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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. In the late 1970s, oil buyers did what?
(a) Demanded that less oil be produced so prices would increase
(b) Stopped buying
(c) Hoarded the oil they bought
(d) Sold the oil at low prices

2. Mohammed Reza Pahlavi was placed in control of what country?
(a) Saudi Arabia
(b) Syria
(c) Iran
(d) Israel

3. What was the most competitive market in the world in the 1950s-60s?
(a) Europe
(b) Africa
(c) Asia
(d) South America

4. Which country put an embargo on Iranian imports?
(a) Japan
(b) Britain
(c) Canada
(d) Mexico

5. Which country seized Jerusalem, the West Bank, and the Golan Heights?
(a) Germany
(b) Russia
(c) Israel
(d) Saudi Arabia

Short Answer Questions

1. In 1986, how many oil ministers met in Saudi Arabia and agreed on $18 per barrel plus a new quota system?

2. In 1972, The Limits to Growth predicted that within 100 years what would happen?

3. Oil was completely deregulated in the United States in what year?

4. Which oil company was among those who called for the U.S. to change its policy on Israel?

5. Which oil company was most dependent on Iran?

Short Essay Questions

1. What did Senator Henry ("Scoop") Jackson investigate? How did people respond to these investigations?

2. How did Venezuela respond to events in the Middle East?

3. Venezuela's Alirio Parra helped stabilize OPEC through a meeting with oil leaders. Why was the meeting held? What came out of this meeting?

4. The book discusses some possible changes in the oil industry. What does the author argue is a possibility in the coming years in regards to the oil industry? What might change the face of the oil industry?

5. What factors weakened OPEC's position in the mid-1980s?

6. How did Britain respond to Nassar's demands about the Canal? How did Eisenhower feel about the events?

7. Why did world oil consumption grow so fast in the period between 1949 and 1972? Which countries or areas experienced this growth?

8. Rising prices had what effect on the oil industry? Where did oil companies begin exploring?

9. What message was received from Tehran on November 4, 1979? Why did the event occur?

10. What weakened OPEC's position in the oil industry? Give at least one specific example.

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