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Essay heading: The Effects of Oil Prices on Our Nation's Economy
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Issue: Business
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Date added: April 10, 2007
No of pages / words: 14 / 3698
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Modern societies use it mainly to achieve a degree of mobility on land, at sea, and in the air. In addition, oil and its by-products are used in the manufacture of medicines and fertilizers, foodstuffs, plastics, building materials, paints, cloth, to generate electricity, and most importantly gasoline...
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OPEC was originally established in 1960 in response to a unilateral decision of oil companies to reduce prices of oil. The founding members of OPEC are: Iran, Iraq, Kuwait, Saudi Arabia, and Venezula. Today OPEC is made of Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela (Organization of Petroleum 1)...
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