Admisions
Submitted by freefortermpapers on 06/24/2008 03:00 PM
- Category: Speeches
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Admisions
I am what ever I say I am in the paper the news every day I am. To understand why oil and OPEC has such a great impact on world affairs you have to realize that oil is the only source of petroleum, which is converted into gasoline. Thus no oil, no gasoline, and when you stop and think you can see how any nation could be brought to it's knees with out it, as transportation revolves around it, production thrives on it, and the means of waging war is driven by it, thus if it is gone the nation seizes up. OPEC plays into all this because it is the Organization of Petroleum Exporting Countries and thus has it's hand on the pulse of the world export of oil. This organization was created when the governments of Saudi Arabia and Venezuela, in accordance with the objectives of the Arab Petroleum Congress of 1959 issued a declaration on May 13, 1960 which recommended that petroleum exporting countries pursue a common policy in order to protect their rightful interests. But the countries concerned did not take immediate action, it was the sudden decrease in petroleum prices for the second time in 1960 that made them feel the danger which encouraged them to band together. Shortly after this the major petroleum producing countries founded, after what is now known as the Baghdad Conference, (at which Saudi Arabia, Iraq, Iran, Venezuela and Kuwait were represented) the organization now known as OPEC, this all occurred in 1960. Some of the base actions of OPEC were decided at that conference, they included it's cardinal objective which was to be the standardization of petroleum prices among its members and agreement on the best methods of protecting its individual and collective interests.
Following the 60's the Arab president, Gamal Abdel Nasser died and his successor Anwar el-Sadat led Arab forces in a war against Israel. Israeli forces appeared to be on the run after the heavy surprise attacks on the Jewish holiday Yam Kipper and the Muslim month of Ramadan. But the...
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