Quiz

QUICK QUIZ
 * LET's REVIEW

1.** By the end of 2009, what was the price of oil?


 * 2.** Why did OPEC decide to cut production levels of oil?


 * 3.** What did the mentioned meeting between the OPEC nations discuss?


 * 4.** What year did OPEC start in and who were the original 5 countries that lead the company?


 * 5.** What is one of OPEC's main missions?


 * 6.** What are two types of alternative energy sources?

7. About how much money does the U.S. give to oil companies like OPEC?

8. What does OPEC stand for?

9. What is the OFID?

10. What caused the price of oil to collapse in 2008?

11. Decribe OPEC's relations with the U.S.

12. Why does OPEC have a major say in oil prices?

13. Describe wind energy.

1. Over $74 a barrel. 2. To increase the price of oil, and to keep up with their reduction of 4.2 million barrels a day since 2008. 3. The OPEC nations discussed economic recovery, and their desire to supply oil for the benefit of the world. Another meeting was later held to evaluate their marketing situation. 4. It began in 1960 and Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela first lead OPEC. 5. OPEC was created to supply countries with oil and to keep the economy under control. 6. Wind power, geothermal power, hydroelectric power, and solar power. 7. About 700 billion dollars. 8. Organization of the Petroleum Exporting Countries. 9. The OFID, or OPEC's Fund for International Development, is a fund that gives money to third world and developing countries. 10. The global economic collapse. 11. OPEC is on very bad relations with the USA because the US wants the coalition disbanded since they push oil prices higher and higher. 12. Because the oil in the OPEC countries makes up most of the oil known today. 13.Wind pushes huge propellers that turn turbines, which generates electricity that is sent to a power plant and stored. When needed, they increase the voltage to send it where it is needed.