If you think the US economy can currently withstand such an impact, then I have nothing more to say.
From October 1973 to March 1974, the price of oil increased by approximately 300%.
The price trajectory during the crisis moved as follows:
- Pre-Embargo (October 1973): Roughly $3.00 per barrel.
- Post-Embargo (January 1974): Roughly $11.65 per barrel.
Trump: All those sovereign debt that China holds? Inflate it away!
