1. OIL

2. On half of a notebook page, place the following headings.
WHEN WAS OIL DISCOVERED AND WHERE?
OPEC, DATES , WHY WAS IT FORMED?
POWER OF OPEC
DESTINATION OF OPEC OIL

3. Petroleum is one of the most valuable natural resources in the world
Petroleum is one of the most valuable natural resources in the world. Some people call petroleum black gold.

5. Fuels made from petroleum
Automobiles
Airplanes,
Factories,
Trucks.
Generate energy & electricity

7. OIL=

8. Buy weapons-build armies
Countries who produce oil use money to-
modernize country
Buy weapons-build armies
Saddam Hussein used Iraq's oil wealth to build one of the world's strongest armies.

9. YIKES!! Oil is a non-renewable resource
Experts believe that we have used about 1/3 of the world's supply of petroleum, and that supplies will be totally gone by 2050.
YIKES!!

10. The Middle East has about 1/2 of the world's oil.
Saudi Arabia has about ¼ of world’s reserves.
About 70% of the worlds oil reserves are in politically unstable
countries. OH NO!!

11. QUESTION:
If someone has something that you need or have to have, how do you interact or deal with them.
RUDE
ARROGANT
.WHO CARES WHAT THEY THINK ATTITUDE
WITH RESPECT AND WORKING TOGETHER

12. History of oil in S.W. ASIA
1908: A British company strikes oil in Persia (now Iran). It's the first big petroleum find in the Middle East,
Standard Oil Company of California, found oil in Bahrain in 1932
Saudi Arabia is the world’s leading oil exporter.

13. OPEC Organization of Petroleum Exporting countries
OPEC has 11 members—Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.

14. QUESTION ?
IF YOU ARE THE ONLY PERSON THAT CONTROLS SOMETHING EVERYONE WANTS, DO YOU CHARGE A FAIR PRICE, OR AS MUCH AS YOU CAN?
WHY ?

15. OPEC
OPEC was created in response to the 1959 import quotas on crude oil by the United States.
In 1959, the U.S. established the Mandatory Oil Import Quota program which restricted the amount of imported crude oil allowed into the U.S.
It gave preferential treatment to oil from Canada, Mexico, and later Venezuela.
This partial exclusion of Persian Gulf oil from the U.S. market depressed prices for Middle Eastern oil.

16. Political Power
1973 Egypt attacks Israel, Yom Kipper
1973: In retaliation for US support of Israel, OPEC enacts an embargo against US and raises the price to our allies 70%
Price of oil rose from $3 to $5.11 a barrel
The world was at the mercy of modern Arab Nationalism
The embargo was lifted in March 1974

17. TODAY
The middle east accounts for 50% of the worlds proven oil reserves
They export tons of oil
60% went to the Asia-Pacific region,
19% to Europe and
15% to North America.
The remaining volumes were exported to South and Central America and Africa.

18. QUESTION
Who is more dependant on Southwest Asian Oil?
America
Europe
Asia

21. Assignment
On a sheet of paper write a letter, poem or rap to a friend. Tell them about Southwest Asian Oil. If time, present to class. Include:
When was it discovered
Tell them about OPEC
Talk about the power of OPEC
Tell them who get the oil oil from the Middle east
Tell them how the rest of the world looks at Southwest Asia.