The Prize: The Epic Quest for Oil, Money, and Power Test | Final Test - Medium

Daniel Yergin
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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. What cut the travel time between England and India in half?
(a) The Panama Canal
(b) The Suez Canal
(c) The Indian Canal
(d) The Sioux Canal

2. American hostages were taken from the embassy in which city?
(a) Moscow
(b) Jerusalem
(c) Tehran
(d) Cairo

3. From 1949-72, world oil consumption did what?
(a) Decreased
(b) Doubled
(c) Stayed the same
(d) Tripled

4. Permanent oil platforms had to withstand waves that were how high?
(a) 90 feet
(b) 60 feet
(c) 20 feet
(d) 45 feet

5. Nixon imposed what in 1971 to fight inflation?
(a) Oil price controls
(b) Income taxes
(c) Gas taxes
(d) Carbon embargo

Short Answer Questions

1. OPEC lifted the embargo in what year?

2. The "Arab oil embargo" consisted of what?

3. Who used radio to mobilize Arab nationalism and stir up the whole Third World?

4. The US sold arms to which country in an effort to win freedom for American hostages in Lebanon?

5. In 1962, what television show became a hit, celebrating the "black gold" that had transformed the face of America?

Short Essay Questions

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

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

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

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. Why did Iraqi troops invade Kuwait? What was the result?

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

7. How did oil companies and governments react to the Second Oil Shock?

8. What effects did the Second Oil Shock have on the oil industry?

9. What triggered economic recovery in 1983?

10. What actions did Sadat take toward Israel? What was his goal?

(see the answer keys)

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