Presentation on theme: "AIM: How has the importance of petroleum played a role in the recent history of the Middle East? Do Now: Gas prices have nearly doubled since 2003. It."— Presentation transcript:
AIM: How has the importance of petroleum played a role in the recent history of the Middle East? Do Now: Gas prices have nearly doubled since 2003. It is currently at $3.25 per gallon. If the pattern continues, how much will a gallon of gas cost when you get your driver’s license in 2011? Minimum wage was $5.15 an hour in 2003. It is currently $5.85 and hour. If this pattern continues how much will minimum wage be in 2011? HW: Research the alternative energy sources (solar, wind, ethanol, & bio-diesel). Explain the pros and cons of each.
Petroleum Politics I.OPEC – Organization of the Petroleum Exporting Countries 1.Created in 1960. A.Very important in the 1970s. 2.Headquarters in Vienna, Austria. 3.Goal = A.Coordinate petroleum policies & prices B.Protect members’ interests by providing steady income to member countries. II.Persian Gulf War (1990) 1.Saddam Hussein invades Kuwait. A.Wanted its oil. 2.United States forms a coalition against Iraq. A.Combat lasted 5 weeks. B.Iraq agreed to a cease-fire.