Iran: Is another 1970s‑style oil crisis looming?

Since the Iran war began, the surge in oil prices has stirred memories of the dramatic oil shocks of 1973 and 1979.    In 1973, oil-producing Arab countries imposed an embargo against Western nations to punish them for supporting Israel during the Yom Kippur War. Oil prices skyrocketed, forcing many Western governments to implement energy-saving measures such as gasoline rationing. Germany,