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BLACK GOLD

BLACK GOLD. BLACK GOLD. Most countries in SW Asia have a one-resource economy based on petroleum (oil) ½ of all the proven oil reserves are located in this region. BLACK GOLD IN SAUDI ARABIA. Saudi Arabia has a 200 year proven RESERVE.

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BLACK GOLD

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  1. BLACK GOLD

  2. BLACK GOLD • Most countries in SW Asia have a one-resource economy based on petroleum (oil) • ½ of all the proven oil reserves are located in this region

  3. BLACK GOLD IN SAUDI ARABIA • SaudiArabia has a 200 year proven RESERVE. • The Saudi government could purchase all 32 NFL teams (player contracts, employee salaries, stadiums, etc.) with just six weeks of revenues from oil.

  4. BLACK GOLD IN SW ASIA • Kuwait • Had a proven reserve of 21 BILLION barrels until the 1st Gulf War • Iraq • Has a proven reserve of 7 BILLION barrels • Top 5 Oil Producers World-Wide: • SaudiArabia • Iraq • United Arab Emirates(U.A.E.) • Kuwait • Iran

  5. BLACK GOLD THROUGHOUT THE WORLD • Other countries around the world with proven oil reserves: • North America • Mexico • UnitedStates • Canada

  6. BLACK GOLD THROUGHOUT THE WORLD • Other countries around the world with proven oil reserves: • Central and South America • Venezuela

  7. BLACK GOLD THROUGHOUT THE WORLD • Other countries around the world with proven oil reserves: • Europe • UnitedKingdom • Russia • Norway • Denmark

  8. BLACK GOLD THROUGHOUT THE WORLD • Other countries around the world with proven oil reserves: • Africa • Libya • Nigeria • Algeria • Angola • Egypt • Congo • Gabon

  9. BLACK GOLD THROUGHOUT THE WORLD • What geographic pattern is evident about the location of oil reserves? ALL OIL IS FOUND NEAR BODIES OF WATER!!!

  10. BLACK GOLD THROUGHOUT THE WORLD • Industrialized nations around world WITHOUT proven oil reserves: • France • Germany • Japan • China • How might these nations w/o proven reserves affect oil prices around the world? (Hint: think supply vs. demand) • The large consumption of oil by these nations will drive up prices throughout the world.

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