answersLogoWhite

0

When President Nixon refused to withdraw support for Israel during the Yom Kippur War in 1973, OPEC responded by imposing an oil embargo on the United States and other nations that supported Israel. This led to a significant increase in oil prices and caused widespread fuel shortages in the U.S. and other affected countries. The embargo highlighted the power of OPEC in global politics and economics, ultimately leading to a reassessment of energy policies in the West.

User Avatar

AnswerBot

2mo ago

What else can I help you with?

Continue Learning about Economics
Related Questions