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OPEC Oil Embargo begins
When the U.S. began supporting Israel during the Arab-Israeli war, the member nations in Organization of the Petroleum Exporting Countries (OPEC) began an oil embargo, restricting access to countries supporting Israel from oil. -
Yom Kuppur War
Egypt and Syria attack Israeli-occupied Sinai and Israel's northern border on Yom Kippur. -
Production Cuts
Gulf countries start cutting production at a rate of 5% per month, and most agree to plan to embargo Israel-friendly nations. -
Nixon Responds
The Emergency Petroleum Allocation Act, approved by President Richard Nixon, authorized federal controls over the price, production and marketing of oil and gas. It was just one of many government efforts to manage the effects of the embargo. -
Gas lines form
As fall turned into winter, and gasoline became an increasingly rare commodity, long lines formed at gas stations, irritating comuter's. As supplies ran low, many gas stations went out of business. -
Consumer's react
After the OPEC oil embargo entered its third month, consumers began to realize that smaller, energy-efficient cars had distinct advantages over larger, gas-guzzling automobiles and trucks. Consumers also began to save energy at home by moderating their use of hot water, heat and air-conditioning. -
Project Independence
Nixon's Secretary of State, Henry Kissinger, introduced Project Independence, the first of many programs designed to make the U.S. less dependent on foreign sources of oil and gas. -
Embargo Ends
After Israel withdrew the last of its troops from the west side of the Suez Canal, OPEC agreed to end its oil embargo.
