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, oil products from the USA (a well in Pennsylvania, opened 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 mine workings, where favorable conditions were created for generating income. Oil pipelines and refineries were built here. Tankers were created that began to export petroleum products to other states (1877).

oil exporting countries

It cannot be said that oil-exporting countries at that time strongly competed with each other, because At that time, 50% more Russian oil was sold 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.

The beginning of the struggle

After the mass introduction of automobiles began, oil became a very important raw material, for which wars in different parts of the world have been going on for many decades. This is due to the fact that large, strong powers (USA, 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.

countries oil exports

The impact of production on living standards

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 are flourishing, although only five decades ago, before the discovery of valuable resources, these were very backward states. The export of oil and gas (mainly to Japan and the USA) made it possible to create pockets of โ€œparadise on earthโ€ in the arid climate of Saudi Arabia, and to raise the standard of living of the population. Moreover, in the budget structure of this country, revenues from the sale of petroleum products amount to about 90%. In Angola, where there are oil reserves, there is a very high rate of economic growth, with presentations on the right to develop large fields held in London and New York.

Oil exporting countries disloyal to the dominant representatives of the Western world, on the contrary, are subject to economic sanctions and military incursions (Iran, Iraq, Venezuela).

oil and gas export

In addition to the above states, 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 oil (on the shelf of the North Sea) that allowed England to form industrial areas among the first.

Oil exporting countries have various reserves. It is believed that the largest of them are concentrated in Venezuela (about 21 percent), followed by Saudi Arabia (about 19 percent), Iran, Iraq and others. The Russian Federation in this list is in seventh place with 5%, while the natural resources indicates that in twenty years (and around the world in an average of thirty-five) mineral storage can be significantly depleted.

Source: https://habr.com/ru/post/A11117/

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