Oil Crisis by Victor Osoria

The major causes of the 1970’s Oil Crisis were quadrupled oil prices also increased government spending from the Vietnam War along with the accompanied stock market crash made things worse for United States.
The increase in oil prices was caused by the Middle East who wanted to punish western nations that supported the Israelites during the The Yom Kippur War. Prices went from twenty-five cents to a dollar in only a few months. Arabs had realized how much power they had over oil and Americans found that they could no longer afford to thoughtlessly consume oil.
The results of the Oil Crisis were dramatic and measures were taken to cope. President Nixon had begun to stockpile oil in case the military needed to carry the country. Oil was rationed; gas station voluntarily closed on Sundays, refused to sell gas to “regulars” and wouldn’t sell more then ten gallons to a customer. The public became a little energy efficient also. Families turned down thermostats to sixty-five degrees and people began to trade their mammoth cars for smaller more fuel efficient models. Companies and industries turned to coal.
However, the embargo opened a new era in international relations. It brought up oil as a weapon in political affairs and economical situations. However rising oil prices are a threat not only to the U.S. but to the rest of the world for its dependency on natural resources from Third-World countries.