It is a longstanding open problem to devise an oracle relative to which BQP does not lie in the Polynomial-Time Hierarchy (PH). We advance a natural conjecture about the capacity of the Nisan-Wigderson pseudorandom generator [NW94] to fool AC_0, with MAJORITY as its hard function. Our conjecture is essentially that the loss due to the hybrid argument (which is a component of the standard proof from [NW94]) can be avoided in this setting. This is a question that has been asked previously in the pseudorandomness literature [BSW03]. We then make three main contributions: (1) We show that our conjecture implies the existence of an oracle relative to which BQP is not in the PH. This entails giving an explicit construction of unitary matrices, realizable by small quantum circuits, whose row-supports are "nearly-disjoint." (2) We give a simple framework (generalizing the setting of Aaronson [A10]) in which any efficiently quantumly computable unitary gives rise to a distribution that can be distinguished from the uniform distribution by an efficient quantum algorithm. When applied to the unitaries we construct, this framework yields a problem that can be solved quantumly, and which forms the basis for the desired oracle. (3) We prove that Aaronson's "GLN conjecture" [A10] implies our conjecture; our conjecture is thus formally easier to prove. The GLN conjecture was recently proved false for depth greater than 2 [A10a], but it remains open for depth 2. If true, the depth-2 version of either conjecture would imply an oracle relative to which BQP is not in AM, which is itself an outstanding open problem. Taken together, our results have the following interesting interpretation: they give an instantiation of the Nisan-Wigderson generator that can be broken by quantum computers, but not by the relevant modes of classical computation, if our conjecture is true.