EGEE 420 STUDY EXAMS GUIDE ANSWERS AND
QUESTIONS SET A+
✔✔twin pillars strategy - ✔✔iran and saudi arabia were seen as the two parts of the
regional security
✔✔Iran - ✔✔the big pillar
✔✔kuwait, venezuela, and saudi arabia - ✔✔in 1972 only 3 countries that had not
nationalized
✔✔objective conditions - ✔✔supply demand balence
✔✔objective condition and dependence on oil - ✔✔national energy policy responses to
achieve price stability
✔✔divesiture - ✔✔breaking up the oil companies integrated structure so that each
stage was a different business
✔✔schlesinger - ✔✔pres carter and this man made energy number one priority and
made a national energy policy
✔✔remove price controls on oil and great emphasis on use of coal - ✔✔carter an
schlesinger attempted this in the national energy policy
✔✔remove oil subsidy and let domestic oil that was under price controls rise to market
place - ✔✔carter and schlesingers top priority
✔✔iron law - ✔✔energy consumption would increase by same amount of economic
growth
✔✔nixon - ✔✔first president to address on energy
, ✔✔panic buying - ✔✔meant extra demand in the market
✔✔cost of alt energy sources - ✔✔shah of iran based oil price on the new concept of
✔✔nationalization - ✔✔feverish debate in venezuela was about this in 1974
✔✔Mexico - ✔✔This country was on the verge of economic collapse and possible
military coup, but for the discovery of new oil fields in additional to the price shock of
1973 the country's economy was renewed.
✔✔japan - ✔✔this countries response to energy crisis of 1970s was expand imports on
coal and liquified nat gas, diversify oil imports, accelerate toward nuclear power, and
convert to electric
✔✔Japan - ✔✔In 1978, which country had come to depend on Iran for 20% of its total
oil needs
✔✔equal suffering - ✔✔What strategy did the oil companies pursue during the first Arab
oil embargo of 1973-74
✔✔make 2.5 million barrels of synthetic fuel a day by 1990 - ✔✔In Carter's "malaise"
speech, delivered July 1979, what was the plan to ease the oil crisis as stated to the
American public?
✔✔Mexico to defualt on its loans - ✔✔What serious problem could have caused
international financial crisis in 1982?
✔✔Value gap - ✔✔value of a company's shares did not fully reflect what its oil and gas
reserves would fetch in the marketplace
✔✔Exxon - ✔✔Which oil company tried to develop shale oil in the Colony Project in the
1980s
✔✔3 years - ✔✔How long did the Kuwaiti Oil Minister think it would take for the lessons
learned during the Good Sweating to be remembered?
✔✔Good sweating - ✔✔Which of Rockefeller's principles of business was used by the
OPEC countries in the 1980s
✔✔modernization - ✔✔Iran resented this because of the inflation,waste, and corruption
the inflow of oil money caused
✔✔Ayatollah Khomeini - ✔✔who emerged and gain followers and was a conservative
Islamic who hated the Shah and the United States
QUESTIONS SET A+
✔✔twin pillars strategy - ✔✔iran and saudi arabia were seen as the two parts of the
regional security
✔✔Iran - ✔✔the big pillar
✔✔kuwait, venezuela, and saudi arabia - ✔✔in 1972 only 3 countries that had not
nationalized
✔✔objective conditions - ✔✔supply demand balence
✔✔objective condition and dependence on oil - ✔✔national energy policy responses to
achieve price stability
✔✔divesiture - ✔✔breaking up the oil companies integrated structure so that each
stage was a different business
✔✔schlesinger - ✔✔pres carter and this man made energy number one priority and
made a national energy policy
✔✔remove price controls on oil and great emphasis on use of coal - ✔✔carter an
schlesinger attempted this in the national energy policy
✔✔remove oil subsidy and let domestic oil that was under price controls rise to market
place - ✔✔carter and schlesingers top priority
✔✔iron law - ✔✔energy consumption would increase by same amount of economic
growth
✔✔nixon - ✔✔first president to address on energy
, ✔✔panic buying - ✔✔meant extra demand in the market
✔✔cost of alt energy sources - ✔✔shah of iran based oil price on the new concept of
✔✔nationalization - ✔✔feverish debate in venezuela was about this in 1974
✔✔Mexico - ✔✔This country was on the verge of economic collapse and possible
military coup, but for the discovery of new oil fields in additional to the price shock of
1973 the country's economy was renewed.
✔✔japan - ✔✔this countries response to energy crisis of 1970s was expand imports on
coal and liquified nat gas, diversify oil imports, accelerate toward nuclear power, and
convert to electric
✔✔Japan - ✔✔In 1978, which country had come to depend on Iran for 20% of its total
oil needs
✔✔equal suffering - ✔✔What strategy did the oil companies pursue during the first Arab
oil embargo of 1973-74
✔✔make 2.5 million barrels of synthetic fuel a day by 1990 - ✔✔In Carter's "malaise"
speech, delivered July 1979, what was the plan to ease the oil crisis as stated to the
American public?
✔✔Mexico to defualt on its loans - ✔✔What serious problem could have caused
international financial crisis in 1982?
✔✔Value gap - ✔✔value of a company's shares did not fully reflect what its oil and gas
reserves would fetch in the marketplace
✔✔Exxon - ✔✔Which oil company tried to develop shale oil in the Colony Project in the
1980s
✔✔3 years - ✔✔How long did the Kuwaiti Oil Minister think it would take for the lessons
learned during the Good Sweating to be remembered?
✔✔Good sweating - ✔✔Which of Rockefeller's principles of business was used by the
OPEC countries in the 1980s
✔✔modernization - ✔✔Iran resented this because of the inflation,waste, and corruption
the inflow of oil money caused
✔✔Ayatollah Khomeini - ✔✔who emerged and gain followers and was a conservative
Islamic who hated the Shah and the United States
