The 1973 oil crisis or first oil crisis

[Michael Grove]

... began in October 1973
...when the members of the Organization of Arab Petroleum Exporting Countries led by Saudi Arabia proclaimed an oil embargo. The embargo was targeted at nations that supported Israel during the Yom Kippur War. The initial nations targeted were Canada, Japan, the Netherlands, the United Kingdom and the United States with the embargo also later extended to Portugal, Rhodesia and South Africa. By the end of the embargo in March 1974, the price of oil had risen nearly 300%, from US$3 per barrel ($19/m³) to nearly $12 per barrel ($75/m³) globally; US prices were significantly higher. The embargo caused an oil crisis, or "shock", with many short- and long-term effects on global politics and the global economy. It was later called the "first oil shock", followed by the 1979 oil crisis, termed the "second oil shock".

I well remember that we were living in Sittard NL when the first Oil Crisis happened and I was issued a special report for duty-permit to travel to the Eurocontrol • Maastricht Upper Area Control Centre, when petrol rationing was imposed in the Netherlands and a weekend curfew on travel was initiated and it was in 1973 that our first daughter Nikki was born by caesarean in our local hospital in Sittard. 

Never forgetting that the United Nations Conference on the Human Environment, had first been staged during the  June of 1972 in Stockholm !!!