How today’s energy crisis is shaping a whole new tomorrow9 min read . Updated: 31 Oct 2022, 11:05 AM IST
- Bruised and wounded by the sudden energy crisis of 2022, Countries will likely prioritize energy security over all other goals, including that of the transition to clean energy.
NEW DELHI : In 1973, the Organisation of Arab Petroleum Exporting Countries, or OAPEC as it was then known, triggered the first global oil crisis. In October of that year, Arab oil exporters imposed an export embargo on a set of Western countries that supported Israel during the Yom Kippur war. The effects of that first-ever oil embargo, which lasted for six months, were dramatic, causing oil prices to rise four-fold.
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