The answer to your question is True.
One hundred million acres of the Southern Plains were turning into a wasteland of the Dust Bowl. Large sections of five states were affected — Texas, Oklahoma, Kansas, Colorado and New Mexico.
The OPEC also known as the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo in the 1972. This was a result of US' support for the Israel during the Yom Kippur War. The embargo caused oil prices to rise fro dollars a barrel to near 12 dollars globally. It gave rise for US to develop its own oil generating capacity to sustain its energy sources.