Sentences with phrase «oil embargo by»

Although the need for a reserve had been recognized for decades, it was the 1973 - 74 oil embargo by Arab nations — which significantly affected the nation's economy — that led to its creation in 1975.

The oil embargo by OPEC created a huge increase in gas proces and shortages at gas stations that led to a large recession.

1973 - An oil embargo by the Organization of Petroleum Exporting Countries led Congress to enact a test period of year - round daylight - saving time in 1974 and 1975.

Not exact matches

The recession of 1973 - 1975 in the U.S. came about because of rocketing gas prices caused by OPEC's raising oil prices as well as embargoing oil exports to the U.S..

The Yom Kippur War between Israel and Egypt / Syria in the fall of 1973 hastened the 1970s oil crisis when OPEC declared an embargo that raised the posted price of oil from $ 3.00 a barrel to approximately $ 12 by spring of 1974.

The U.S. - Saudi strategic alliance survived the 1970s oil embargo and 9/11, and is now bound by a common, and more pronounced, anti-Iran rhetoric under President Trump.

When the oil embargo was lifted, the Arabs justified the rise in prices of crude oil by pointing out that inflation increased the cost of goods they had to buy from the industrial nations.

As he settles into his new life, the country is experiencing its own turmoil: an oil embargo has led to martial law and civil war, with the government being led by a man with Fascist ambitions who uses the energy crisis, violent street demonstrations, and a mass shooting to give himself new dictatorial powers and establish a force of Special Police.

Early1970s: Spurred by the Arab oil embargo, GM again works on a battery / electric Corvair but determines it isn't feasible, largely due to the limits of onboard electronics.

Futuregen is based on same old Hitler era bankrupt thermal coal gasification, which have neither been economical or nor worked with now almost $ 30 + billion funding by DOE since first oil embargo of 1973.

As much as the various embargoes, supply crunches and other problems have kcost us as a nation., no one wants to pay any of his / her own money NOT to import oil, as evidenced by the beating back of all attempts tax energy or oil in favor of subsidies right and left.

NASA focused on wind turbine research after the 1973 oil embargo, and Congress passed the first tax credit in 1992; innovation by American and Dutch engineers led to lower costs.

1975: Energy Policy and Conservation Act, Corporate Average Fuel Economy (NHTSA) Intended to reduce energy consumption by increasing the fuel economy of cars and light trucks in response to the oil embargo and resulting price shocks in the early 1970s.

Coal is usually a very cheap source of energy as demonstrated by the chart found at (29) with a high average cost of $ 50.92 per short ton (2000 pounds) for a brief period in 1975 (remember the Arab oil embargo of 1973 - 74) to a cost of $ 18.34 per short ton as of 2004.

By the time Mitchell and Devon Energy combined to «crack the Barnett» in 2002, work on unconventional gas extraction had been underway for decades, tracing back to the oil embargo and even before that to the nuclear tests of the 1960s.

It was used by Germany during World War II and by South Africa during the apartheid era, in both cases because the countries were blocked by international embargoes from buying oil.

Oh, the wonderful techno - optimism of the Space Age, two years before the oil embargo when they thought fuel was cheap enough to deliver houses by helicopter.

Our understanding in 1979 may not by itself have implied a call to action at that point, but we'd already suffered through the 1973 oil embargo, knew that U.S. strategic and economic fortunes were tied to a resource we could not necessarily control, knew of other reasons to switch (pollution, ultimate limits to fossil fuel availability, etc.), and knew that other technologies were seemingly within our grasp.