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Oil embargo imposed by member of OAPEC led to fuel shortages and sky-high prices.
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Around the spring time in 1973 the U.S were experiencing shortages of oil, and with the shortage of oil the price for oil increased as well.
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Egypt and Syria attack Isreal on Yom Kippur, U.S president Nixon began an effort to resupply Israel.
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The OPEC increases the price of oil by doubling the price
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Saudi King Faisal presses for the OPEC embargo on the U.S
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The U.S and Soviet Union negotiate a cease-fire plan, but conflict between Egypt and Israel continue.
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Israel and Egypt sign a cease-fire agreement
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World markets lose more than four million barrels a day of oil. OPEC try to increase the price of oil because the U.S need it so much
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The embargo ends, but even though the embargo has ended the prices are still high for oil in the U.S
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After the oil crisis, the U.S adopted a new energy policy and conservation act.