Oil exporting countries: history and modernity

Oil exporting countries have appeared in economic history for a long time. It is believed that in the 80-90s of the 19th century, petroleum products from the USA (a Pennsylvania well discovered in 1859) and Russia (deposits on the Absheron peninsula, the beginning of development in 1848) were supplied to the European market.

From the history

In 1875 the Nobel brothers with large capitals came to the Baku minefields, where favorable conditions for income generation were created. Here, oil pipelines, processing enterprises were built. Tankers were created, which began exporting oil products to other states (1877).

It can not be said that the oil-exporting countries at that time strongly competed with each other, Russian oil in those days was sold for 50% more than raw materials from America and Peru (Lima). In 1883, the market of the Russian Empire was completely closed from American oil products, and the Baku deposits began to play not only an economic but also a political role.

Start the fight

After the beginning of mass introduction of cars oil becomes very important raw material, for which for many decades wars have been going on in different parts of the world. This is due to the fact that large, powerful powers (the US, Germany, France, Japan, China) do not have their own vast reserves. Therefore, the object of their military and political intrigues are oil-exporting countries with rich natural resources.

The impact of production on the standard of living

The state of the latter often depends on their relationship with the United States. For example, Saudi Arabia, Kuwait, Qatar and the United Arab Emirates flourish, although only five decades ago, before the discovery of valuable resources, they were very backward states. The export of oil and gas (mainly to Japan and the USA) made it possible to create foci of "paradise on earth" in the arid climate of Saudi Arabia, and to raise the standard of living of the population. At the same time, in the structure of the budget of this country, revenues from sales of oil products are about 90%. In Angola, where there are oil reserves, there are very high rates of economic growth, while presentations on the right to develop large deposits are held in London and New York.

Unfavorable to the leading representatives of the Western world, oil exporting countries, on the contrary, are subject to economic sanctions, military incursions (Iran, Iraq, Venezuela).

In addition to the above countries, oil exporters are countries such as Algeria, Nigeria, Mexico, Canada, Norway, Russia and the United Kingdom. The latter does not have significant reserves of various minerals, but it was the discovery of large reserves of coal, and then of oil (on the shelf of the North Sea) that enabled England to form industrial regions among the first.

The oil exporting countries have different reserves of oil. It is believed that the largest of them are concentrated in Venezuela (about 21 percent), followed by Saudi Arabia (about 19 percent), Iran, Iraq, etc. The Russian Federation in this list is in seventh place with 5%, while the rate of natural Resources indicates that in twenty years (and in the world on average thirty-five), the storehouses of minerals can be significantly depleted.