What are OPEC’s three goals?
OPEC in a World Market
Suppose a large supply of a natural resource is discovered in Country X. This resource is needed by most other countries. However, these countries don’t have supplies of this resource. Should Country X keep the resource for its own use? Or should Country X share its supply by selling the resource to countries that need it? How should a fair price for the resource be determined? Who should set this price, Country X’s government or the private companies that invest in the resource?
Petroleum, commonly called crude oil, is a natural resource. Like coal and natural gas, it is a fossil fuel. Fossil fuels form from the remains of organisms that lived millions of years ago. They are non-renewable, which means that Earth’s supply is limited.
Petroleum is found in underground deposits. It is removed and processed in refineries. Many products are made from petroleum. Fuels such as jet fuel and gasoline power cars, trucks, and planes. Fuel oil is used for heating buildings and producing electricity. Roads are paved with asphalt, a petroleum product. Plastics and chemicals made from petroleum are used in everyday life.
Much of the world’s petroleum comes from the Middle East. Other large producers are Venezuela, Canada, Russia, and the United States. In 1960, Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela got together to discuss the role of petroleum production in a global marketplace. They founded a group to coordinate and combine petroleum policies.
The Organization of the Petroleum Exporting Countries (OPEC)
The group that these five countries started is called the Organization of the Petroleum Exporting Countries (OPEC). Since 1960, OPEC has played a role in controlling the global market for oil. As oil has become more important in world trade, OPEC’s role has become even more important. Today, the group has grown to 14 member countries. Each member has an equal vote in making decisions. Because Saudi Arabia exports more oil than any other member country, it serves as the informal group leader.OPEC has three main goals, although it has not been effective in achieving them. It wants to regulate an efficient and stable worldwide supply of petroleum. It wants to set prices that will provide a steady income for petroleum producers. And it wants to set fair profits for companies that invest money in the petroleum industry.
Regulating the Supply of Petroleum The global oil market has been affected by political events in many parts of the world. Uprisings and wars have disrupted the supply of oil. When supply is disrupted, prices rise. The economies of oil-producing countries soar. OPEC has stabilized the price of crude oil by regulating how much oil each country can produce. When production decreases, prices rise. When production increases, prices decrease.
Setting Fair Prices Demand, supply, and price are interconnected. If the global demand for oil is stable, OPEC regulates oil prices by controlling the supply. It assigns a quota to each member country. Each country is not allowed to produce more or less oil than its quota. Countries that are not OPEC members can produce and export as much or as little oil as they want. They can set their own prices according to demand. However, these non-member countries must compete with OPEC members if they want to export their oil.
Setting Profits for Investing Companies Each member country in OPEC needs a certain oil price in order to balance its budget. Thinking that the price of oil would remain high, many oil companies began huge oil projects in the early twenty-first century. They invested fortunes in developing new oil fields. But oil prices have not stayed high. Low prices have caused oil companies to delay or give up these projects. OPEC has tried to stabilize oil prices so that oil producers will invest in future production.The Future of Oil
In the past few years, there has been a movement to decrease humans’ reliance on oil. Some people fear that the world’s supply of crude oil is running low. Scientists are worried that burning oil pollutes the atmosphere and causes climate change. Alternative energy sources such as nuclear, solar, and wind power are being developed. Will the demand for oil decrease? Will decreasing demand cause the price of oil to drop? Or will OPEC countries decrease production to match demand, causing oil prices to rise? If demand for oil falls, can OPEC continue to exist? No one knows for sure the answers to these questions. We will have to wait to see what the future reveals.
Answer:
Explanation: The purpose of OPEC is to "coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the
Answer:
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Explanation:
What impact did World War I have on the Ottoman Empire
Answer:
After World War I, Ottoman Empire broke apart, with the Turks confined to Asia Minor (Turkey). Other European colonies broke away as well. The Ottoman Empire lost territories. German colonies in Africa and Asia became overrun by the Allies. They also turned to their own colonies and dominions for troops, laborers, and supplies.
Please help
Fill in the blank. Remember to spell correctly.
Both Canada and the United States have a _______ system of government.
Answer:
Canada and the United States are both democracies.
Explanation:
Answer:
Both Canada and the United States have a democratic system of government
Explanation:
Please help
What are the three prairie provinces in Canada?
Answer:
In Canada, the Great Plains lie in parts of the three Prairie Provinces—Manitoba, Saskatchewan, and Alberta—and portions of the Northwest Territories
The half-life of rubidium-87 is 48.8 billion years. What is the length of 6 half-lives?
Answer:
8.13 years
Explanation:
Plzz help ASAP and if you got it correctly I give you a Brainliest it 10 question
Answer:
1. federalist
2. Anti-federalist
3. federalist
4. federalist
5. Anti-federalist
6. federalist
7. federalist
8. Anti-federalist
9. federalist
10. Anti-federalist
Explanation: sorry if it wrong i tried i'm in school so if it's wrong tho.
