_____________________________________________________________________________

1. The lesson Washington learned about oil from the war was that oil was a business to

important to be __________ by __________________.

2. How did Ibn Saud unite the various tribes of Saudi Arabia?

3. Ibn Saud financed his kingdom by collecting money from those traveling to the holy sites of

________________ and ___________________.

4. ________________ suggested that beneath the sands of Saudi Arabia may be oil

5. Philby negotiated oil rights with Ibn Saud for how much money?

6. After _____ years well #7 finally struck oil, the _________________________________

was producing oil in the Middle East

7. The Queen of England was upset because she felt the Americans had done what?

8. While oil started to be produced in ___________________ the _____________ government

nationalized the industry with the creation of PEMEX.

9. The Americans were concerned at the outset of WWII that the British were trying to

negotiate what?

LIGHTHOUSE CPA SOCIAL SCIENCES DEPARTMENT

ECONOMICS

VIDEO STUDY GUIDE - THE PRIZE PART 5

10. The _______________ didn’t’ get involved in Saudi oil production as a result of protests

from whom?

11. The oil in Saudi Arabia was called “the single _____________ prize in all ____________.

12. When Ibn Saud and Roosevelt met discussions turned to oil and Israel, what were Saud’s

Thoughts on the creation of Israel?

13. The single biggest foreign asset of Britain after WWII was what?

14. In ____________ the Iranians nationalized ___________ industry

15. What caused Saudi Arabia to ban alcohol?

16. Oil production in Saudi Arabia became so large that payments for oil could no longer be

made in _____________.

17. The oil men didn’t fit into the strict law of Saudi Arabia, in fact one oil man was fired on

the spot for teaching what?

18. The U.S. sent troops into Saudi Arabia to ensure what would not happen?

19. Oil played a key role in the Marshall Plan as a way to help _____________ recovery in

Europe and Asia, as well as a way to stop the ___________ of communist influence.

20. The U.S. government wanted to stay out of Saudi oil as long as what happened?

21. The creation of Israel split U.S. foreign policy in what way?

22. A 50/50 split was offered to ease __________ tensions, the first country to accept this split

was ___________________.

23. A 50/50 split didn’t cost the oil companies anything, it worked to ________________

money from the _______ government to the __________ government.

24. The major impact on Iran of the U.S. helping restore the Shaw of Iran to power was what?

25. To help re-introduce Iranian oil back into the world market the U.S. essentially organized

what type of business?

26. Why were U.S. companies reluctant to join the oil consortium?