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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. Who conducted a new series of investigations into the oil companies' activities?
(a) Richard Nixon
(b) Senator Alexander Daniels
(c) Senator Henry Jackson
(d) Senator James Niels

2. Oil was completely deregulated in the United States in what year?
(a) 1974
(b) 1968
(c) 1989
(d) 1981

3. Who undercut Middle Eastern oil?
(a) The Soviet Union
(b) France
(c) Chile
(d) The United States

4. Who delivered the first-ever presidential address on energy in the United States?
(a) George Bush
(b) Gerald Ford
(c) John F. Kennedy
(d) Richard Nixon

5. The American hostages were held until what happened?
(a) The OPEC annual conference
(b) The US invaded Egypt
(c) Moscow threatened Iran
(d) Carter left office

Short Answer Questions

1. Who took over leadership in Libya?

2. Who become the symbol of the new age of oil?

3. In what year was OPEC founded?

4. Who prophesied that Middle Eastern governments would some day threaten the oil-dependent West?

5. Who developed an ideology for pushing the oil industry back to basics, fighting self-serving waste and excess, and protecting disenfranchised shareholders' rights?

Short Essay Questions

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

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

3. 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?

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

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

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

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

8. What changes occurred in Libya in the 1970s with regard to the oil industry?

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

10. Rising prices had what effect on the oil industry? Where did oil companies begin exploring?

(see the answer keys)

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