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This quiz consists of 5 multiple choice and 5 short answer questions through Part 5, Chapter 32.

Multiple Choice Questions

1. The Rothschilds created what company in 1902?
(a) Royal Dutch Company
(b) Asiatic Petroleum Company
(c) Standard Oil Company
(d) Shell Oil Company

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

3. Germans pioneered the extraction of what from coal before World War I?
(a) Petroleum
(b) Nitrogen
(c) Oil
(d) Synthetic fuels

4. Who become the symbol of the new age of oil?
(a) "Sheikh" Ahmed Zaki Yamani
(b) Crown Prince Fahd
(c) The Shah of Iran
(d) Jimmy Carter

5. In December 1941, Japan bombed what target in the U.S.?
(a) Seattle
(b) San Diego Bay
(c) Channel Islands
(d) Pearl Harbor

Short Answer Questions

1. The U.S. established what to contain the Soviets and deal with British financial issues after WWII?

2. What did England sign in 1907 to foil German penetration into the Middle East?

3. In the early 1930s, the United States provided how much of Japan's oil imports?

4. 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?

5. From 1949-72, world oil consumption did what?

(see the answer key)

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