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

2. What "taboo" did Venezuela break in the 1940s?
(a) Allowing a foreign country to partner with domestic oil companies
(b) Selling the royalty oil directly on the world market
(c) Breaking an oil agreement for a better deal
(d) Taking less than market value for its oil production

3. The "Neutral Zone" was between Saudi Arabia and which other country?
(a) Egypt
(b) Kuwait
(c) Iraq
(d) Syria

4. For producing nations, oil was a source of what?
(a) Serenity
(b) Inequality
(c) Pride
(d) Hardship

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

Short Answer Questions

1. Who was the first country to begin using the practice of "rents?"

2. Who struck a deal with Saudi Arabia for $9.5 million up front; $1 million a year, whether or not oil was pumped; and a royalty of $0.55 per barrel?

3. In October 1940, who bombed Dhahran?

4. The deals between countries and oil companies for royalties and other fees were referred to as what?

5. What document came out of the meeting, which encouraged cooperation by the oil companies?

(see the answer key)

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