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Oil Discovered in Iran
Oil Discovery Spreading Across Middle East(1:48-3:03)Oil Discovered (3:37-4:35)
Oil was discovered in Persia by the Anglo-Persian oil company. (Bird & Brown, 2005) This was a monumental event that spiraled toward oil being discovered all across the Middle East. At the time no one knew how oil and gas would effect the Middle East or the rest of the world. Discovery of oil in 1908 in Iran was a turning point in the future of the Middle East. -
WWI Ends and the Middle East Becomes the World's Supplier
Movie About How US Got Involved In ME Oil Oil Pipeline is Built (8:30-43:08) The United States decided to enter the oil game in the Middle East. The British government allowed the United States to begin drilling in Iraq and other countries near the Persian Gulf.(Juhasz, 2007) The US relies on this oil and our economy rests on it today. -
The Ottoman Empire is Defeated
Ottoman Empire's Influence Over TimeOttoman Empire is Defeated and Land is DividedThe Ottoman Empire was defeated by Britain and France. The Middle East was split between Britain and France. (Tucker, 2005) Britain gained control of the resources in the Middle East. As time passed Middle Eastern countries began to rule themselves, but even today Britain has a lot of influence on the oil industry and especially what foreign gas companies are allowed to obtain from Middle Eastern regions. -
The Need for Oil Increases
Oil Around Time of WWII and Communism(30:00-35:16)Rationing in WWIIAfter WWII, the need for oil drastically and quickly increased because oil rationings stopped. Until then the Middle East was only producing about 5% of the world’s oil. (Juhasz, 2007) American companies going into the oil industry in the Middle East made the industry what it is today. -
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Oil Exports Fluxuate
Arab Oil Worker PictureEffect of US Market on ME Oil(11:30-13:46)The per capita oil exports of the Middle East went from $270-$2,042. Because after this happened the Middle East did not expand into other industries it became fully oil dependent. (Bird & Brown, 2005) It’s oil dependence meant if the price of oil went down so did their source of income. The huge increase in oil revenues also meant that the gap between rich and poor greatly increased causing poor education, health care, and widespread shortages. -
OPEC is Formed: Continued
The movement toward nationalism that was brought to the attention of the countries now associated with OPEC was to protect the oil resources and how the country gained revenue from them with foreign companies having so much control. OPEC is still a monumental part of regulating oil and making sure it is fair for all those involved today. -
OPEC is formed
How OPEC Affects World Now OPEC Meeting (13:00-15:09) At a conference between countries dependent upon oil from September 10th-14th, 1960, OPEC or Organization of the Petroleum Exporting Countries was created. These countries were moving toward nationalism in the oil industry. (Bird & Brown, 2005) -
Middle East Cut Off Oil Exports
OPEC Oil EmbargoMiddle East cuts off Oil Trade with US (0:00-9:12) The Middle East cut off all oil exports to Western countries because they were upset with their involvement in the Israeli-Palestinian conflict. ("Middle east oil," 2004) This came at a time when the United States was relying very heavily on Middle Eastern oil and gas to power the country. Large price hikes in oil, shortages, and panic in the world trade market affected the entire country. -
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OPEC Protects Oil Industry from Persian Gulf War
Gulf War Oil PictureGulf War and OilOPEC's Influence in Oil after War (2:14-2:26)OPEC reduced the impact the Persian Gulf War caused on the oil market. The Persian Gulf War involved many countries with oil dependent economies, but specifically Iraq and Kuwait. Iraq accused Kuwait of drilling Iraqi oil through an underground pipeline, but the UN, led by the United States, fought Iraq to give Kuwait its freedom. ("Chronology of the," 1997) OPEC reduced the impact of this war on the countries involved and the oil market by stabilizing the supply of oil -
Iraq Hydrocarbon Law is Brought to Irawi Parliament
The Iraqi oil reserves are some of the most plentiful and profitable oil reserves in the world and because of the nationalism the Iraqi government wishes to have over one of their greatest resources it is practically untouched by foreign companies. -
Iraq Hydrocarbon Law is Brought to Iraqi Parliament
View of Iraqi Ambassador on LawView Against Hydrocarbon LawIraq Hydrocarbon Law was given to the Iraqi parliament. The goal of this law is to allow foreign Oil companies such as Chevron or BP to gain access and make profit off of Iraqi oil reserves. The Hydrocarbon Law has still yet to be denied or confirmed, but some production share agreements or PSAs have been created with more local Iraqi companies. (Juhasz, 2007) -
Efficient Solar Panels Created
How Solar Panels Can Change the WorldIntroduction of Efficient Solar PanelSunPower, the world’s largest solar energy company, created a solar panel with a record breaking efficiency of 24.2%. ("Sunpower history," 2012) This is a huge landmark for the world relying less on oil and fossil fuels and more on the energy that is most readily available in all places around the world. Solar energy is the least harmful form of energy to the environment because it does not require the danger of burning fuels, nuclear fission, or creating dams. -
Arab Spring Begins
How Arab Spring Will Change OilHow Uprisings Affect OilThe Arab Spring is a series of protests in the Middle Easts aimed at gaining freedom and democracy in countries where tyrants and dictators rule. This Arab Spring has caused spikes in oil and gas prices due to the fact that the United States so greatly depends on so many of these unstable countries for oil. (Hayes, 2011) The countries involved in the Arab Revolutions have a lot of influence on the amount and cost of oil as well as gas all around the world because we are so dependent upon them.