After the Boston Tea Party the Quartering Act got a name change. It was now known as
a
The Sugar Act
b
The Intolerable Acts
c
The Redcoats Act
d
The Stamp Act
Answer:
B the intolerable acts
Explanation:
Civilizations are organized human communities. Most of the first civilizations, including the one in Mesopotamia, started around a body of water. Mesopotamia actually started near two ________.
Giving brainliest Photo below;
Which amendment of the Constitution bans cruel and unusual punishment?
A.
First Amendment
B.
Fourth Amendment
C.
Fifth Amendment
D.
Eighth Amendment
Answer: the answer is D. Hope you do well good luck! :B
Explanation:
The most important result of the Second Industrial Revolution was
depleting natural resources.
creating business empires.
turning the United States into a world economic power.
creating problems for labor, such as long hours.
The correct answer is (C) turning the United States into a world economic power.
What happened in Second Industrial Revolution?The Second Industrial Revolution was a period when advances in steel production, electricity, and petroleum caused a series of innovations that changed society. With the production of cost-effective steel, railroads were expanded and more industrial machines were built.
What is the Second Industrial Revolution and why did it happen?The Second Industrial Revolution began in the middle of the 19th century (1850-1970). It was a period of growth for pre-existing industries and expansion of new ones; such as the steel, oil, and electric fields.
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Answer:
answer is C
Explanation:
took the test
Short Answer
Please provide a brief response to the following question.
How do we know that the afterlife was important to the ancient Egyptians?
Answer:
The ancient Egyptians' attitude towards death was influenced by their belief in immortality. They regarded death as a temporary interruption, rather than the cessation of life. To ensure the continuity of life after death, people paid homage to the gods, both during and after their life on earth.
Explanation:
Can somebody answer these for me w /an explain your answer plz hurry
What did the Great Map cover? Why was it important? (Site 1)
What did Suleiman of Basra say about the porcelain of China? (Site 1) What was Marco Polo's response to paper money? How did he react? (Site 2)
I know im late but here the answer:
Q-What did the Great Map cover? Why was it important? (Site 1)
Answer- Their great map covered the areas in which there was land but it wasn't divided yet into states and such. This was important because if you where a traveling, you would (must) have a map or something to navigate with.
Q-What did Suleiman of Basra say about the porcelain of China? (Site 1)
Answer- Chinese have pottery which was in good quality, these where bowls made for fine glass drinking cups. The sparkle of water can be seen through it, even though it's pottery
Q-What was Marco Polo's response to paper money? How did he react? (Site 2)
Answer- I think he wasn't used to it because all he was accustomed to was using gold.
Hope this helps!
right on EDGE 2021 for social studies
How did the nearby deserts and mountains affect life in ancient China?
Answer:
Nearby deserts and mountains affected life in ancient China by protecting them from nomad invaders and people who came to attack China.
Explanation:
It was not until the Silk road that China went around the mountains and threw the deserts to trade with other peaceful nations.
Answer:
o the north and west of Ancient China were two of the world's largest deserts: the Gobi Desert and the Taklamakan Desert. These deserts also provided borders that kept the Chinese isolated from the rest of the world. ... This is why the Great Wall of China was built to protect the Chinese from these northern invaders.
Explanation:
a. The group made a grave mistake in not turning back in Missouri.
Selected:b. The group really could have traveled by river all the way to the west coast.This answer is incorrect.
c. The group would have been better off traveling by horseback the entire journey.
d. The group most definitely needed a guide to find the easiest route through the mountains.
Answer:
d. The group most definitely needed a guide to find the easiest route through the mountains.
if it is correct then:
pls mark me brainliest
Answer:
think b
Explanation:
Please someone from Michigan answer all 23 of these.
Answer:
mississippi
Explanation:
Answer:
the michigan?
Explanation:
When Great Britain took over South Africa, which African group fought the expansion of the Dutch settlers north?
Answer:
The Zulu group
Explanation:
Answer:
The Netherlands (Dutch settlers).
Hope this helps
Explanation:
Kyle writes an essay about indentured servants in the 1800s:
Unlike the colonial era, indentured servants in the 1800s were mostly born in the United States. Many indentured servants were young people who hoped to gain a better life after a period of work. They committed themselves to a master for a period of several years. The master usually paid some of their expenses and was required to free them at the end of their contract period.
Which statement corrects a mistake in Kyle's essay?
A. Indentured servants in the early 1800s were usually immigrants.
B. Most indentured servants were older people who had fallen on hard times.
C. Indentured servants had the right to stop working whenever they wished.
D. Masters rarely freed indentured servants at the end of a contract.
The use of a currency exchange system would be MOST beneficial in which of the following situations? (AKS47c)(DOK 2)
A.
A restaurant in Turkey starts buying more locally-grown products in order to support local farmers.
B.
A business in Yemen applies for government funding because it offers a service that benefits all citizens.
C.
The government of Egypt wants to improve wages in the country in order to raise the standard of living.
D.
The government of Saudi Arabia wishes to earn money by selling its crude oil to refineries in other countries.
