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| • Surge in oil use was driven by |
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Definition
o Rapid economic growth and rising incomes
o More cars and more factories that were fueled by oil
o Petrochemical industry transformed oil and natural gas into plastics
o Falling prices of oil
o Each oil exporting country wanted higher volumes of ITS oil sold in order to gain revenues |
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| led the strike by coal miners. Made the U.S. find an alternative to coal and switch to oil |
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| had suffered from “Killer Fogs” as the result of pollution from coal burning |
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| • Continental Oil Company |
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Definition
used to be an American regional company until there was a new president
o Realized the lower cost foreign oil was flowing into the U.S. while his oil was restricted by prorationing in Texas, OK and elsewhere
o Continental along with Marathon and Amerada made it big in Libya (company they made was called Oasis Group)
o Continental was going to send oil back to U.S. but government put new import quotas so they found a new market in Western Europe |
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| was a new president of Continnental Oil |
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| 1946 when a family of builders named " " acquired land in Long Island and built a neighborhood ( )- became a prototype for postwar suburb |
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| made the car a virtual necessity |
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| • 1952- the “ ” in Memphis was opened and this started a big trend of motels and long distance trips |
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| Royce Hailey’s Pig Stand, |
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| • Nation’s first drive-in restaurant opened in Dallas in 1921 |
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• 1948- two brother named " " started restaurant in San Bernardino, CA
• 1954- Era of fast food started when a milkshake salesman named Ray Kroc teamed up with the _____ brothers and new outlets called _________ started in suburb of Chicago |
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| had a vision of a turnpike and eventually the New Jersey Turnpike became the busiest toll road in the U.S.- landmarks were the rest areas |
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| signed the Interstate Highway Bill which provided for a 41,000 mile superhighway system crisscross the nation |
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| • The Beverly Hillbillies |
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Definition
| was a celebration of “black gold” for consumers |
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• In Egypt, "he" had no oil to assert his will. Instead he had military force
• Prestige in the Arab had declined but he still wanted to call for the “liquidation” of Israel |
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• Civil war broke out in " "-the country wanted a bigger share of government oil reserves but the government said no- war over oil revenues and ethnic and religious conflicts
• " " war also removed more oil exports from the world |
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Term
| • “the floating crap game”- |
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Definition
| ”- American’s policy making on the six-day war |
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| • Two lessons came from the 6 day war |
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Definition
| 1. Importance of diversifying sources of supply and 2 maintaining a large, flexible tanker fleet |
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Term
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Definition
economic advisor to the Coal Board
o Charged with providing the intellectual fodder for the coal industry in its great struggle against the oil industry
o Strongest minds on the losing side of the battle and thought coal was the universal aid
o Argued for the use of coal to supply the world’s energy needs
o Warned about dependence on Middle Eastern oil
o Wrote a book that was entitled “Bigger is Better”- not before long he would look less like a killjoy and more like a prophet- book challenged hydrocarbon age |
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