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America is not part of OPEC (Organization of PetroleumExporting Countries) because we do not export oil - only a very small amount. Also, OPEC was created by and for the participating countries (majorly Middle East and third world) to guarantee that they would profit from America's use of oil - we are the biggest consumers of oil in the world.
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What Natural Resource does OPEC control the production price and distribution?
The acronym OPEC stands for the Organization of Petroleum Exporting Countries, hence, the specific natural resource with which OPEC is concerned is petroleum (also known as oil).
Who Invested in barrels and warehouses to store oil.?
The Organization of the Petroleum Exporting Countries or OPEC invested in barrels and warehouses to store oil. OPEC is a consortium of oil producing countries that control 40 per cent of the world's oil production.
The warmest part of the US will have temperatures in what range?
80s
What are the five oil importing countries to the us?
There are no absolute five, but most of our oil comes from OPEC. (Organization of Petroleum Exporting Countries) OPEC is made up of small middle-eastern countries that are small in size, and have few sources of external revenue other than oil. They export not only crude oil, but gasoline as well. It was OPEC in the 70s during Carter's term that made gasoline expensive. The US also gets oil from some of its own reserves, such as those in Texas, the West, Alaska, and some offshore drills in either the Gulf or off the coast of Alaska. The US government wishes to conserve US oil for as long as possible, however, and chooses to get most of its oil from outside sources. As of July 2005 the USA imports petroleum (including crude oil) from these top five exporting countries. (It also imports from 10 other countries, in smaller amounts) '''Country (Thousand Barrels per Day)''' * Canada (2,079) * Saudi Arabia (1,689) * Venezuela (1,623) * Mexico (1,593) * Nigeria (1,156) Source: www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html Uisge
How does OPEC stabilize the market price of oil?
It stabilizes the market price of oil by makings sure that it goes through when it convinces some one to buy it
What is OPEC what countries are a part of OPEC?
egypt (A+)
Why was the US vulnerable to OPEC?
The US is vulnerable to OPEC because of the oil import. There is about 40% oil in OPEC countries.
Is southwest Asia part of OPEC?
Not all Southwest Asian countries are part of OPEC but over half of OPEC's membership comes from Southwest Asia and a good number of Southwest Asian countries are OPEC members.
Is the UK part of OPEC?
No.
Is the Mexico part of OPEC?
No.
Is Puerto Rico part of the OPEC?
No.
Which country imports the most oil from OPEC?
According to AESC the US is the biggest OPEC customer.
When did Venezuela become part of OPEC?
In 1960
Is lybia a part of regional organization?
OPEC
Why should US citizens be interested in the actions of OPEC?
OPEC influences the price and availability of oil and gas.
How is OPEC dangerous to the US?
Oil embargo
Why did OPEC impose an embargo against the US?
All Arab nations that export oil are members of OPEC. When the US supported Israel in the Yom Kippur War (as to offset USSR's supplies to the Arab states) OPEC declared an oil embargo on the US..
