39 VIDEO NOTES ECONOMIC BLOCKS ETC Other economic entities etc Supernationalist

39 video notes economic blocks etc other economic

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3.9 VIDEO NOTES// ECONOMIC BLOCKS ETC Other economic entities etc Supernationalist organizations that have a variety of missions and goals with only one of them being economic AU and the SCO AU -African union (used to be the org of African unity) -not working -not the first time they’ve tried -Why have trade block not worked in Africa?? -they’re poor. People aren’t buying or consuming anything because they’re poor, so lowering tariffs via the trade block isn’t helping -Most exports/imports outside Africa. Most African stuff goes other places. They aren’t trading with each other SCO -is economically doing things right -shanghai corperation organization -used to be called (shanghai 6) -Russia and china are primary members -don’t know what their primary mission is because they don’t know what their primary mission is either -member states working together to encourage trade but of specific commodities (natural gas, oil)
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OPEC -a cartel -cartel is not a trade block -cartel shave nothing to do with trade What is a cartel? -a formal legal written agreement between competing businesses to control most of a resource -10 companies competing for copper. Instead they all get together and control all worlds copper to make more money -when businesses compete it lowers the price (undercutting) -Agree on policies, they fix the supply, they set the price and all charge the same thing to all make more money. -they aren’t about free trade, they’re just about one thing that they control to fix a price on -organization of petroleum exporting countries -who are the members? -Ecuador, Algeria, Angola, Iran, Iraq, Saudi Arabia, Libya, Nigeria, Venezuela, Kuwait, Qatar, UAE -OPEC countries nationalized their oil industries -own and control oil, oil industries, etc in their countries -iran govt isn’t in OPEC, the Iranian oil business is -Could the US ever join OPEC?? -nothing to do with niceness or liking each other -US could not join OPEC because the US doesn’t control oil industry -US could never export oil because we slurp all ours up and then get more. We are the biggest importer of oil -sets standard of where oil prices will be for the next 6 months to a year -OPEC controls 60% of worlds oil -Don’t agree on ANYTHING except oil -A lot of these coutnries don’t like each other that much -Indonesia bailed -fighting is between major players (Saudi Arabians- bigger oil reserves, ally of US and Europe) -Saudi Arabia—hey lets produce just enough oil and at low price with stable supply -Iran and Venezuela—hates US, were crackheads, addicted to oil, we should charge whatever we want because we own the majority and they’ll have to pay -a lot of people in US and other capitalist places hate OPEC -Saudis and others think its not that bad of a thing -if price were to go high enough (200-500 dollars) -countries could not pay -countries would look for alternatives (OPECS biggest fear) Major non-OPEC oil producers -Russia, Norway, Mexico
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OPEC Cont.
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  • Fall '08
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