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OPEC’s Unyielding Grasp. A hole dug too deep to climb out. By: Seth Bornstein. About OPEC. O.P.E.C.-- Organization of the Petroleum Exporting Countries September 10-14, 1960- Baghdad, Iran 12 countries- Intergovernmental Unify/regulate petroleum producers Regular supply of oil

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Opec s unyielding grasp

OPEC’s Unyielding Grasp

A hole dug too deep to climb out

By: Seth Bornstein


About opec
AboutOPEC

  • O.P.E.C.-- Organization of the Petroleum Exporting Countries

  • September 10-14, 1960- Baghdad, Iran

  • 12 countries- Intergovernmental

  • Unify/regulate petroleum producers

  • Regular supply of oil

  • Prices- Control/Change


Opec oil production
OPEC Oil Production

29.8 million barrels per day

44% world’s oil production

79% world’s oil reserves

Saudi Arabia- most- 250 Gbs

1980- 400 Gbs

2009- 1000 Gbs

(1,000,000,000,000 barrels)


U s consumption
U.S. Consumption

  • Most of all countries

  • Transportation= 2/3 oil consumption

  • 40% U.S. yearly energy=petroleum

  • Over half- OPEC

  • Problems


Oil prices
Oil Prices

  • Rising

  • Affect many- cars

  • Inflation

  • Extremely volatile

  • Prices rise—weather/conflict/wars

  • Production drop= prices rise-- High shipping costs


U s problems reliance
U.S. Problems- Reliance

  • At member countries mercy

  • M.E. events- hurt US economy (Arab Oil Embargo)

  • War threat- pull out….

  • Muslim control- views/religion/Israel

  • Conflict today


U s problems deficit
U.S. Problems- Deficit

  • More and more expensive

  • More and more investing

  • $300 billion per year

  • $42 billion deficit

  • Rising- more spending


U s problems pollution
U.S. Problems- Pollution

  • Petroleum= 1 of largest pollutants

  • Contain carbon dioxide/nitrogen

  • Greenhouse gases- global warming

  • Fossil fuels- cars

  • Concentrated massively in cities


U s problem solving
U.S.– Problem Solving

  • Strategic Petroleum Reserve- 707 million barrels

  • 60 day survival

  • Hybrids-

  • Electric

  • Less pollution


U s alternatives ethanol
U.S. Alternatives:Ethanol

  • 60% cleaner than petroleum

  • 50¢ per barrel

  • Ethanol mixtures- E10

  • 364 million barrels reduce

  • Break dependence

  • OPEC crash-15 years

  • Jobs- not overseas


Ethanol prevention
Ethanol Prevention

  • Tax on synthetic oil (ethanol)

  • Convert to ethanol--

  • Jobs lost/Conflict threat

  • M.E.- live in desert again

  • Gov. doesn't want problems

  • No motivation


Ethanol cons
Ethanol Cons

  • More energy produce-provide

  • 11 acres corn= 1 year fuel for a car

  • Feed 7 people for year

  • Damage food production-

  • More corn than food production

  • All cars in U.S. ethanol= 97% of U.S. land


Other alternatives
Other Alternatives

  • Arctic National Wildlife Refuge, Alaska:

  • 20 million acres

  • Sits on oil- 7 billion barrels

  • Tar Sands: Canada

  • Problems with each…

  • Companies- do nothing- think something will be discovered

  • Government- say/don’t do

Arctic National Wildlife Refuge (ANWR)


Sources
Sources

Chazan, Guy. "Oil Prices Surge on Fears Egypt Unrest May Hurt Supply - WSJ.com." Business News & Financial News - The Wall Street Journal - Wsj.com. 1 Feb. 2011. Web. 23 Feb. 2011. <http://online.wsj.com/article/SB10001424052748703439504576115512535632064.html>.

Dye, Lee. "US: Foreign Oil Dependency: Stuck Between a Rock and Hard Place." Energy Bulletin. ABCnews.com, 27 July 2004. Web. 3 Mar. 2011. <http://www.energybulletin.net/node/1253>.

"HowStuffWorks "OPEC and Global Gas Prices"" Howstuffworks "Auto " Web. 1 Mar. 2011. <http://auto.howstuffworks.com/fuel-efficiency/fuel-consumption/gas-price3.htm>.

McNinch, Steven R. "U.S. Ethanol Can Replace OPEC Oil Immediately » Growth Energy." Growth Energy. Longmont Times Cell, 17 Aug. 2010. Web. 3 Mar. 2011. <http://www.growthenergy.org/news-media-center/ethanol-in-the-news/us-ethanol-can-replace-opec-oil-immediately/>.

"OPEC : Brief History." OPEC : Home. Web. 23 Mar. 2011. <http://www.opec.org/opec_web/en/about_us/24.htm>.

"Story - Farm Futures." Farm Futures - Home. 9 Mar. 2011. Web. 10 Mar. 2011. <http://www.farmfutures.com/story.aspx/tap/us/ethanol/supply/is/former/opec/officials/advice.htm>.


Sources1
Sources

"Allah vs. the Price of Gas." Hubpages. Web. 1 Apr. 2011. <http://hubpages.com/hub/Allah-vs-Gas>.

Energy, Growth. "On OPEC's 50th Anniversary, U.S. Ethanol Industry Calls on Congress and Consumers to Help Retire the Cartel | Growth Energy." Renewable Energy World - Renewable Energy News, Jobs, Events, Companies, and More. 14 Sept. 2010. Web. 3 Mar. 2011. <http://www.renewableenergyworld.com/rea/partner/growth-energy/news/article/2010/09/on-opecs-50th-anniversary-u-s-ethanol-industry-calls-on-congress-and-consumers-to-help-retire-the-cartel>.

"OPEC : Setting the Record Straight over Prices." OPEC : Home. Web. 2 Mar. 2011. <http://www.opec.org/opec_web/en/press_room/1990.htm>.

"OPEC (multinational Organization) -- Britannica Online Encyclopedia." Encyclopedia - Britannica Online Encyclopedia. Web. 27 Feb. 2011. <http://www.britannica.com/EBchecked/topic/454413/OPEC>.

"Petroleum - Water, Effects, Environmental, Disasters, Pollutants, United States, History, Causes, Impact, EPA, Soil, Chemicals, Industrial, Liquid, Wells, Toxic, World, Human, Power." Pollution Issues. Web. 27 Feb. 2011. <http://www.pollutionissues.com/Na-Ph/Petroleum.html>.


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