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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Which country set production to achieve price objectives?

2. Who undercut Middle Eastern oil?

3. Which oil company was most dependent on Iran?

4. Mohammed Reza Pahlavi was placed in control of what country?

5. Where was a vast gas field found?

Short Essay Questions

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

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

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

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

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

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

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

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

9. What triggered economic recovery in 1983?

10. What events change the oil landscape in Iran? What happened to Mossadegh?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What are "rents"? How were rents applied to the oil industry? How did this practice change the oil industry? Who benefited from the use of rents in regard to oil?

Essay Topic 2

Yergin makes the point that cheap gas and oil transformed American society in a number of ways. Discuss how oil changed American society. What did oil and gas make possible? What new aspects of society are a result of oil and gas? What would American society be like without oil or gas?

Essay Topic 3

Which country do you think has had the greatest impact on the oil industry? Why? What impact has the country had on the oil industry? Use specific examples from the book to support your answer.

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This section contains 850 words (approx. 3 pages at 300 words per page) View a FREE sample