Question

What are the effects of the Arab OPEC oil embargo on the United States?

And How were actions taken by Presidents Ford and Carter to address the country's economic downturn similar?

Thanks whoever answers. (:

Answer 1

OPEC (Organization of Petroleum Exporting Countries) In the 1960's (War with Israel against Egypt and Syria.) US sent massive military aid to Israel. Arab nations responded by cutting off oil sales to the United States. But when OPEC resumed selling it's oil to the United States the price had quadrupled. The sharp rise and oil prices only worsened the problem of inflation

Answer 2

The effects were that there was oil shortage due to the embargo. When the embargo was lifted, the prices changed and the price of oil was quadrupled, which only further increased the inflation.