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

2. What weakened OPEC's position?
(a) The Korean War
(b) The opening of new oil provinces
(c) The cost of oil
(d) The closing of the Suez Canal

3. How did Eisenhower feel about the attack on Egypt?
(a) Indifferent
(b) Cautiously happy
(c) Resigned and depressed
(d) Surprised and angry

4. New York City restricted what in 1965?
(a) Taxis
(b) Coal burning
(c) Oil
(d) Gasoline fueled cars

5. Which oil company was among those who called for the U.S. to change its policy on Israel?
(a) Mobile
(b) BP
(c) Shell
(d) Texaco

Short Answer Questions

1. In what year was OPEC founded?

2. Who succeeded Nasser in 1970?

3. What did 100,000 people celebrate in 1970 in the United States?

4. What accelerated the American escape to the suburbs?

5. The economist E. F. Schumacher called for what?

Short Essay Questions

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

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

3. What effects did cheap gas have in the United States in the 1950s? Why were consumers able to obtain cheap gas during this time?

4. What events and situations led to tensions between the U.S. and Britain?

5. What was at the heart of the Arab oil embargo? How did other countries feel about the issues?

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

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

8. OPEC was founded with which goals in mind?

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

10. How did Venezuela respond to events in the Middle East?

(see the answer keys)

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