1. BLACK GOLD

2. 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

3. 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.

4. 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

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

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

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

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

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

10. 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.