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In October 1973, America learned an unforgettable lesson about what happens when a strategic rival controls the one input everything runs on…
Arab oil producers announced an embargo on the United States – and almost overnight, the world’s most powerful economy was brought to its knees. Oil prices roughly quadrupled. Gas lines stretched for blocks. Washington imposed a national 55-mph speed limit to ration fuel. And the shock helped usher in a decade of stagflation that scarred an entire generation of investors.
The embargo itself lasted barely five months. The lesson lasted 50 years: a critical dependency, concentrated in the hands of a rival, is a weapon waiting to be fired.
I bring this up because history is rhyming right now.
