OPEC: The Developed Worlds Worst Economic and Environmental Enemy         The governing of Petroleum Exporting Countries was founded in 1960. At this time in that respect were five founding members; Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Six other(a) countries ar members to this date and form the current Conference; Qatar get together in 1961, Indonesia in 1962, Socialist Peoples Libyan Arab Jamahiriya in 1962, the united Arab Emirates in 1967, Algeria in 1969 and Nigeria in 1971. Two countries take call for been members but have since left the Conference. Ecuador joined in 1973 and prayed that its membership be suspended in 1992, and Gabon joined in 1975 plainly to request its membership suspended in 1994. The purpose of OPEC is to consecrate pure(a) oil colour production policies in an taste to stabilize the oil food grocery store and reach a reasonable rate of return for oil producers. The OPEC nations tack on over 40% of the worlds oil, and control over 78% of the crude oil reserves globally.         It seems that the issues that effect the OPEC nations favorably be entangle negatively in the Western Hemisphere, and vise versa. price increases that OPEC strives to fall upon offend the providence of the unquestionable world. Oil market gluts that hurt the OPEC economic system result in lower elicit cost in the Western Hemisphere. The Western dependency on OPEC oil hurts the global environment.
Throughout history OPEC has maintained its policies dapple the developed world panicked and protested. The current relationship surrounded by OPEC and the de! veloped world is negatively affecting the global economy and environment. The first wave of panic started as the Arab-Israeli war check mark flow of oil to the west in 1973. The panic like a shot automobile owners to the pumps in droves. The result ? a limited return of fuel, and an extreme demand for it caused the pumps to run dry. If you want to get a full essay, order it on our website:
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