Petroleum Exporting
With the cost of fuel these days the issue of petroleum exporting has become one full of controversy. People all over the world are paying more for fuel per gallon but the question is who is getting rich off of this increase in price? The individuals operating the gas stations around the Nation claim they are only making a few cents per gallon from the gasoline they sell.
The Organization of the Petroleum Exporting Countries (OPEC) is an international entity that represents the many different countries that export petroleum. The goal of the organization is to help stabilize the prices of petroleum so that they cost for consumers doesn’t change dramatically from one day to the next. However the cost of petroleum has continually been on the rise for some time in the past couple of years.
OPEC is also responsible for ensuring each country gets a fair share of the petroleum they need for their Nation to thrive. They quality of the petroleum is monitored by OPEC as well. OPEC has been in place since 1965 and for the most part they seem to do a good job of keeping up with the demand for petroleum exports around the world.
However many think OPEC has too much influence and control over the supply and the pricing of petroleum. That has many people feeling uneasy about the future of having a good supply of petroleum. Since most economic Nations depend on petroleum that would create quite a disruption.
The amount of control OPEC currently has is much less than it did 25 years ago. In 1973 OPEC initiated an oil embargo causing fuel prices to skyrocket. People everywhere were lining up for miles to get the fuel they needed in their cars. Many places rationed the amount that they could purchase. As a result many vehicle manufacturers started introducing small cars that were more fuel efficient.
The withholding of petroleum is a dark cloud that hangs over most countries that rely on such exports though. Many countries including the United States are looking into alternate fuel methods in the event that they can’t rely on these exports in the future. Hybrid vehicles are being more popular than ever as is solar power.
