Here is an overview of US Petroleum Trade from 1973 (oil crisis) to Dec. 2006 from the Persian Gulf and OPEC. It's almost the same amount.
Looks to me that we have ourselves in the same conundrum again, and you can not refute that the 1973 oil crisis had no impact economically on our country.
thanks Mango,
Actually the impact of the 1973 Oil Embargo was somewhat mutted by the fact that it was only a boycott of certain countries.
The loss of oil from the mid-east, or lets say just Saudi (as is discussed in the article I posted) would affect global supplies which would have a much stronger effect on our economy.
I like my pizzia plain.