Unformatted text preview: nations? 8. What are the basic requirements for a successful cartel? 9. Why has OPEC had so much trouble maintaining their production quotas? 10. Why did price controls initiated by the federal government in the early 1970’s make us more dependent on imported oil? 11. Why did the United States fail to institute significant energy conservation measures until the “second oil crisis” in the late 1970’s? 12. What led to the significant increase in “oil reserves” in the OPEC nations during the mid-1980’s? 13 What is meant by the phrase the “lost decade” in the developing nations of the world? 14. Has Saudi Arabia lived up the agreement that President Roosevelt and King Saud signed in 1945?...
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This note was uploaded on 02/06/2012 for the course EAS 375 taught by Professor Na during the Fall '11 term at Purdue.
- Fall '11