AIM: How has the importance of petroleum played a role in the recent history of the Middle East?

1
AIM How has the importance of petroleum played a
role in the recent history of the Middle East? Do
Now Gas prices have nearly doubled since 2003.
It is currently at 3.25 per gallon. If the
pattern continues, how much will a gallon of gas
cost when you get your drivers license in
2011? Minimum wage was 5.15 an hour in 2003. It
is currently 5.85 and hour. If this pattern
continues how much will minimum wage be in 2011?
HW Research the alternative energy sources
(solar, wind, ethanol, bio-diesel). Explain
the pros and cons of each.
2

• Petroleum Politics
• OPEC Organization of the Petroleum Exporting
  Countries
• Created in 1960.
• Very important in the 1970s.
• Headquarters in Vienna, Austria.
• Goal
• Coordinate petroleum policies prices
• Protect members interests by providing steady
  income to member countries.
• Persian Gulf War (1990)
• Saddam Hussein invades Kuwait.
• Wanted its oil.
• United States forms a coalition against Iraq.
• Combat lasted 5 weeks.
• Iraq agreed to a cease-fire.

3
OPEC
4
(No Transcript)
5
(No Transcript)
6
Saddam Hussein
Gen. Norman Schwarzkopf
7
(No Transcript)
8

• World Oil Reserves in Billions of Barrels
• Saudi Arabia 265.3
• Iraq 115
• Kuwait 98.8
• Iran 96.4
• United Arab Emirates 62.8
• Russia 54.3
• Venezuela 47.6
• China 30.6
• Libya 30
• Mexico 26.9
• Nigeria 24.1
• United States 22
• Algeria 12.7
• Norway 10.1
• Indonesia 9.7
• Angola 9
• Brazil 8.5