1. Fossil Fuels Geopolitical Implications

2. Petroleum Supply and the Global Economy Petroleum Fuel Lubrication Plastics Cost of importing – balance of trade Cost of transporting other goods Currently, the U.S. imports over 40% of its petroleum

3. Fossil Fuels: Distribution As we saw with minerals, no nation is self-sufficient in fossil fuels Nations must trade, form alliances or go to war for the resources they need These factors are the basis for the political position of the Middle East

4. Geopolitics of Petroleum

5. Desert warfare in World War II OPEC and the Oil Embargo of the 1970’s Iraq’s invasion of Kuwait Persian Gulf War Iraq War

6. Other Economic Aspects Environmental Costs Political Costs Reduced flexibility in foreign policy Economic hostages? Multinational Corporations and issues of sovereignty?