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BLACK GOLD. Most countries in SW Asia have a one-resource economy based on petroleum (oil) Most countries in SW Asia have a one-resource economy based.

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Presentation on theme: "BLACK GOLD. Most countries in SW Asia have a one-resource economy based on petroleum (oil) Most countries in SW Asia have a one-resource economy based."— Presentation transcript:

1 BLACK GOLD

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

3 Saudi Arabia has a 200 year proven RESERVE. 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. 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 SAUDI ARABIA

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

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

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

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

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

9 What geographic pattern is evident about the location of oil reserves? What geographic pattern is evident about the location of oil reserves? BLACK GOLD THROUGHOUT THE WORLD

10 Industrialized nations around world WITHOUT proven oil reserves: 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) 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. BLACK GOLD THROUGHOUT THE WORLD


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