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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. What did 100,000 people celebrate in 1970 in the United States?
(a) Christmas
(b) Earth Day
(c) The end of the Korean War
(d) The release of the film "Jaws"

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

3. Who was named Saudi Arabia's Director of Oil and Mining Affairs?
(a) Juan Pablo Pérez Alfonso
(b) Abdullah Tariki
(c) Gamal Abedel Nasser
(d) President Betancourt

4. The economist E. F. Schumacher called for what?
(a) A dependence on Arab oil
(b) Alternatives to high-cost coal
(c) Continued use of a finite resource
(d) A short-term view of the world's energy needs

5. What project did Nixon introduce to make the US less oil dependent?
(a) Project Eagle
(b) Project Arabia
(c) Project Freedom
(d) Project Independence

Short Answer Questions

1. What was the main determinant of energy and oil consumption?

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

3. Which country did not have a quota?

4. The attempted coop in Iran was known as what?

5. Which television show symbolized the greatest boom in history during the 1980s?

Short Essay Questions

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

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

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

4. What weakened OPEC's position in the oil industry? Give at least one specific example.

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

6. What was the "Arab oil embargo"? How did it affect the U.S.?

7. 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?

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

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

10. What triggered economic recovery in 1983?

(see the answer keys)

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