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Transcript of OPEC
It is a permanent Inter-governmental Organization of oil exporting nations
Its mission is to unify the petroleum policies of its member natioins and keep the oil markets stabilized in order to secure an efficient, economic supply of petroleum to consumers, a steady income to producers and a fair return o those investing in the petroleum industry ----------partial quote from the OPEC website. "Another" presentation by Anirudh Mylavarapu Petroleum is another name for oil. Map of OPEC Gabon is a former member. It "dropped out" in 1994 because it felt that it could produce more oil than they were allowed to in OPEC
Indonesia became an oil importing nation so they decided to leave OPEC in 2009. The country hopes to return to the Organization when they become an oil importing nation. Legend. Also they couldn't pay the $2,000,000 membership fee. Hey, I don't blame them for leaving OPEC. I would love to save $2 million dollars/year as well. Equador suspended its membership for nine years. They got the idea of quitting OPEC from Ecuador, the only difference was that Ecuador rejoined. I think $2,000,000 is enough money to raise my allowance. former member Sources http://www.whereistheoutrage.net/wordpress/wp-content/uploads/2008/02/keefe-crude-oil-prices.jpg [Pictures] Facts about oil Quit for some time, then renewed membership. 21/MAY/2010 Map made by: Wikipedia Commons, editions have been made by Anirudh Mylavarapu Current Memebers Source: Wikipedia Cartoon showing different one way drivers are trying to save, switching to E-85. Things that you may know but many people don't know that you should know about OPEC Headquartered in Vienna,Austria Controls 2/3 of the worlds known oil reserves. There are 12 member countries (right now) The current memeber nations are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela. Oil is measered in Barrels One barrel is 42 gallons More things you should know about OPEC OPEC produces a third of the worlds oil supply, or about 30 million barrels/day. Since they produce such a large amount of oil, OPEC can control how the price of oil changes. Example More oil production = Lower prices OPEC's price for Oil was $76.41 per barrel of oil on May 10 2010 So... This means that gasoline should cost $1.76/gallon (76/42=1.76) right? WRONG!!!! OIL PRODUCTiON http://india.targetgenx.com/files/2008/06/oil.gif Crude oil is actually really "CRUDE" and needs to be refined. Refining costs MONEY. Something I don't really have... Unless Indonesia gave me the $2 million dollars they saved each year by not being in OPEC I do not take any responsiblility for your illness or death if you consume any of these forms of oil, as some of them may contain Lead.... You have been warned. Since oil Refining costs money, a gallon of gas will be about $2.70/gallon. Yearly, they make $900,000,000 There member nations get a portion of that money The original member nations are Iran Iraq Kuwait Saudi Arabia and Venezuala. DEAD PLANTS+DEAD ANIMALS+SAND+LOTS OF PRESSURE+MILLIONS OF YEARS= OIL TIMELINE OF OPEC Things are always easier to understand with comparisons so here are some comparisons ....1960.......1965.........1968.........1969.....1973.......1975.......1976........1979...........1986..........1990-1991...........1992........1998-1999........2000.........2004.........2005...........2007.......2008... OPEC was created by the alliance of the 5 original countries The purpose of this Organization was to increase the price of Crude oil and allow for more income for the respective member countries Headquarters moves to Vienna,Austria
Rules, and policies are established. Established a new policy that stated that each individual country had control of there own oil. 10 member nations. OPEC is now internationally known and controls most of the worlds oil production because of this the price of oil steeply increases A new mandate was created to make international cooperation and world relations key. OPEC fund for international development created.(OFID) Also membership grew to 13 Iranian revolution happens, Oil production slows. Oil price CRASHES OPEC intervened in the middle east and prevented Operation Desert Storm lower the price of oil. Earth Summit, made OPEC make more realistic Decisions on how to use there asset. Prices of oil back where it was in 1986
Established stable energy markets. Prices Soared To record Levels.Before collapsing in the economic downturn Price of oil Continued to rise Summit set stable Energy markets. PRICE OF OIL Every Year OPEC makes about $900,000,000 If they donated all of that money to the US we would be debt free in about 15 thousand years. As you [hopefully] remember OPEC makes 30 million barrels of oil per day. That is the amount of oil you will use in 16,494 [human] life times. Also 30 million barrels of oil is the amount a Boeing 747 will use in 60.76388 or if you round up 61 days. At the current rate of cunsumption we will run out of oil by... [to be continued...] Never! As BP has shown there is a lot of oil under the surface of the Ocean. 2 billion years of Dead plants and animals... makes a lot of oil. [Text] “OPEC.” Wikipedia, the Free Encyclopedia. Wikimedia
Foundation, 13 May 2010. Web. 14 May 2010. <http://en.wikipedia.org/wiki/OPEC>. “OPEC : Our Mission.” OPEC.org. Organization of the Petroleum Exporting Countries. Web. 14 May 2010. <http://www.opec.org/opec_web/en/about_us/24.htm> "OPEC : Brief History." OPEC.org. Organization of the Petroleum Exporting Countries. Web. 14 may 2010. <http://www.opec.org/opec_web/en/about_us/24.htm>. "OPEC: OPEC Downstream Capacity: Existing and Projected." OPEC.org. Organization of the Petroleum Exporting Countries. Web. 14 May 2010. <http://www.opec.org/opec_web/en/data_graphs/647.htm>. "CIA - The World Factbook." Welcome to the CIA Website - Central Intelligence Agency. CIA.gov. Web. 15 Ma 2010. <https://www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html
http://en.wikipedia.org/wiki/File:OPEC.svg Well not really, this project is about OPEC so instead of talking about Oil Production I have decided to waste time reading this sentence. Oh wait two sentences. Will hopefully create anxiety to all the people, walls, desks and binders in this room. A humungo amount of stuff that you know about OPEC, (if you PAID any attention) http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/homepage/STAGING/local_assets/bp_homepage/html/rov_stream.html Note: This presentation is not free and all viewers are required to PAY attention.