What are the social consequences of the oil crisis in 1973

Effects of Oil Crisis 1973

OPEC had powerful leverage in setting production output and in establishing a benchmark price for crude oil in the world. ... When the embargo took hold, oil prices jumped from $2 per barrel to $11. The impact hit American consumers in their wallets as retail prices for gasoline soared by 40 percent in November 1973 alone.

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in november 1781, john hanson became the first president of the united states in congress assembled, under the articles of confederation. many people have argued that john hanson, and not george washington, was the first president of the united states, but this is not quite true.

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