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Oil Embargo
Oil embargo imposed by member of OAPEC led to fuel shortages and sky-high prices. -
Oil Crisis
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. -
Yom Kippur
Egypt and Syria attack Isreal on Yom Kippur, U.S president Nixon began an effort to resupply Israel. -
OPEC
The OPEC increases the price of oil by doubling the price -
Saudi King Faisal
Saudi King Faisal presses for the OPEC embargo on the U.S -
U.S and Soveit Union
The U.S and Soviet Union negotiate a cease-fire plan, but conflict between Egypt and Israel continue. -
Israel and Egypt at peace
Israel and Egypt sign a cease-fire agreement -
Oil shortage
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 -
Embargo Ends
The embargo ends, but even though the embargo has ended the prices are still high for oil in the U.S -
Conservation act
After the oil crisis, the U.S adopted a new energy policy and conservation act.