Think oil prices are bad today? In October of 1973, members of the Organization of Arab Petroleum Exporting Countries—or OPEC—placed an oil embargo against the United States and many of its NATO allies. This dramatic move was retaliation against the West for their military support of Israel in the ongoing Yom Kippur War. The embargo caused the price of crude oil to promptly skyrocket in the United States, creating an economic and political crisis.
Learn more about this provocative act and its subsequent impact by reading Johana Mata’s Texas History Day research paper on the 1973 oil embargo.
An American gas station experiencing the embargo’s impact (Image courtesy of Vintage Everyday)