How did the oil embargo in the 1970s affect the US economy?

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asked Jan 20, 2023 3.4k views

2 Answers

RedBassett · Answer 1 · 2023-01-22T20:12:49+0000

Answer: It made costs of oil double and the US rethink there dependnce on the Middle East's oil.

Explanation: This also made the dependnce on oil in the mediterainian lower for the US and Europe. This showed that the US econemy was dependent on the stability of foreign oil supply.

Klaas · Answer 2 · 2023-01-27T09:54:37+0000

Answer: It made costs of oil double and the US rethink there dependnce on the Middle East's oil.

Explanation: This also made the dependnce on oil in the mediterainian lower for the US and Europe. This showed that the US econemy was dependent on the stability of foreign oil supply.

How did the oil embargo in the 1970s affect the US economy?

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