1. OPEC

2. What is OPEC “Organization of Petroleum Exporting Coutries”
Regulates exporting of oil, oil products, and oil pricing
HQ in Vienna, Austria
Produces 40% of whole world’s oil supply
Wants high oil prices
Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, Venezuela

3. OPEC History 1960s Opened Sept. 10-14, 1960 in Baghdad, Iraq
Started in economic and political changes
“Seven Sisters” controlled Oil Marked before
Countries joining OPEC control their own resources (OPEC Policy)
After starting company ten countries joined
OPEC History 1960s

4. OPEC History 1970s OPEC became well known
Countries took control of oil company and oil pricing
Oil prices went up drastically (1973)
OPEC Fund for International Development
Organization gained three members

5. OPEC History 1980s Oil prices dropped badly
Small oil market shares fell
Oil revenue lowers badly
Reference Basket to help price oil
New environmental issues become relevant
OPEC History 1980s

6. OPEC History 1990s Prices became more stable
Recovery while post-Soviet Union settled
Economy and weather effected prices
Producers, consumers, OPEC, and Non-OPEC coordinating affiliations
OPEC History 1990s

7. OPEC’s pricing system made pricing better (early 2000s)
Markets increased prices to record levels
Prices crashed after
Made a “comprehensive long-term strategy”
Help achieve stable markets, environment, development.
OPEC History 2000s

8. USA vs. OPEC Antitrust problems USA accusing OPEC countries, limit oil
OPEC make oil supply go up continuously
Oil pricing issues
OPEC wanting high prices using to advantage, USA depends on oil

9. US Dependency Country’s demand for oil increasing
Persian Gulf biggest oil production (65%)
Happenings in OPEC countries effect oil prices
Most US oil from OPEC countries
US economy relates to OPEC oil prices
Strategic Oil Revenue-oil supply for emergencies

10. Oil Alternatives Tar Sands-sticky substance underground in sand & rock
Tar Sands-bad for environment
Ethanol-oil made by corn
Ethanol-would hurt our food supply
Ethanol-97% of land would be corn if fuel was only ethanol
Both-industries lose more energy than make

11. Pollution Petroleum/oil products poisonous
Petroleum has sulfur & nitrogen tracings
Hydrocarbon
Petroleum/oil is one of the biggest polluters

12. Problems with the US Oil dependency creating a disaster
Not exactly looking for different fuel resources
Oil companies/companies invested in oil not looking for alternatives-USA stuck in a rut
Synthetic oil payments go in taxes-foreign oil no taxes
Foreign fuel in favor-not giving other sources a chance

13. Religion vs. Oil Some OPEC countries are Muslim
USA worried because of Muslim faith-just seeing beliefs as a threat
Some Muslims want to convert all countries-all faiths need to work together-oil countries
Oil products also in concern