1. 1789
   1859
2. 1919

Edwin Drake found commercial success by drilling for oil in 1859 in Pennsylvania, making the state the first oil hot spot in the U.S.

1. 1860s
   1930s
2. 1970s

Just a few years after oil drilling began in earnest, extremely high demand from buyers created the country's first oil shock in the 1860s.

1. Russia
   Iraq
2. Canada

A cholera epidemic in Russia meant increasing oil prices around the world starting in 1895.

1. one
   10
2. 87

The number of car registrations shot up from 0.1 per 1,000 residents in 1900 to 87 per 1,000 residents in 1920. This meant increased demand for oil, leading to higher prices.

1. true
2. false

The U.S. led the world in petroleum production until 1974, when the country's oil production levels were finally surpassed by the former Soviet Union.

1. Venezuela
   Iran
2. Kuwait

After Iran's prime minister nationalized the country's oil production, countries around the world boycotted Iranian oil. This led to rationing and reduced use of planes and buses.

1. Panama Canal
   Suez Canal
2. Strait of Gibraltar

A battle over the Suez Canal blocked the transport of 1.5 million barrels of oil per day from 1956 to 1957, resulting in severe shortages.

1. 1 percent
   5 percent
2. 10 percent

Fighting around the Suez Canal and damage to pumping stations in Iran reduced total world oil output by 10 percent in the 1950s, resulting in shortages and higher prices.

1. 1950
   1960
2. 1970

The Organization of Petroleum Exporting Countries, or OPEC, was founded at the Baghdad Conference in September 1960.

1. five
   eight
2. 12

OPEC consisted of just 5 countries — Iran, Iraq, Kuwait, Saudi Arabia and Venezuela — when it was founded in 1960.

1. 1963
   1973
2. 1983

Egypt and Syria launched the Yom Kippur War when they attacked Israel in October 1973. The war had far-reaching effects on world oil.

1. Canada and U.S.
   China and Soviet Union
2. U.S. and Netherlands

After the U.S. and Netherlands shipped supplies to Israel following the Yom Kippur War, OPEC instituted an oil embargo against the two nations.

1. 200 percent
   300 percent
2. 400 percent

The price of oil quadrupled from $3 to $12 per barrel in the first three months of the embargo.

1. 1974
   1976
2. 1978

Though OPEC only kept the embargo in place until March 1974, it had far-reaching effects on U.S. policies.

1. true
2. false

Both the 55 mph (89 kph) national speed limit and the implementation of fuel economy standards in the U.S. were directly inspired by the OPEC oil embargo of the 1970s.

1. Iraq
   Saudi Arabia
2. Soviet Union

As oil prices slid a whopping 25 percent from 1984 to 1985, Saudi Arabia slashed production by 75 percent in an attempt to keep prices from falling any further.

1. Iraq
   Iran
2. Lebanon

Iraq invaded Kuwait in August 1990, which not only led to a terrible war but also had a dramatic impact on oil markets around the world.

1. 3 percent
   6 percent
2. 9 percent

Iraq and Kuwait were responsible for around 9 percent of oil production when the war started, so the war caused a significant supply shock around the world.

1. Saudi Arabia
   U.S.
2. Canada

The price of oil doubled in the first few months of the Gulf War. Fortunately, Saudi Arabia was able to boost production enough to stop this rapid price increase.

1. 10
   30
2. 50

While there is one car for every 1.3 people in the U.S., there is one car for every 30 people in China. This means a potentially huge increase in the demand for oil as the middle class in China grows.

1. 10 percent
   30 percent
2. 60 percent

The U.S. uses 25 percent of all oil consumed in the world, and 60 percent of that oil is imported.

1. demand from China
   excess supply because of fracking
2. demand from South America

Extremely high increases in Chinese demand for oil led to record-high oil prices in 2008.

1. true
2. false

While China was a net exporter of oil until 1992, the country had net imports of 800,000 barrels per day by 1998.

1. 1 million barrels per day
   2 million barrels per day
2. more than 3 million barrels per day

China was importing 3.7 million barrels of oil per day in 2007, making it the world's third-largest oil importer at the time.

1. $75
   $100
2. $147

Oil hit an all-time high of $147 per barrel at its peak in July 2008 as demand from China exhausted world supplies and drove prices up.

1. They drove more.
   They drove less.
2. Their driving habits stayed the same.

U.S. drivers cut fuel consumption by 5 percent in 2008 in response to soaring gas prices.

1. 20 percent
   33 percent
2. 50 percent

Saudi Arabia produces around a third of all OPEC oil, which means the nation wields tremendous power to influence world oil supplies and prices.

1. 5 percent
   25 percent
2. 49 percent

Forty-nine percent of U.S. oil, or 4.6 million barrels per day, came from fracking rather than drilling in 2015.

1. 25 percent
   55 percent
2. 75 percent

OPEC members produce 55 percent of all oil in the world.

1. 2050
   2150
2. 2250

Many experts suggest that peak oil — the highest possible levels of production — will occur by 2050. After that, the cost of oil production will drive suppliers to more lucrative energy sources, and oil use and production will decline.