The OPEC oil embargo was an incident during which the 12 OPEC countries stopped exporting oil to the United States. The embargo sent the price of gas through the roof. Prices more than quadrupled from 1973-1974.
<u>Explanation</u>:
- OPEC was founded by Iran, Iraq, Saudi Arabia, Venezuela and Kuwait in 1960 with the main objective of raising oil prices. OPEC had little effect on oil prices but a rise in demand and a fall in U.S. oil production.
- Extracting oil and natural gas has decreased the quantity of the oil that the U.S. has to import, and added employment, investment, and development to the economy.
- The embargo played a role in stagflation. Oil discovery and refining is again a significant US industry.
Answer:
It required fewer people to produce goods
Answer: True.
Explanation: The coastal plain IS wide in Virginia and is very suitable for large-scale agriculture. So it's true
Answer:
Islam in Indonesia is considered to have gradually spread through merchant activities by Arab Muslim traders, adoption by local rulers and the influence of mysticism since the 13th century. During the late colonial era, it was adopted as a rallying banner against colonialism.
Explanation:
