The Energy Crisis of 1973-1974 concerned oil.

Question 10 options:

True

False

Answer: The correct option is: True.

Explanation:

The Energy Crisis was a consequence of the 1973 Arab-Israeli War. The United States made the decision of supporting the Israeli military on this. As a consequence, the Arab members of the Organization of Petroleum Exporting Countries (OPEC) decided to impose an embargo against the U. S. in retaliation. The economic consequence of the embargo was the increment of oil's price, that increased nearly 400% by the end of 1974; from US$3 per barrel to nearly $12 globally.

Answer: True

Explanation:

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