Physical Sciences and Mathematics Commons^™

"All The Crises Reached A Concerted Crescendo" - The Arab Oil Embargo And Why The United States Was Unprepared For It, Jonathan D. Chilcote

Masters Theses & Specialist Projects

During the 2008 spike in oil prices, oil companies and government officials were brought under close scrutiny as many Americans began to question why prices were able to rise so quickly. Americans had become accustomed to living in an economy where cheap oil was the norm, and demanded answers when that situation changed. What most of them did not know is that they were repeating history and mimicking the response to the 1973 oil embargo. Just as in 2008, the United States faced a crisis in 1973 with which it was unprepared to effectively cope. This thesis analyzes the reasons …