MidtermQuestions - 1. The oil industry began as a supplier...

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1. The oil industry began as a supplier of gasoline Points Earned: 1/1 Your Response: False 2. Under the rule of capture, how would oil producers behave? A. produce less so there is more in times of high demand B. none of the other choices C. produce as much as they can D. produce at a level agreed upon with the other producers Points Earned: 1/1 Your Response: C 3. What invention led to the widespread use of  Kerosene? A. the discovery of large quantities of tar sands B. all of the other choices C. discovery of a new back stop technology D. a safe and affordable fuel burning lamp Points Earned: 1/1 Your Response: D 4. Rockefeller viewed the oil industry of the late 1860's  as A. all of the other choices B. disorganized and inefficient C. having too many producers D. plagued with extreme price volatility Points Earned: 1/1 Your Response: A 5. How many people are on a waiting list for automobiles in  China?
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A. 490 million B. 90 million C. 290 million D. 10 million Points Earned: 1/1 Your Response: B 6. What was/were the social implication(s) of widespread kerosene  lighting? A. longer work hours B. more time for education C. more leisure time D. all of the other choices Points Earned: 1/1 Your Response: D 7. The most unpopular aspect of the partnership between the railroads and Standard Oil via the  South Improvement company involved: A. the drawbacks Standard Oil received which lowered their freight costs B. the drawbacks that raised Standard Oils shipping costs C. all of the other choices D. lower freight rates for the entire oil industry Points Earned: 1/1 Your Response: A 8. Why did the price of whale oil rise so sharply during the  1850's? A. Whale stocks were depleted in the North Pacific B. Whale stocks were depleted in the North Atlantic C. All of the other choices D. Whalers had to travel larger distances Points Earned: 1/1 Your Response: C 9. Where did Rockefeller build the world's largest oil refinery in the  1890's?
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A. Texas B. Pennsylvania C. none of the other choices D. Indiana Points Earned: 1/1 Your Response: D 10. What theme or themes characterize the story of oil? A. Oil as a strategic commodity B. The role in the rise of capitalism and modern business. C. The role of oil in promoting a hydrocarbon based society D. All of the other choices  Points Earned: 1/1 Your Response: D 1. What led to the decrease in Standard Oil's market  power? A. Higher crude oil production in Texas B. all of the other choices C. Edison's invention of the light bulb D. Higher crude output in Russia Points Earned: 1/1 Your Response: B 2. What group hired a London law firm to oppose Samuel's effort to ship oil through the Suez  canal? A.
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This note was uploaded on 03/18/2008 for the course EGEE 120 taught by Professor Considine,timothy during the Fall '07 term at Pennsylvania State University, University Park.

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MidtermQuestions - 1. The oil industry began as a supplier...

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