this was most likely in 1972 during the Yom Kippur War when america was on the side of Israel and Israel was at war with the middle east .. the middle east cut off out supply and gas prices raised drastically
OPEC cut off the supply of oil to the US in 1973, not the "middle east".
OPEC has members who aren't located in the middle east (Venezuela, specifically).
You're also leaving out the issue where the "middle east" was grumpy at the US for the mark up on refined petroleum products, not just their response to Israel being attacked by Egypt and Syria.
Oh, and the end of the gold standard adversely affecting the price of crude.
this was most likely in 1972 during the Yom Kippur War when america was on the side of Israel and Israel was at war with the middle east .. the middle east cut off out supply and gas prices raised drastically
ReplyDeleteOPEC cut off the supply of oil to the US in 1973, not the "middle east".
ReplyDeleteOPEC has members who aren't located in the middle east (Venezuela, specifically).
You're also leaving out the issue where the "middle east" was grumpy at the US for the mark up on refined petroleum products, not just their response to Israel being attacked by Egypt and Syria.
Oh, and the end of the gold standard adversely affecting the price of crude.
blah, blah, blah ...