The Arab oil embargo of 1973 proved that to us.
In 1972, the year before the beginning of the Arab oil embargo, the sign on the pump said 36 cents, which would be $1.22 today.
Old-timers still talk about the years of the Arab oil embargo in the mid-1970's when coal was king.
The same was true at the time of the Arab oil embargo of 1974.
After the Arab oil embargo there was a sharp drop in big car sales.
In 1973-74, the market lost about half its value when inflation soared because of the Arab oil embargo.
The system was created by Congress in 1975 after the Arab oil embargo.
The strategic reserve was established in 1975, after the Arab oil embargo.
But analysts point to an important difference between the world market now and in the fall of 1973, the time of the Arab oil embargo.
The film is set during the Arab oil embargo of 1976.
