Why did the U.S. enter an energy crisis in the 1970s?
Why did the U.S. enter an energy crisis in the 1970s? By the end of 1950s, the demand for fuel in the US exceeded the local production capacity by far. By the beginning of 1970s, the US was importing over 70 percent of its oil, a thing that made the United States very vulnerable to even the smallest instability in the Middle East. The United States experienced a period of energy crises between 1970 and 1979, which was triggered by conflicts in the Middle East; however, the most critical began in 1973 when the Oil producing nations in the Middle East placed an embargo. The embargo was directed towards the west and was meant to punish America because of its support for Israel against Egypt in the Kippur war. The embargo made the prices of crude oil increased from three dollars to over 10 dollars per barrel in 1974
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The energy crisis was not entirely caused by the political alliances, although the alliances played a greater role. In fact, some economist have argued that the real energy crisis in America was caused by social and political event within the US than any outside events.
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