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Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America Highlight

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The United States, which faced growing oil consumption and dwindling domestic reserves and was more reliant on imported oil than ever before, had to negotiate an end to the embargo from a weaker international position. To complicate the situation, Arab oil producers had linked an end to the embargo to successful U.S. efforts to create peace in the Middle East.

— Matt Taibbi

Replicated under Fair Use from Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America by Matt Taibbi.