What effect did the oil embargo of 1973 have on the oil industry in Texas?
HURRY

Increase payments

Explanation:

The embargo had negative repercussions. Organization of the Petroleum Exporting Countries  pressured oil producers to significantly raise payments. By 1974, the price of crude oil had increased, rising from $3 to approximately $12 per gallon, or $17 to $61 per gallon in today's dollars.

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