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Transcript of Period 2
Madie Busche Organization of
Countries What does OPEC stand for? Influences OPEC has
on America... Challenges OPEC Faced Wars That Were Caused by OPEC The Origins of OPEC The formation of OPEC in 1960 has been a profound decision. The oil embargo has resulted in many changes. OPEC has faced many challenges, some
of them include: The Challenge of suppling consumers.
(Who needs what and how much?) In 1974, daylight savings time was implemented year-round. The national speed limit was 55 to save fuel. The Cold War was another war that was caused by OPEC. It wasn't an actual war, it was just increasing tensions between AMerica and the Soviet Union. The presure of the environmentalists.
("You people are going to destroy the planet!") Needing to meet the demand
("I want my oil!!") In 1975, congress created the U.S. Strategic Petroleum Reserve. It currently holds 699 million barrels of oil. Stability
(Not being Unpredictable) In 1977, President Carter formed the U.S. Department of Energy. Being on top of the game
("You are the tiger!") Members of the OPEC Organization EXport(s)/ Bussines Bibliography: Thanx 4 watchin'! OPEC was founded in September 1960 by the founding countries of Iran, Iraq Kuwait, Saudi Arabia & Venezula. It was an agreement between them signed in Baghdad. They became Known as the Founding Countries. The Founding Countries were later joined by others such as Qatar and Libya. http://www.opec.org/opec_web/en/index.htm The organization has 12 members currently::
Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya,
Nigeria, Qatar, Saudi Arabia, United Arab Emirates & Venezuela OPEC is an organization joined by other countries who are big crude oil producers. They basically sell oil to other countries such as the United States, who need the oil. ok
ok http://regionswatch.blogspot.com/2007/08/will-asean-opec-collaboration-pave-way.html http://www.theoildrum.com/story/2006/12/14/8553/1775 http://ww.aspousa.org/index.php/2010/04/opec-ed-stein-cartoon/ http://heftegaz.ru/images/Neft%20Perey/USOPEC.jpg The first war that was caused by OPEC was a war during WWII. The Americans aliied with the British to make sure that the oil did not fall into the hands of the German Nazis. Wars That Were Caused By OPEC The second war that caused by OPEC was the Cold War. This wasn't actually a war. It was just increasing tensions between America and the Soviet Union. Another war that was caused by OPEC was an Arab-Israeli war called the Six-Day War. Arab leaders aliied with the Soviet Union, but still lost the war. One more war thwt was caused by OPEC was a war between Iraq and Iran. Iraq had more advantages in air power, missles, and chemical weapons, and the U.S. extended Iraq credits to buy more advanced American weapons, and the United Ststes shared military knowledge with Iran. http://www.futurecars.com/articles/opec7.html we're not done!