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World energy problems entered the headlines during 1973 and 1974 when members of the Organization of Petroleum Exporting Countries unilaterally quadrupled the price of crude oil. Concurrently, members of the Organization of Arab Petroleum Exporting Countries cut back production and imposed a temporary embargo on shipments to the United States for political reasons. Suddenly, the industrialized nations awoke to their heavy and increasing dependence upon the abundant supplies of oil from Africa, the Middle East, and Latin America. (en) |
