Table of Contents Primary Sources Books…………………………………………………………………..….…..Page 1-3 Government Documents…………………………………………..…………Page 4 Interviews………………………………………………………………………..Page 5 Journal Articles……………………………………………………………...Page 6-7 Newspaper Articles……………………………………………………...…….Page 8 Videos……………………………………………….……………………………Page 9 Websites………………………………………………………….……..….….Page 10
Secondary Sources Books……………………………………………………..………………..Page 11-14 Encyclopedias………………………………………………………...………Page 15 Interviews…………………………………………………………………..….Page 16 Videos…………………………………………………………………………...Page 17 Websites………………………………………………………………………..Page 18
Bibliography Primary Books Alnasrawi, Abbas. OPEC in a Changing World Economy. Baltimore: Johns Hopkins UP, 1985. Print. Prior to the drastic change in the position of OPEC-member countries in relation to the rest of the world in 1973, it was taken for granted that each OPEC-member country was a developing country. As the records show, OPEC-member countries in 1970 had a combined population of 258 million and a combined GNP of $58 billion, resulting in an average per-capita income of $223.
Economides, Michael J. The Color of Oil: the History, the Money and the Politics of the World’s Biggest Business. Katy, Texas: Round Oak Publishing Company, 2000. Print. This book teaches the significance of oil and the factors that allow countries to produce oil. Currently, OPEC (Organization of Petroleum Exporting Countries) consists of twelve countries, but most of them have very little in common. There are problems of corruption among the countries and their governments, including mismanagement and the squandering of the petroleum wealth. While oil can sometimes help a country prosper by aiding it financially, it can also wreak havoc because of the problems it causes. Oil, like money, can change not only individuals, but also entire countries.
Freeman, David S. Winning Our Energy Independence: An Energy Insider Shows How. Layton, Utah: Gibbs Smith Publishers, 2007. Print. This book helps me understand how OPEC controls oil prices. If the world ever wants to become independent on its source of energy, countries will have to either start producing their own oil or find alternative methods for fuel. In order to start producing alternative methods of energy, it will take many years of planning and labor, as well as advanced technology. To produce all the technology involved with alternative energy, oil will need to be used for transporting materials and building the parts. The world is very dependent on oil and will remain that way for a long time.
Heinberg, Richard. The Party’s Over: Oil, War and the Fate of Industrial Societies. New York: New Society Publishers, 2003. Print. The title “The Party’s Over....” refers to how the world is about to run out of easily-accessible oil and the change that will transform the world because the supply of oil will plummet rapidly. It is our job to take action before it is too late and the problem gets out of control. We need to start finding alternative energies that can not only replace oil temporarily, but be a permanent solution after the depletion of oil. I have learned that oil is a nonrenewable resource, meaning we will soon have to limit our use of oil or find an alternative source of energy. I used many charts and graphs from this book for my website.
Maugeri, Leonardo. The Age of Oil The Mythology, History, and Future of the World's Most Controversial Resource. New York: Praeger, 2006. Print. While researching OPEC, I was required to familiarize myself with many acronyms relating to OPEC and oil. Some acronyms included TRC (Texas Railroad Commission), UAE (United Arab Emirates), OOP (Original Oil in Place), and many more. Without this book, it would have been hard to comprehend many things in my research.
Vernon, Raymond. The Oil Crisis. New York: W W Norton & Co Ltd, 1980. Print. A big part in the history of oil has been the oil crises that have taken place throughout time as the demand of oil has increased. As more and more countries increase their use of oil, the demand for oil jumps to a record high. This book gives many of the examples of times when OPEC countries placed an oil embargo on other high oil-demanding countries such as the United States and The Netherlands. Oil embargos were placed on those countries because of their support of Israel in the ArabIsraeli War.
Government Documents Iran, Libya, Saudi Arabia, Venezuela. United Nations. UN Resolution No.6363. 1962. Print. Two years after the 1st OPEC Conference in Baghdad, the United Nations recognized OPEC as an organization. Part of OPEC at that time was Iran, Libya, Saudi Arabia, Venezuela and Kuwait. This document settled an agreement among the countries to work together and set oil prices. I used this document on my website.
Algeria. OPEC. Conference of Sovereigns and Heads of State of OPEC Member Countries. Algiers, 1975. Print. This document was important because it allowed other nations to join OPEC. In this document, OPEC invited Algeria to join OPEC. I used this document on my website.
