Alvin was telling his grandson about the oil crisis of 1973: oil prices quadrupling,continuous line-ups at gas stations,and the Trudeau government beginning the process of creating a national oil company-Petro Canada.What precipitated this chain of events?

Question

Quizplus · Accepted Answer

The oil crisis of 1973 was precipitated by the Yom Kippur War, which was fought between Israel and a coalition of Arab states, including OPEC members. In response to the West's support of Israel, OPEC began an oil embargo, which led to a quadrupling of oil prices, long line-ups at gas stations, and a global economic recession. This crisis prompted the Trudeau government to create Petro Canada in an effort to ensure Canada's energy security.

Alvin Was Telling His Grandson About the Oil Crisis of 1973