Yom Kippur War / Oil Crisis (1973) (jan 3, 1973 – dec 10, 1973)

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The Yom Kippur War in October 1973 led to the 1973 oil crisis after Arab members of the OPEC oil cartel, specifically the Organization of the Petroleum Exporting Countries, imposed an oil embargo against the U.S. and other nations supporting Israel in the conflict. This resulted in quadrupled oil prices, causing widespread economic disruption, inflation, and gas shortages. In response, the U.S. created the Strategic Petroleum Reserve, implemented fuel efficiency standards, and reduced the national speed limit.

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