The Energy Crisis In The 1970's

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The energy crisis was a period in U.S. history during the 1970’s in which oil prices skyrocketed as a result of inflation, low oil production, and a foreign oil embargo (history.com). All American industries the relied upon some aspect of oil consumption. These uses could vary from shipping to manufacturing of goods. In the 1970s, inflation led to increased consumer prices. Additionally, low oil production increased these already steep costs. Finally, an embargo was placed on the U.S. and the Netherlands by the OPEC due to involvement on the Yom Kippur war. problem began as a result of U.S. Leaders did little to aid the public during the energy crisis. Instead, they encouraged rationing and a lesser fuel consumption. Over the past 40 years