. Engine options included the standard Chevrolet 250 CID straight-six and Oldsmobile's 350 "Rocket" V8, both available from 1973-79. The third-generation Omega (1980-84) saw a shift from the sleek sporty lines of the Nova to the boxier look of the Skylark, as well as the shift from rear to front-wheel drive and more conservative engine options in the Buick "Iron Duke" 2.5 L inline-four and the Citation's 2.8 L V6. Unfortunately the Omega saw a troubled run, with multiple recalls for various mechanical malfunctions, including braking problems, fuel leaks, and suspension problems. It was replaced by the Calais in 1985.
References:
http://auto.howstuffworks.com/oldsmobile-cars9.htm
http://www.thetruthaboutcars.com/2011/06/junkyard-find-1979-oldsmobile-omega/
http://chevynova.ca/slomega/