EGEE 420 TEST PAPER ANSWERS AND QUESTIONS
SET A+
✔✔seven sisters - ✔✔mattei named anglo-saxon,exxon,mobil,chvron, texaco, gulf,
RD/S, British petrol and CFP
✔✔Mattei - ✔✔ended 50/50 agreements for good
✔✔alfonso - ✔✔wanted to raise oil prices in Middle east and control production after
seeing its bad wealth
✔✔Eisenhower - ✔✔put quotas on imports to help domestic markets
✔✔production and prices - ✔✔alfonso change this instead of nationalizing his country
✔✔posted prices - ✔✔taxes and royalties associated with these prices
✔✔cut to posted prices - ✔✔caused the original meeting of the men to start the OPEC
✔✔alfonso and tarika - ✔✔two men meet to start up OPEC
✔✔wanda Jabionski - ✔✔correspondant to start OPEC
✔✔OPEC - ✔✔originally started to make integrated national oil company, defend oil
price structure, dump 50-50
✔✔Us response to Soviets price cuts so price cut posted - ✔✔OPEC completed bc of
this event
✔✔quotas - ✔✔biggest and most important/influential us postwar energy policy
✔✔arabs - ✔✔released embargo banning oil to isreal
, ✔✔system of redistributing supplies by oil co - ✔✔reason why arabs embargo had no
effect
✔✔importance of diversifying sources of supply and maintaining flexible tanker fleet -
✔✔2 lessons us drew from oil embargo made by the arabs
✔✔vietman war and balence of payment crisis - ✔✔why us and brit losing power in ME
✔✔hammer - ✔✔chairman of Occidental petrol
✔✔Qaddafi - ✔✔wanted to raise oil prices in libya
✔✔tehran and tropoli - ✔✔split in OPEC in 1971
✔✔Tehran agreement - ✔✔55-45 deal, gulf nations, increase posted prices
✔✔Tripoli agreement - ✔✔raise posted price by 90 cents
✔✔particapation/joint - ✔✔gulf states sign this ageement in 1970s to compromise from
nationalization and concessions
✔✔Plackes - ✔✔reflected how balence of power shifted to ME and no one listened
✔✔rapid increase of oil imports - ✔✔main concern for nixon admin
✔✔Shultz - ✔✔in charge of cabinet force on oil import control made by nixon admin
✔✔akins - ✔✔advoacte for the US to reduce growth in consumption, raise domestic
production, and import from secure sources
✔✔Sadat - ✔✔nationalist that replaced nassar and wanted to go to war with isreal
✔✔Assad - ✔✔wanted to join forces with egypt to take israel, president of syria
✔✔faisal - ✔✔warned us that they should join forces with arabs instead of israel
✔✔70% - ✔✔OPEC announced this precent of increase of posted price after the 4th
arab isreal war
✔✔exporting countries made own prices without consent of companies - ✔✔big change
after raising posted price 70%
SET A+
✔✔seven sisters - ✔✔mattei named anglo-saxon,exxon,mobil,chvron, texaco, gulf,
RD/S, British petrol and CFP
✔✔Mattei - ✔✔ended 50/50 agreements for good
✔✔alfonso - ✔✔wanted to raise oil prices in Middle east and control production after
seeing its bad wealth
✔✔Eisenhower - ✔✔put quotas on imports to help domestic markets
✔✔production and prices - ✔✔alfonso change this instead of nationalizing his country
✔✔posted prices - ✔✔taxes and royalties associated with these prices
✔✔cut to posted prices - ✔✔caused the original meeting of the men to start the OPEC
✔✔alfonso and tarika - ✔✔two men meet to start up OPEC
✔✔wanda Jabionski - ✔✔correspondant to start OPEC
✔✔OPEC - ✔✔originally started to make integrated national oil company, defend oil
price structure, dump 50-50
✔✔Us response to Soviets price cuts so price cut posted - ✔✔OPEC completed bc of
this event
✔✔quotas - ✔✔biggest and most important/influential us postwar energy policy
✔✔arabs - ✔✔released embargo banning oil to isreal
, ✔✔system of redistributing supplies by oil co - ✔✔reason why arabs embargo had no
effect
✔✔importance of diversifying sources of supply and maintaining flexible tanker fleet -
✔✔2 lessons us drew from oil embargo made by the arabs
✔✔vietman war and balence of payment crisis - ✔✔why us and brit losing power in ME
✔✔hammer - ✔✔chairman of Occidental petrol
✔✔Qaddafi - ✔✔wanted to raise oil prices in libya
✔✔tehran and tropoli - ✔✔split in OPEC in 1971
✔✔Tehran agreement - ✔✔55-45 deal, gulf nations, increase posted prices
✔✔Tripoli agreement - ✔✔raise posted price by 90 cents
✔✔particapation/joint - ✔✔gulf states sign this ageement in 1970s to compromise from
nationalization and concessions
✔✔Plackes - ✔✔reflected how balence of power shifted to ME and no one listened
✔✔rapid increase of oil imports - ✔✔main concern for nixon admin
✔✔Shultz - ✔✔in charge of cabinet force on oil import control made by nixon admin
✔✔akins - ✔✔advoacte for the US to reduce growth in consumption, raise domestic
production, and import from secure sources
✔✔Sadat - ✔✔nationalist that replaced nassar and wanted to go to war with isreal
✔✔Assad - ✔✔wanted to join forces with egypt to take israel, president of syria
✔✔faisal - ✔✔warned us that they should join forces with arabs instead of israel
✔✔70% - ✔✔OPEC announced this precent of increase of posted price after the 4th
arab isreal war
✔✔exporting countries made own prices without consent of companies - ✔✔big change
after raising posted price 70%
