In this paper, I am going to discuss how the oil cartel known as
OPEC (Organization of Petroleum Exporting Countries) impacted the
United States economy in the 1970’s, how the effects of this are still felt today, and how their power should continue to influence our thinking where foreign policy and energy policy are concerned. First I will explain what OPEC is, its history and how this concerns every citizen in the United States. Then I will discuss how leaders of the past dealt with the pressures concerning the further effects on the economy at the time, which brought to light the need for energy policy as well as pressing foreign policy issues that need to be addressed, as both are certainly detrimental to our economic well being.
The Organization of Petroleum Exporting Countries has a membership of 11 countries ranging from United Arab Emirates to the Socialist People’s Libyan Arab. The members of OPEC currently supply more than 40 per cent of the world's oil......
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Approximate Word Count: 1837
Approximate Pages: 8 (260 words per double-spaced page) |