March 10th 2008

March 10th 2008 - March 10th 2008 OPEC has had a lot of...

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March 10 th 2008 OPEC has had a lot of trouble since 1960 to get its members to abide by set quotas; it does not necessarily control the price of oil, but it has a definite effect. Not all oil producing countries are members of OPEC (Mexico, Canada, and USA). There will be Blood- Movie, loosely based on the novel “Oil”; movie claims that oil is an evil which exploits the earth. Vision associated with oil- you find oil you can go from rags to riches; a whole nation can transform itself from poverty to wealth. Yet because of that promise, this also meant that a lot of people are going to war for it and kill each other for it- result and some serious problems. A lot of countries where transferred in a matter of years, sometimes only a decade, from poverty to riches (i.e. Saudi Arabia, United Arab Emirates, Kuwait). After WWII, so many countries recently gained independence from colonial powers; this made them believe that they also would gain control over their own resources improve the quality of life for people living in the country. For those countries that had oil, it seemed like a great opportunity, but it didn’t work out for all companies. Mexico- gained its independence in the early 19 th century. But it was still fighting in the 20 th century to assert its independence over its own resources. Oil was first discovered in the 1900’s in the Vera Cruz province on the east coast. In 1901, Mexico produced 10,000 barrels of oil. By 1920 it was producing 157 million barrels of oil. In these 2 decades, there was an oil boom in Mexico. It began as an ecological disaster for the area; there were no environmental regulations, foreign oil companies leased land from the ranchers who owned the area around them. In 1908, one of the wells burns for 60 days straight,
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March 10th 2008 - March 10th 2008 OPEC has had a lot of...

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