GEOG 1014 Lecture Notes - Lecture 5: Blue Flag Beach, Pipeline Transport, North Sea Oil
Document Summary
Middle east: 3. 2. 4. 1 petro power playa: opec part 1. Opec organization of the petroleum exporting countries: established in baghdad, iraq in 1960, blue flag, headquarters in vienna, austria, original members: iran, iraq, kuwait, saudi arabia, venezuela, now: ecuador, algeria, nigeria, angola, libya, qatar, united arab emirates. Indonesia is not in opec anymore: primarily middle eastern countries. Monopoly: us is anti-monopoly, opec cartel is anti-monopoly. Opec members the state owns and controls the entire oil production process (the government) Western companies found oil: british protectorates: kuwait, uae, qatar, brand new states. 1948 biggest oil field in saudi arabia. Self-determination: opponent of us, politically and economically, let people determine what they want to do. Government is now getting lots of money from revenue: opens possibilities like buying oil companies. Nationalization of the oil industry: there is no date/time, o(cid:373)e (cid:272)ou(cid:374)tries had full (cid:272)o(cid:374)trol (cid:271)y (cid:1005)96(cid:1004), others at (cid:373)ajority (cid:272)o(cid:374)trols, others did(cid:374)"t get control till 80s and 90s.