Interviews Orr, Franklin M. Telephone Interview. 6 November, 2009. Interview. This interview helped me understand the true reason behind the formation of OPEC. Mr. Orr is a Professor of Petroleum Engineering at Stanford University. When I asked Mr. Orr about what he thought led to the creation of OPEC, Mr. Orr stated, “Well, I think, the OPEC creation, for sure, was dissatisfaction on the part of the oil-producing companies, I mean countries, with the price they were being paid for by the oil industry and they thought they could get better leverage if they negotiated as a group about the price of oil with the industry.” The interview not only helped me realize the motivation behind the creation of OPEC, but also that OPEC was an innovation due to the fact that it revolutionized the way countries controlled the prices of oil. Simmons, Matt. Telephone Interview. 20 November 2009. Interview. Mr. Simmons is the Founder and Managing Director of Simmons & Co. Energy as well as the Energy Investment Analyst Advisor to Former U.S. President George W. Bush. Mr. Simmons is also believed to be one of the world’s leading experts on the topic of peak oil. He has also been interviewed in many documentaries about oil. Mr. Simmons gave me some great facts such as, “The producing nations that make up OPEC have had a profound impact on our oil supply because if it hadn’t been for the OPEC countries having the ability to produce the oil that they’ve been able to do in the forty years since OPEC was created, we would’ve had an oil shock second to none years ago.” This statement helped me realize that oil has had a great impact on the entire world. Other facts that Mr. Simmons stated helped me understand how OPEC may disappear in the years to come due to the depletion of the supply of oil, which would be a big change for the world.
Journal Articles OPEC. Explanatory Memoranda on OPEC Resolutions. Vienna: OPEC, 1962. This article was published the same year that the UN recognized the formation of OPEC. OPEC published this article to inform people of the reasons it formed OPEC. One reason was that it wanted to set oil prices and did not want to face the MOIP that President Eisenhower had implemented. MOIP was an program started by President Eisenhower in 1959 trying to force all oil producing countries for an oil quota.
OPEC. OPEC and the Principles of Negotiations. Vienna: OPEC, 1962. When OPEC was first formed in 1960, five countries came together to control oil prices. Many policies and negotiations had to be settled in order for OPEC to become successful. After couple years of negotiating and setting guidelines, OPEC published a journal that listed negotiations and policies amongst the OPEC countries of that time.
OPEC. Selected Documents of the International Petroleum Industry, 1971. Vienna: OPEC, 1973. During the 32nd OPEC Conference, many documents were published that settled the locations of future OPEC conferences to discuss OPEC matters. A document titled “Conference of Sovereigns and Heads of State of OPEC Member Countries� helped acquire Algeria into OPEC.
OPEC. Selected Documents of the International Petroleum Industry, 1972. Vienna: OPEC, 1973. OPEC helped many developing countries transform their oil exporting potential. Many countries in Africa had the opportunity to join OPEC and improve their economy as well as maintain their natural resources through OPEC and its help.
OPEC. Selected Documents of the International Petroleum Industry, 1973. Vienna: OPEC, 1973. OPEC greatly affected the oil market in 1973 because of the oil embargos that Middle Eastern countries placed on countries that supported Israel in the Six Day War. Many European nations were affected by the 1973 Oil Crisis, as well as Japan.
Newspaper Articles Smith, William D. "Price Quadruples for Iranian Crude Oil at Auction." New York Times 12 Dec. 1973. Print. A big reason for the formation of OPEC was because the oil-producing companies felt that they were treated unfairly when it came to the prices of oil that Western nations were paying. In this article, The Shah of Iran said, "Of course (the world price of oil) is going to rise. Certainly! And how...; You (Western nations) increased the price of wheat you sell us by 300% and the same for sugar and cement...; You buy our crude oil and sell it back to us, refined as petrochemicals, at a hundred times the price you've paid to us...; It's only fair that, from now on, you should pay more for oil. Let's say ten times more." I used this article on my website.
Videos Chancellor, John. NBC Nightly News. NBC. 17 Oct. 1973. Television. This video talked about how OPEC nations would set an embargo on countries that supported Israel. This was a national news broadcast during the 1973 Oil Crisis on NBC. I used this video on my website.
