Gas War :: essays papers

Gas War Gasoline is raised by a distillation process where crude cover is heated and fumes are captured and converted into many products such as kerosene, jet fuel, and gasoline to reference a few. Therefore the price of crude oil, which is extracted from oil wells beneath the earths surface, is a major factor in gas prices. The five lead oil-producing countries and their approximate shares of the world supply of oil are Soviet marriage 21%, Saudi Arabia 17%, The United States 15%, Venezuela 4%, and Mexico 4%. These five countries do up 61 % of the worlds oil production subscribe in 1980. Even though The United States is a major manufacturer of oil, it does not make them self-sufficient. The United States uses more oil than they can produce and must look towards foreign countries. An organization called O.P.E.C. controls approximately four fifths of the worlds oil reserves in the non-communist world. The United States is forced to deal with O.P.E.C., not save in its own interests, but also in the interest of its ally and in the interest of maintaining peace. The former Soviet Union may without delay see an interest in selling some of their oil that they have a tremendous amount of. O.P.E.C. which stands for Organization of Petroleum Exporting Countries, is made up of 13 countries Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Indonesia, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador, and Gabon. O.P.E.C. was founded in Baghdad, Iraq in kinfolk of 1960. It was organized in response to oil producing countries that did not consult with the ticker Eastern oil states before lowering their crude oil prices. The producers feared that former(a) countries would establish monopolies. The aim of O.P.E.C. was to create a universal price between the countries, in order to ensure peace between oil producers end-to-end the world. O.P.E.C. also wanted to provide its members with technical and economic support in times of need, since not all the c ountries were completely stable. The headquarters were initially chasten in Geneva, but were later moved to Vienna in 1965. O.P.E.C.s goal was to establish firmly unified prices amongst their members, but the organization was not always successful. In their quest for control over the world mart of oil production, they have ran into several obstacles and setbacks. O.P.E.C. has barely survived being eliminated due to internecine conflicts amongst its members.