In 1973, the Organization of the Petroleum Exporting Countries (OPEC) placed an embargo on oil production and exports to the United States, as well as other countries that were seen as supporting Israel in the Yom Kippur War. This led to a sudden and severe oil crisis in the United States, as the country was heavily reliant on foreign oil imports. The price of oil skyrocketed, causing a ripple effect throughout the economy. Gasoline prices rose dramatically, leading to long lines at gas stations and gas shortages in some areas. This, in turn, led to a sharp rise in inflation and a significant economic downturn. The embargo marked a turning point in U.S. energy policy, with a greater focus on domestic energy production and conservation efforts.
