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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 1962, what television show became a hit, celebrating the "black gold" that had transformed the face of America?
(a) Green Acres
(b) M.A.S.H.
(c) Leave it to Beaver
(d) The Beverly Hillbillies

2. Who partnered to form the Zapata company?
(a) John D. Mellon
(b) King Fahd
(c) George Bush
(d) Alirio Parra

3. In 1986, how many oil ministers met in Saudi Arabia and agreed on $18 per barrel plus a new quota system?
(a) Six
(b) Two
(c) Ten
(d) Twenty

4. The economist E. F. Schumacher called for what?
(a) A dependence on Arab oil
(b) Continued use of a finite resource
(c) Alternatives to high-cost coal
(d) A short-term view of the world's energy needs

5. The Soviet Union invaded which country?
(a) Poland
(b) China
(c) India
(d) Afghanistan

Short Answer Questions

1. Oil producing countries were assigned quotas with what target in mind per day?

2. The American hostages were held until what happened?

3. Who prophesied that Middle Eastern governments would some day threaten the oil-dependent West?

4. The Iran-Iraq war took how many barrels of oil a day off the market?

5. Iraq embargoed oil to which country in response to the events at Camp David?

Short Essay Questions

1. The postwar petroleum order rested on which two foundations? Who wanted to change the agreements?

2. Who succeeded Nasser in Egypt? What changes did he make?

3. What is the Suez Canal? Why was it important for the oil industry?

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

5. Why is 1974 to 1978 known as OPEC's Golden Age?

6. 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?

7. What tensions existed between Iran and Iraq? What effect did this have on the oil market?

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

9. What effects did cheap gas have in the United States in the 1950s? Why were consumers able to obtain cheap gas during this time?

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

(see the answer keys)

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