The Prize: The Epic Quest for Oil, Money, and Power
What was the "Arab oil embargo"? How did it affect the U.S.?
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The Arab oil embargo consisted of production restraints and a total ban on selling oil to the United States and the Netherlands. Since the US didn't have extra oil to sell, the embargo weakened US influence in the oil markets globally. US citizens had trouble understanding why prices increased rapidly, in part because few knew that oil was imported.