flash quiz #1 oil prices

flash quiz #1 oil prices - Demand for oil has been going...

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Demand for oil has been going down Global recession has effected demand Better technologies = better fuel usage Therefore the human race has been using less oil AT THE SAME TIME, the supply of oil has been increasing We’ve been finding a hell of a lot more oil Possible tons of oil off the coast of brazil Possible tons of oil off the coast of Australia Possible tons of oil on the artic sea Technological improvements, so you can get it cheaper, process it cheaper, and clean it up better Fracking, driven by the U.S North dokata is driving the U.S in fracking Middle eastern countries rely on oil for their income, such as iran, Russia, saudia aurabia Energy importing countries: china, all of Europe basically, japan, india,
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Unformatted text preview: United states biggest consumer of oil: 19 million barrels of oil consumed daily China is about 9 million daily Japan 4 ½ daily India 3 million daily ±he us produce and imports tons of oil ±he us bene²ts the most from cheap oil than any other country ±he countries that their main income is oil, it’s hur³ng their economy Russia, venesuala, iran ±he oil exporters are hurt very much as well (17:00 in minute) Saudia aurabia is the big deal, the anchor, of the oil expor³ng (iran is 2 nd ) ±hey are the cartel of oil, they own and control 45% of the worlds oil, and therefore they set the price Purposefully, saudia aurabia has set the price of oil lower...
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