AICE vocab/Middle East

Contingent

(adj.) likely but not certain to happen, possible; dependent on uncertain events or conditions; happening by chance

retaliate

(v.) to get revenge; to strike back for an injury

Which of the following best describes the Organization of the Petroleum Exporting Countries (OPEC)?

A loose confederation of oil-producing countries Created in 1960

Which of the following resulted after the Yom Kippur War?

Americans were shocked that they were being held as an oil hostage by the Arab nations of the Organization of the Petroleum Exporting Countries (OPEC) Gasoline rationing was introduced in America. The time of cheap energy ended.

Which of the following issues was Anwar Sadat dealing with when he came to power in Egypt in 1971?

He was trying to restart the Egyptian economy. He was dealing with national malaise resulting from the humiliation of losing the Six-Day War.

Which of the following countries was the founding member of the Organization of the Petroleum Exporting Countries (OPEC)?

Iraq Venezuela

Which of the following was involved in the Yom Kippur War?

Israel A coalition of Egyptian and Syrian forces

Which of the following describes the reaction of the Organization of the Petroleum Exporting Countries (OPEC) to the Yom Kippur War?

It raised the price of oil by 70%.

1908

Oil discovered in the Middle East

Which of the following was true about the Yom Kippur War?

Resulted in the Organization of the Petroleum Exporting Countries (OPEC) raising gas prices Threatened to create a bigger war Caused both the United States and the Soviet Union to pressure the countries to end the war

The United States worked with which of the following countries to try to end the Yom Kippur War?

Soviet Union

Which of the following would result with the Bretton Woods Agreement?

The United States took the dollar off the gold standard exchange. The United States let its currency float.

Fracking

The pumping of water at high pressure to break apart rocks in order to release natural gas

How were the Americans affected by the oil embargo of the Organization of the Petroleum Exporting Countries (OPEC) in 1973?

The rise in oil prices caused an economic downturn.

How did Americans react to the Yom Kippur War?

They realized that there was a new threat to the United States—the oil weapon.

Which of the following was the main goal of the Organization of the Petroleum Exporting Countries (OPEC)?

To create a stable market for member nation's oil

Why did the Organization of the Petroleum Exporting Countries (OPEC) decided to value the price of a barrel of oil against gold?

To make it more stable

Cartel

a formal organization of producers that agree to coordinate prices and production

Embargo

an official ban on trade or other commercial activity with a particular country.

fossil fuels

coal, oil, natural gas

accelerate

to speed up

Gasoline rationing in the United States __________.

was instituted as a result of the Yom Kippur War was instituted by Nixon