Websites Organization of the Petroleum Exporting Countries. Web. 6 Oct. 2009. While first researching OPEC and using search engines for research, I found OPEC’s official website which contained a lot of great information. There were many journal articles with rare pictures of OPEC that were useful for my website. I obtained an interactive map of oil production and used it for my website.
Secondary Books Ahrari, Mohammed E. OPEC: The Failing Giant. Lexington, KY: University of Kentucky, 1986. Print. In this book, the author states that the reason for the formation of OPEC in 1960 was the desire of oil-producing states for greater income from their most valuable resource, oil. The international oil corporations had secured profitable concessions of oil early in this century, and in the 1960’s still dictated both the terms of production and the prices paid by oil states. Soon after in the early 1970’s, OPEC members succeeded not only in manipulating the prices of crude oil, but in reducing the status of the oil corporations to that of mere managers of upstream operations.
Amuzegar, Jahangir. Managing The Oil Wealth: OPEC's Windfalls and Pitfalls. London: I.B. Tauris, 2001. Print. This book shows how OPEC has managed to survive through time even though it has faced many challenges that threatened its existence. Of the world’s major cartels, none have proved as active and enduring as OPEC, in spite of highly improbable odds. Initially. OPEC faced a strong resistance from major oil companies who controlled global oil supplies and trade; it also encountered open hostility from powerful oilconsuming governments, and it was only half-heartedly supported by other developing countries which envied its wealth and clout. Yet in spite of the rather unique composition of its members, the organization prospered and survived.
Blair, John Malcolm. The Control of Oil. New York: Vintage Books, 1978. Print. This book shows how the price of crude oil is determined by giant petroleum companies (the seven sisters) and a dozen members of OPEC. After tracing the history of these controls, it has shown that the controllers of oil recklessly triggered the 1970's global energy crisis.
Learsy, Raymond J. Over a Barrel: Breaking The Middle East Oil Cartel. Nashville, Tenn: Nelson Current, 2005. Print. Throughout this book, a sense of biasness is shown against OPEC. Learsy’s indictment of OPEC is like a recovery program for ending America’s addiction to Middle East oil. The author also ‘shatters’ the economic myths that perpetuate America’s dependence, and says how the ‘oil curse’ undermines Arab stability and American security, giving ways for America to kick the habit. This is one of the many books that blame OPEC for the higher costs of oil and support countries that want to control oil.
Mattione, Richard P. OPEC’s Investments and The International Financial System. Washington D.C: The Brookings Institution, 1985. Print. This book shows how OPEC continues to exist even though it is faced with many obstacles. OPEC invests its wealth wisely and continues to exist. Each member of OPEC has a committee of people who strategize on finding new ways of increasing the oil price so that their revenues will become higher. This helps OPEC continue to gain wealth as well as produce less oil.
Roberts, Paul. The End of Oil: On the Edge of Perilous New World. Boston: Houghton Mifflin, 2005. Print. Before reading this book, I had many questions regarding the future of oil. This book answered many of my questions such as how will the world ever survive without oil and when will the supply of oil in the world be depleted? It is predicted that within thirty years, by even conservative estimates, we will have burned our way through most of the oil that is easily accessible. Well before then, the side effects of an oil-based society -- economic volatility, geopolitical conflict, and the climate-changing impact of hydrocarbon pollution -- will render fossil fuels as an unacceptable solution. Our only hope of survival is to plan and develop alternative methods of energy for the future that will meet the energy needs of future generations.
Skeet, Ian. OPEC Twenty-Five Years of Prices and Politics. New York: Cambridge UP, 1991. Print. Many tables and charts of oil consumption and production are provided in this book which are really helpful as visuals for my website. This book also provides great statistics of OPEC which show patterns in oil consumption and production as well as success and wealth levels of each country. This book also focuses on the prices of oil and how they have changed over time.
Terzian, Pierre. OPEC, The Inside Story. London: Zed Books, Distributor, Biblio Distribution Center, 1985. Print. This book is like an encyclopedia of OPEC. It gives every detail about the history of OPEC from its foundation to its present day influence on the world. During the 1950’s, Venezuela was amongst the top exporters of crude oil, but soon after, Middle Eastern countries started to produce oil, and Venezuela couldn’t compete against them. A Venezuelan man named Juan Pablo Perez Alfonzo thought of an idea that would not only benefit Venezuela, but also Middle Eastern oil-exporting countries. He wanted to have an agreement with the Middle Eastern countries to control the price and production of oil so that each country could earn more revenue from oil production. I used this book for my website.
