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.
Colombia rejected the U.S. offer to build a canal through Panama.
Answer:
Explanation
We can learn that we should always stand up and exercise our freedom of speech. Another lesson we learned from the protests in the 1960s is that our government is not always right, and we can make a change if we take action.
The correct answer is: Cold War-era competition between the
United States and the Soviet Union
The launch of Sputnik which was the first artificial Earth satellite
launched by Moscow in 1957 sparked U.S. fears of Soviet dominance in technology
and outer space. This resulted in the creation of NASA and the space race.
