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Once the broader impact of these factors set in throughout the United States, it triggered new measures beyond the April and November efforts that focused on energy conservation and development of domestic energy sources.

The price of oil per barrel first doubled, then quadrupled, imposing skyrocketing costs on consumers and structural challenges to the stability of whole national economies.

The embargo laid bare one of the foremost challenges confronting U.

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The strains on U. Leffler The Oil Embargo acutely strained a U. For example, Japanese companies started manufacturing automobiles that used less oil to run.

1973 oil crisis

Due to the dependence of the industrialized world on crude oil and the role of OPEC as a major supplier, these price increases hurt the economies of the targeted countries, while at the same time limiting economic activity.

Jump to navigation Jump to search The oil crisis started on October 17 The onset of the embargo contributed to an upward spiral in oil prices with global implications. For more information, please see the full notice.

The Japanese also began focusing on producing electronics such as transistor radios and televisions. But they also recognized the linkage between the issues in the minds of Arab leaders.

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