BLACK GOLD.

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Presentation transcript:

BLACK GOLD

BLACK GOLD Most countries in SW Asia have a one-resource economy based on petroleum (oil) ½ of all the proven oil reserves are located in this region

BLACK GOLD IN SAUDI ARABIA Saudi Arabia has a 200 year proven RESERVE. The Saudi government could purchase all 32 NFL teams (player contracts, employee salaries, stadiums, etc.) with just six weeks of revenues from oil.

BLACK GOLD IN SW ASIA Kuwait Iraq Top 5 Oil Producers World-Wide: Had a proven reserve of 21 BILLION barrels until the 1st Gulf War Iraq Has a proven reserve of 7 BILLION barrels Top 5 Oil Producers World-Wide: Saudi Arabia United Arab Emirates (U.A.E.) Iran

BLACK GOLD THROUGHOUT THE WORLD Other countries around the world with proven oil reserves: North America Mexico United States Canada

BLACK GOLD THROUGHOUT THE WORLD Other countries around the world with proven oil reserves: Central and South America Venezuela

BLACK GOLD THROUGHOUT THE WORLD Other countries around the world with proven oil reserves: Europe United Kingdom Russia Norway Denmark

BLACK GOLD THROUGHOUT THE WORLD Other countries around the world with proven oil reserves: Africa Libya Nigeria Algeria Angola Egypt Congo Gabon

BLACK GOLD THROUGHOUT THE WORLD What geographic pattern is evident about the location of oil reserves? ALL OIL IS FOUND NEAR BODIES OF WATER!!!

BLACK GOLD THROUGHOUT THE WORLD Industrialized nations around world WITHOUT proven oil reserves: France Germany Japan China How might these nations w/o proven reserves affect oil prices around the world? (Hint: think supply vs. demand) The large consumption of oil by these nations will drive up prices throughout the world.