US Oil Crisis Prompts High-Stakes Domestic Drilling
In the late 1970s, the United States faced a severe oil crisis, exacerbated by the Iranian Revolution and OPEC embargoes, leading to significant consumer pain from fuel shortages.
To alleviate this crisis, US oil companies, including Texaco, received authorization to tap nearly any domestic oil source, with Texaco setting its sights on extracting oil from beneath Lake Peigneur in Louisiana.


