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This quiz consists of 5 multiple choice and 5 short answer questions through Part 5, Chapter 30.

Multiple Choice Questions

1. Who subdued much of Arabia and negotiated the exchange of oil for money for his country?
(a) Ibn Saud
(b) Rub al-Khali
(c) Chaim Weizmann
(d) Harry St. John Bridger

2. Who set up the Eastern and General Syndicate to develop business opportunities in the Middle East?
(a) Frank Holmes
(b) Winston Churchill
(c) Robert Nelson
(d) Thomas Neville

3. OPEC lifted the embargo in what year?
(a) 1952
(b) 1998
(c) 1983
(d) 1974

4. During the "Arab oil embargo" gas princes rose how much in the United States?
(a) 12 percent
(b) 40 percent
(c) 3 percent
(d) 76 percent

5. Who was the first country to begin using the practice of "rents?"
(a) Iran
(b) Mexico
(c) Indonesia
(d) Venezuela

Short Answer Questions

1. What "taboo" did Venezuela break in the 1940s?

2. For producing nations, oil was a source of what?

3. In August 1928, Deterding met where with Heinrich Riedemann of Jersey Standard-Germany, Cadman of APOC, William Mellon of Gulf, Robert Stewart of Indiana and others to discuss the oil industry?

4. OPEC agreed on what posted price per barrel of oil?

5. Who called for a "new concept" that would base the price of oil on the cost of alternative energy sources?

(see the answer key)

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