Lectuere%20questions%2009-%20Rise%20of%20OPEC%20P0

Lectuere%20questions%2009-%20Rise%20of%20OPEC%20P0 -...

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EAS 375 Lecture Questions Rise of OPEC 1. What factors have played a role in the price of oil since its initial discovery to the present? 2. What was the significance of the Achnacarry Agreement in 1928? 3. Why did the major oil companies “hold all the cards” and could dictate the terms for the production of oil in producing nations? 4. It is said of the officials Anglo-Iranian Oil Company (present day BP) that “Never have so much been lost by so few in short a period of time.” What is meant by this phrase refer? 5. What role did the United States and England play in the putting the Shah in power Iran in 1953? 6. What was the basic agreement between President Roosevelt and King Saud in 1945? 7. What is meant by “posted price” of oil during the 1950’s and how did it affect the producing
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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.

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