7. With whom did Middle Eastern countries align during the cold War? 8. The Iran Iraq War took place between what years? 9. The invasion of what country led the Persian Gulf War?
7. With whom did Middle Eastern countries align during the cold War? 8. The Iran Iraq War took place between what years? 9. The invasion of what country led the Persian Gulf War? 7. Most of them stayed neutral
7. With whom did Middle Eastern countries align during the cold War? 8. The Iran Iraq War took place between what years? 9. The invasion of what country led the Persian Gulf War? 7. Most of them stayed neutral
7. With whom did Middle Eastern countries align during the cold War? 8. The Iran Iraq War took place between what years? 9. The invasion of what country led the Persian Gulf War? 7. Most of them stayed neutral Iraqi invasion of Kuwait
The Middle East in the World Today
Organization of the Petroleum Exporting Countries Cartel – group of businesses controlling market: an alliance of business companies formed to control production, competition, and prices
Organization of the Petroleum Exporting Countries Cartel – group of businesses controlling market: an alliance of business companies formed to control production, competition, and prices Essential Question: How do the actions of OPEC affect nations around the world?
We’ll talk about OPEC ◦ Vocabulary: OPEC, cartel We’ll take notes (#4-9) We’ll work on “keystone skills”
*OPEC = Organization of Petroleum Exporting Countries *Founded in 1960
* OPEC = Organization of Petroleum Exporting Countries *Founded in 1960
This graph illustrates the sources of our oil imports. Note that OPEC contributes 40% of IMPORTED oil.
This graph illustrates the imports by country– note the large contributors– Canada & Mexico are not members of OPEC. Venezuela, Saudi Arabia, and Venezuela are.
This graph illustrates the sources of our nation’s oil supply. Note total imports make up on 45% of our oil supply
*12 members – 8 in the Middle East, 4 outside of ME *Founding members: Iran, Iraq, Kuwait, Saudi Arabia & Venezuela *Later: Qatar, Libya, the United Arab Emirates, Algeria, Nigeria, Ecuador and Angola *Idonesia & Gabon are no longer members
tical%20Bulletin/interactive/2007/FileZ/world mapz.htm
To establish market stability of oil prices & provide mutual support in world oil market
NONE
= Regulate production = Use oil as a political tool: 1973 Oil Embargo News Clip News Clip
Interest in smaller cars Reduction of speed limits to limit oil consumption reduced traffic deaths Desire for energy independence
Expansion of oil production in the USA (new reserves, off shore drilling, marcellus shale “fracking”) Instability in the Middle East (tension between member countries) Sanctions against Iran (nuclear programs)
Homework Keystone Skills!
3 2 1’s of OPEC: 3 facts about OPEC 2 questions about OPEC 1 impact of OPEC