1973 oil crisis - Japan was hard hit

Time: 1973

Place: Japan

Details: Japan was hard hit since it imported 90 percent of its oil from the Middle East. It had a stockpile good for 55 days, and another 20-day supply was en route. Facing its most serious crisis since 1945 the government ordered a 10% cut in the consumption of industrial oil and electricity. In December it ordered an immediate 20% cut in oil use and electric power to Japan's major industries and cutbacks in leisure automobile usage.

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