Energy crisis is one of the most talked topics in present times. At the time the U.S had rising oil consumption, falling production and increasing imports of oil, mostly from OPEC countries. The decision by the U.S. to intervene in the Yom-Kippur War on the side of Israel had a disastrous effect for the US economy. With the OPEC oil embargo of 1973, oil prices jumped 350%, and the higher costs rippled through the economy. Middle Eastern memb… The Energy Crisis of the 1970s The Energy Crisis of the 1970s Students read and annotate a briefing about the energy crisis of the 1970s and identify stakeholders in the U.S. energy system in 1975, both foreign and domestic. The two worst crises of this period were the 1973 oil crisis and the 1979 energy crisis, when the Yom Kippur War and the Iranian Revolution triggered interruptions in Middle Eastern oil exports. The 1970s Energy Crisis: Chaos Yesterday versus Today. The first was a dramatic rise in energy consumption, with the United States consuming a huge percentage of the world's energy in proportion to its population. Early in the war, the U.S decided t… Our first segment in the Powerless series explores the turbulent 1970s, and the energy crises that shaped a generation — ushering in things like energy efficiency and alternative energy resources. People all over the world are somehow or other effected by the ongoing energy crisis. The energy crisis played a key role in the economic downturn of the 1970s. Domestic oil production declined at the same time, leading the country to lean heavily on foreign oil, and in 1973, the US was placed under an OPEC embargo for political reasons. An energy crisis is any significant bottleneck in the supply of energy resources to an economy.In literature, it often refers to one of the energy sources used at a certain time and place, in particular those that supply national electricity grids or those used as fuel in Industrial development and population growth have led to a surge in the global demand for energy in recent years. • If energy demand were to level off today, the story would be alarming enough; but every study and projection tells of an even more frightening future. Several events combined to bring about the energy crisis of the '70s. Because trade and finance all over the world are largely dependent on the oil market alone. Although business and government asked consumers to help by conserving energy, and entrepreneurs worked on solutions, the economic crises worsened. The 1970s energy crisis occurred when the Western world, particularly the United States, Canada, Western Europe, Australia, and New Zealand, faced substantial petroleum shortages, real and perceived, as well as elevated prices. In October of 1973 Egypt and Syria (supported by a number of Arab nations) launched an attack against Israel which came to be known as the Yom-Kippur War. We all have to know the causes of energy crisis, its effect on our daily life and what is the solution to this problem.

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