Answer: A
Explanation: most likely A because it makes the most sense.
If Donald Trump is 74 and his wife is 50 and his son Barron Trump is 14 how old was Melanie when She had him and how old was trump when Barron was born.
plz, help. even if u don't like him
Answer:
Trump was 60 when Barron was born and Melanie was 36 when Barron was born.
Explanation:
74-14=60
50-14=36
Story eleven
Here is the beginning:
What they don’t understand about birthdays and what
they never tell you is that when you’re eleven, you’re
also ten, and nine, and eight, and seven, and six, and five,
and four, and three, and two, and one. And when you wake up
on your eleventh birthday you expect to feel eleven, but you
don’t. You open your eyes and everything’s just like yesterday,
only it’s today. And you don’t feel eleven at all. You feel like
you’re still ten. And you are—underneath the year that makes
you eleven.
Like some days you might say something stupid, and
that’s the part of you that’s still ten. Or maybe some days you
might need to sit on your mama’s lap because you’re scared,
Question:
Lines 10–11: Describe the language in these lines. Why might the author have chosen this kind of language?
"Like some days you might say something stupid, and
that’s the part of you that’s still ten. Or maybe some days you"
Which of the following is true about Bindusara’s birth?
He never knew who his father was.
His mother was poisoned and died before she gave birth.
He was born to a peasant woman.
His father’s advisor tried to assassinate him as he was being born.
Answer:
His mother was poisoned and died before she gave birth.
Explanation:
Joseph got a new book. He read THE BOOK to his little brother.
Which of the following pronouns would best replace the bold words?
a
He
b
It
c
Them
d
They
Answer:
B: he read it to his little brother
Explanation:
all of the other ones dont really make sense
Match each scenario with its related economic question.
It’s cheaper to manufacture cars in Asia
due to lower labor and raw material costs.
Most working adults in urban areas
are interested in purchasing new cars.
There is more demand for sedans and
station wagons than hatchback cars.
What products should we make?
arrowRight
How should we produce them?
arrowRight
Who should receive the goods and services?
arrowRight
Answer:
This answer will be in the picture I took the test and I got it right.
Explanation:
Match each scenario with its related economic question.
What products should we make?
There is more demand for sedans and station wagons than hatchback cars.
How should we produce them?
It’s cheaper to manufacture cars in Asia due to lower labor and raw material costs.
Who should receive the goods and services?
Most working adults in urban areas are interested in purchasing new cars.
What is production?Production is the whole process from giving inputs till the end result of output. It can also be defined as making or manufacturing goods and products from raw materials or components.
The producer produces the goods to fulfill the demands of the consumer. The aim of the production of goods or services is to minimize the cost of production by producing the goods efficiently.
In economics, a business which produces goods are known as “producers” and these companies are taking the inputs available to them (both material and immaterial) to produce products which the consumer will want to buy.
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Religion is an important part of human life. Describe how someone following one of the five paths in the lesson might incorporate his/her faith into their daily life.
I NEED HELP QUICK, I WILL MARK YOU THE BRAINLIEST:
True or false: Immigrants entered indentured servitude contracts of their own free will, as opposed to slaves, who did not have a choice in the matter
Answer:
true =)
Explanation:
In his lawsuit, Brown claimed that schools for black children were not equal to the white schools and black children could never go to a white school. His win in the Supreme Court overturned what doctrine?
1. Miranda vs. Arizona doctrine that detained suspects, must be informed of their constitutional right
2. Endo vs. United States doctrine that relocation was unconstitutional
3. Brown vs. Board of Education doctrine that schools must be integrated ,
4. Plessy vs. Ferguson doctrine of Separate but Equal
Answer:
3
Explanation:
brainliest
The Senate and House of Representatives make up the legislative branch of the U.S. government. In a few sentences, explain the key differences between the House of Representatives and the Senate.
Answer:
members of the House are elected every two years, whereas senators are elected for six-year terms. ... Senators are at least thirty years old and citizens for nine years. Another difference is who they represent. Senators represent their entire states, but members of the House represent individual districts.
A Senator represents his or her state for a six-year term. A Representative, on the other hand, serves for a two-year term. Age and citizenship requirements are different for Senators and Representatives.
pls mark me brainlest
Answer:
Senators are chosen for six-year terms, whilst House members are chosen for two-year terms. Senators have been citizens for nine years and are at least thirty years old. Who they stand for is another distinction. Members of the House represent particular districts, whereas senators represent their entire states.
A senator serves a six-year term as the state's representative. On the other hand, a Representative has a two-year term. Representatives and Senators must have various age and citizenship requirements.
Explanation:
No state was to keep ___ or ___ of war in time of peace.
Answer:
No state was to keep Troops or Ships of war in time of peace.
Answer:
troops or ships
Explanation:
lesson
The Civil Liberties Act awarded $20,000 to each Japanese American that was forced into internment camps. True or False
Answer:
True
Explanation:
The act granted each surviving internee US$20,000 in compensation, equivalent to $38,000 in 2019.