In what ways did the two oil shocks affect OPEC and the oil consumers. What were the outcomes of each shock. You need to discuss specific outcomes to show you have a clear understanding of these two developments?

1- In what ways did the two oil shocks affect OPEC and the oil consumers. What were the outcomes of each shock. You need to discuss specific outcomes to show you have a clear understanding of these two developments?
2- Trace the development of the oil industry in Abu Dhabi/UAE. In what ways this differed from the way oil was developed and run in Saudi Arabia?
3- Briefly trace the important periods in the oil industry. The, discuss the role of various state originations in a country’s oil industry. Is there an approach that is more likely to lead to a more that leads to greater success for an oil industry?

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