Warm-up: -What is GDP? -What is HDI?

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Presentation transcript:

Warm-up: -What is GDP? -What is HDI? Purpose: Does a country possessing oil as a natural resource have a positive or negative impact on the lives of people?

Top Oil Countries in the Middle East Evidence A Top Oil Countries in the Middle East Rank Country Reserves (billions of barrels) World Rank 1 Saudi Arabia 262.3 2 Iran 136.3 4 3 Iraq 115 5 Kuwait 101 6 United Arab Emirates 97.8 7 Libya 41.5 9 Kazakhstan 30 10 8 Qatar 15.2 13 Algeria 12.70 16 Oman 6.1 20

Saudi Arabia

Saudi Arabia Evidence B Oil Revenue-342 billion dollars (90% of GDP) GDP per capita $25,500 25% of the 16 million Saud's live at $500 dollars a month or less! King Salman is worth about 28 billion dollars Saudi Arabia’s HDI is 57th in the world

Iran Evidence C Oil Revenue-$69 billion GDP per capita-$7,200 14 million Iranians live in poverty (20% of the population) HDI rank- 76th

HDI Ranking Evidence D Country HDI Rank Iraq 131 Kuwait 54 United Arab Emirates 41 Libya 64 Kazakhstan 69 Qatar 36 Algeria 93 Oman 84

Venezuela Evidence E GDP per capita $12,950 Oil reserves-#1 in the world! $88 billion in oil exports HDI-71st in the world

Governments? Evidence F Country Government Saudi Arabia Monarchy Iran Theocratic Oligarchy Iraq New Democracy Kuwait United Arab Emirates Several monarchies Libya Kazakhstan President with unlimited powers Qatar Emirate (like a monarchy) Algeria Republic Oman Venezuela Failing democracy

Evidence G WHY????? America and Canada have oil(both are top 10 in production)...what is the difference????? In the US oil makes up 10% of our GDP Canada oil makes up 2.9% of GDP Venezuela 18% of GDP is oil Iran and Kuwait 50% of GDP is oil Saudi Arabia 90% of GDP comes from oil

Evidence H Country Tax Rates Saudi Arabia 0% Iran 35% (but nobody pays them) Iraq 24% Kuwait 0% for workers 15% for oil companies United Arab Emirates Libya ? too new to know Kazakhstan 10% Qatar Algeria 35% Oman Venezuela

YES! So wait...taxes are good? WHEN A COUNTRY COLLECTS TAXES FROM ITS PEOPLE...THE PEOPLE HAVE A SAY IN THE GOVERNMENT!!!! Think about how many times you or your parents say: “What the heck are they doing with my taxes?

Final Thoughts... Is oil production good for the people of a country? (NO! Why not?)