EGEE 120
Oil: International Evolution

Summary and Final Tasks


Summary and Final Tasks

In this lesson, the objectives of the national strategies of the allies relating to oil and how they drove the allies to the Middle East after WWI were discussed. In particular, we focused on understanding how Calouste Gulbenkian helped to open up oil concessions in Mesopotamia and the old Ottoman Empire through the Turkish Petroleum Company and the Red Line Agreement. We also discussed how the imbalance in supply and demand caused by the growth in cars (transportation/mobility) and the proliferation of gas stations led to an inelastic demand for oil and sharp increases in the price of oil. The corrupt influence of oil money on politicians and oil industry leaders was exposed through the Teapot Dome and associated kickback scandals. Finally, the tensions over stability of concessions and sovereignty of oil rights and how they led in some cases to revolutions and political unrest in Mexico, Venezuela, and the Soviet Union were discussed.

Time for the Lesson 4 Quiz!

You have finished Lesson 4. Once you are confident that you have reviewed the materials carefully and you have fully participated in the lesson discussion activity, you should be ready to take the Lesson 4 Quiz.

  1. Click on the Modules tab.
  2. Scroll down to Lesson 4.
  3. Enter the "Lesson 4 Quiz" and begin!
  4. The format of the lesson quizzes is multiple choice questions. The quizzes will be based on the book, the online lesson notes, and videos.  Quizzes typically are made available to take any time from Friday afternoon until the following Tuesday.

Tell us about it!

Each week an announcement is sent out in which you will have the opportunity to contribute questions about the topics you are learning about in this course. You are encouraged to engage in these discussions. The more we talk about these ideas and share our thoughts, the more we can learn from each other.