View a FREE sample

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

Multiple Choice Questions

1. The "Arab oil embargo" consisted of what?
(a) Arab companies seizing control of foreign oil fields in Arab countries
(b) The ban on the import of oil to Arab countries
(c) Western countries boycotting Arab oil
(d) The total ban on the export of oil to the U.S. and the Netherlands

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

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

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

5. OPEC agreed on what posted price per barrel of oil?
(a) $4.12
(b) $38.72
(c) $11.65
(d) $23.99

Short Answer Questions

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

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

3. In October 1940, who bombed Dhahran?

4. 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?

5. 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?

(see the answer key)

This section contains 262 words (approx. 1 page at 300 words per page) View a FREE sample