what were some of the consequences for the us of the 1973 oil embargo
The 1973 oil embargo: its history, motives, and consequences. The months preceding the 1973 embargo witnessed a marathon of negotiations over prices, taxes, and shares between governments of the oil-producing countries and the international oil companies (IOCs), which held long-term concessions.he embargo led to a 30% decrease in the production of oil in Saudi Arabia and Kuwait. Both countries treated their exports to the US and Holland as extra cuts above the original cuts.