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The first major oil crisis

In October 1973, the Arab countries decided to block their oil exports to those nations that had supported Israel in the Yom Kippur War.

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The first major oil crisis

In October 1973, the Arab countries decided to block their oil exports to those nations that had supported Israel in the Yom Kippur War.

Throughout most of the 20th century, industrial production and consumption showed rates of energy efficiency that we now consider to be as inefficient as they are absurd. However, this fact has a simple explanation. In economics the

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