Yergin, Daniel. The Prize: The Epic Quest for Oil, Money and Power. New York: Simon & Schuster, 1991. Print. Ever since the potential of oil was discovered, it has been a very demanding resource. Many countries have tried to produce oil and export it, including the countries of OPEC. Crude oil is hydrocarbon and raw material for the whole objects we usually use including shoes, combs, shirts, trousers, pullovers, stockings, glasses, bottles, dissolvents, paints, glues, pens, erasers, wheels, shopping bags, medicines, and many more necessary everyday items.
Zacharias, Andrew Paul. Shuck the Sheiks: Replacing Bloody Middle Eastern Oil with Clean Domestic Ethanol. Lincoln: iUniverse Inc, 2005. Print. In this book, the author expresses his biased opinion on how America has become dependent on Middle Eastern oil, referring to OPEC. He believes that America should start focusing on alternative sources of energy that would free America of the dependency on energy. This is one of many books that oppose energy dependence on OPEC.
Encyclopedias Zycher, Benjamin. "OPEC." The Concise Encyclopedia of Economics. 2nd ed. Liberty Fund, 2008. Print. This encyclopedia was very helpful because obtaining information on MOIP was difficult. “In 1959, the U.S. government established the Mandatory Oil Import Quota program (MOIP), which restricted the amount of imported crude oil and refined products allowed into the United States and gave preferential treatment to oil imports from Canada, Mexico.� I used this source for my website.
Interviews Adams, Wade. Telephone Interview. 18 November, 2009. Interview. Mr. Adams is the Director of the Center for Nanoscale Science and Technology from Rice. He was amongst the first people I interviewed, and he was very helpful with the technical aspects of OPEC, such as giving me an estimation of how much oil the world used every day. Since Mr. Adams had experience in Nanotechnology, he answered more of my technical questions. When I asked the question “When do you believe the supply of oil will be depleted?,” Mr. Adams replied, “It may already be at a peak for easily produced oil. And in fact it may well be that each year that follows now, there will be a little less oil produced even as the demand may continue to increase…..If we pump out 85 million barrels a day, then the known reserves will be depleted in about twenty-something years.” This gave me a general idea of how much oil the world needs every day and when we might exhaust the supply of known oil reserves.
Goodstein, David L. Telephone Interview. 25 November 2009. Interview. As a Professor of Physics and Applied Physics at California Institute of Technology, Mr. Goodstein didn’t know much about the political aspects concerning OPEC. Although he lacked the political knowledge of OPEC, Mr. Goodstein gave me a straightforward answer about OPEC when I asked if he considered OPEC an innovation: “No, it’s a copy of the Texas Railroad Commission; OPEC replaced the Texas Railroad Commission.” As I thought about what Mr. Goodstein said, I decided to look at the Texas Railroad Commission. Once I conducted my research on the TRC, I realized that although it was a good model for OPEC, OPEC was indeed an innovation since it was a group of developing countries that produced oil instead of just being one state. The fact that it was a group of countries that produced the majority of the world’s oil made OPEC more powerful and in control.
Videos A Crude Awakening: The Oil Crash. Dir. Ray McCormack. Perf. Wade Adams, Abdul Samad Al-Awadi. Docurama, 2007. DVD. As I sat in class brainstorming topic possibilities for History Fair, one thing that came in my mind was oil, but I wasn’t too sure since I didn’t know much about it. When I suggested the topic to my teacher, she recommended that I take a look at OPEC and she gave me this DVD to introduce me to oil and OPEC. This movie was really great since it started off by stating how oil is so useful in many of the necessities we need as humans, such as transportation and running machines and other equipment to make goods and products. Then, there was a sudden feeling of cautiousness, since the supply of oil in the world is limited. Different professors and oil experts were interviewed and described how oil was being used too fast and how it could be depleted within the next 25 years. As I saw the professors being interviewed, I wrote down a list of people to contact and interview for my project. This source was the foundation of my project which led to many other sources including interviews and books. I used multiple clips from this DVD for my website.
Websites Petroleum Education. Web. 1 Feb. 2010. This website was very useful for understanding the uses of oil. I learned that "Oil is used in many everyday objects - more than you may have ever imagined.� I used the model obtained from this website on my web