1973 Oil Crisis

The 1973 Oil Crisis was a significant economic event caused by an embargo imposed by OPEC (Organization of the Petroleum Exporting Countries) in response to U.S. support for Israel during the Yom Kippur War. This resulted in a dramatic increase in oil prices and fuel shortages, leading to long lines at gas stations. The crisis highlighted the world's dependence on oil, spurred energy conservation, and influenced global economies. It marked a shift toward energy policies emphasizing efficiency and alternative sources, shaping the future of energy production and consumption.