Carter, a Democrat from Georgia, took office after defeating incumbent Republican President Gerald Ford in the 1976 presidential election. His presidency ended with his defeat in the 1980 presidential election by Republican nominee Ronald Reagan. In 1973, the Organization of Petroleum Exporting Countries (OPEC), based in the Middle East, had reduced output to raise world prices and to hurt Israel and its allies, including the United States. In 1973, the Organization of Petroleum Exporting Countries (OPEC), based in the Middle East, had reduced output to raise world prices and to hurt Israel and its allies, including the United States. This sparked the 1973 Oil Crisis, a period of high oil prices, which in turn forcing higher prices throughout the American economy and slowed economic growth. The United States continued to face energy issues in the following years, and during the winter of 1976–1977 natural gas shortages forced the closure of many schools and factories, leading to the temporary layoffs of hundreds of thousands of workers.
1980
1980