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To assure future oil flows, Japan added suppliers outside of the Middle East; invested in nuclear power; imposed conservation measures; and provided funding for Arab governments and the Palestinians. [144] The crisis was a major factor in the long-run shift of Japan's economy away from oil-intensive industries. Investment shifted to electronics.
The 1973 oil crisis was a direct consequence of the US production peak in late 1960 and the beginning of 1971 (and shortages, especially for heating oil, started from there). The "embargo" as described below is the "practical name" given to the crisis.
The Japanese economic miracle (Japanese: 高度経済成長, romanized: Kōdo keizai seichō) refers to Japan's record period of economic growth between the post-World War II era and the beginning of the global Oil Crisis (1955–1973). During the economic boom, Japan rapidly became the world's third-largest economy, after the United States and ...
For Tokyo, this approach has been driven by painful memories of the 1973 oil crisis, when Middle East producers issued an embargo targeted at nations, including Japan, that supported Israel during ...
The Israel-Hamas conflict has revived memories of the Yom Kippur War that sparked the 1973 oil crisis. Deutsche Bank’s strategists even warned this week that the odds of 1970s-style stagflation ...
The 1973 oil crisis marked a turning point, exposing Japan’s vulnerability to external supply shocks and triggering efforts to diversify its energy sources. This period saw the emergence of liquefied natural gas (LNG) as a viable alternative, valued for its lower environmental impact, flexibility, and increasing global availability.
OPEC flexed its muscles on Oct. 17, 1973 by initiating the first stages of a devastating oil embargo on the United States. In response to American support for Israel in the Yom Kippur War, 10
During the 1970s energy crisis, Japan introduced energy-saving measures and became a hub of miniaturization. [1] The women's liberation movement in Japan, known as ũman ribu, began to gain momentum with feminist groups starting to form in 1970. [2] [3] In November 1973, a tissue shortage in Japan was reported by news agencies. [4]