3. The summer of 1990 was marked by euphoria over the end of what?
(a) The Iraqi War
(b) The Vietnam War
(c) The Gulf War
(d) The Cold War

4. What accelerated the American escape to the suburbs?
(a) Electricity
(b) Airplanes
(c) Cheap gas
(d) Coal

5. Who took over leadership in Libya?
(a) Armand Hammer
(b) Abdullah Tariki
(c) David Barran
(d) Muammar al-Qaddafi

Short Answer Questions

1. Iraq embargoed oil to which country in response to the events at Camp David?

2. The American hostages were held until what happened?

3. Who succeeded Nasser in 1970?

4. The exporters' combined earnings was how much in 1977?

5. The global battle of oil production intensified what rivalry?

Short Essay Questions

1. Who succeeded Nasser in Egypt? What changes did he make?

2. What is the Suez Canal? Why was it important for the oil industry?

3. What triggered economic recovery in 1983?

4. Who was Ayatollah Ruhollah Khomeini? What impact did he have on the oil industry?

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

6. 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?

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

8. What were some of the challenges of harvesting oil in Alaska? How did the oil companies address some of the issues?

9. OPEC was founded with which goals in mind?

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

(see the answer keys)

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