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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 was assigned the task of a national energy policy?
(a) Henry Jackson
(b) Grant Wilson
(c) John Rockefeller
(d) James Schlesinger

2. In 1979, Iran produced what percent of the world's oil?
(a) 4-5%
(b) 51-52%
(c) 15-17%
(d) 33-35%

3. The Iran-Iraq war took how many barrels of oil a day off the market?
(a) 200,000
(b) 4 million
(c) 700,000
(d) 1 million

4. How much was the Trans-Alaskan Pipeline to cost?
(a) 2 billion
(b) 10 billion
(c) 250 million
(d) 45 million

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

Short Answer Questions

1. Venezuela nationalized oil production in what year?

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

3. Oil was completely deregulated in the United States in what year?

4. Exxon spent a billion dollars on what in 1980?

5. On October 6, 1973, Egypt and Syria launched a massive coordinated attack on which country?

Short Essay Questions

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

2. 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?

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

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

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

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

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

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

9. OPEC was founded with which goals in mind?

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

(see the answer keys)

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