Question

What event is a direct cause of the situation shown in the photograph above? (5 points)

Detente
OPEC embargo
Yom Kippur War
Whip Inflation Now

Answer 1

it's the first option OPEC embargo, which was an oil crisis that began in 1973

Answer 2

The correct answer is OPEC embargo.

In 16th October 1973 the Organization of Petroleum Exporting Countries (OPEC) plus Syria, Egypt, and Tunisia decided not to export more oil to those countries that supported Israel during the Yom Kippur war, which confronted Israel against Syria and Egypt and where Israel was victorious. This measure included the US and Western Europe.

This political measure generated a big economic crisis known as the First Oil Shock and characterized by the increment of the oil price. This, added to the large dependence that the industrialized world had on oil, provoked great inflation and a reduction of the international economic activity.