Back to the front page
Politics

15 Disturbing Truths About The 1970s Energy Crisis

1. Global Oil Supplies Were Suddenly Cut Off

1. Global Oil Supplies Were Suddenly Cut Off
OPEC’s 1973 oil embargo triggered global shortages and economic turmoil amid the Yom Kippur War.

In October 1973, in response to Western support for Israel during the Yom Kippur War, Arab members of the Organization of Petroleum Exporting Countries (OPEC) imposed an oil embargo on the United States and other nations aiding Israel. This action led to severe oil shortages and a significant spike in global oil prices, profoundly impacting economies worldwide. (britannica.com)

Written by

Keep reading

Advertisement