The middle East Factoe 2 oIts got oil!oHas tons Black goldWorld cant get along with out it Conservatively – 50% of the worlds proven oil reservesOr 55-60-70%And production and sales and exports Persian golf- have oil Egypt, turkey, morocco- don’t have a lot Important player – worlds depends on oNot distributed between reigon A petro introLifeblood of world economy Energy Petrolem- naturally occurring, yellow-to- black liquid found in geological formations beneath the Earth’s surface oNon-renewable fossil fuel Natural gas and coal – other fossil fuels oRefined in to feuels 1:24oRefined Light, heavy, sweet(best), sour, Light- lighter in density- run freely Heavy- thicker like maple syrup Sweet- sulfur in it- clean of sulfer- Sour- higher sulfur Separated by distillation – different temps- elements come out Gasoline- Karoline – motoroil Jet fuel AsphaltPesticidesPlasticsCosmetics
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Saudi Arabia, Oil reserves, export earnings, barrels