OPEC was created in chicagoculture 0571116191

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fiction, 3 fatmen, alaska, politicians, ecco press, new orleans r&b, video & electronic general, atom, s.o.h.h., out of print book, implosion, actors, nuclear, 0571116191, 0375758674, realpublisher, reader's guides, cartoon picture, random house trade paperbacks, rhinestone cowboy, kekwick, By creating huge national oil companies to manage that resource, oil chicagoculture producing governments would eventually discover how complicated and expensive effectively managing that resource really is. Only one of OPEC's big state-owned oil companies chicagoculture is involved extensively in exploration and production outside their home countries (Algeria's Sonatrach is heavily involved in liquefied natural gas projects across the Americas). All of them need the technological expertise chicagoculture of the majors, whether it's Qatar Petroleum's joint venture with ExxonMobil to expand the RasGas and QatarGas liquefied natural gas terminals, Aramco's joint venture with Sinopec and Rosneft to develop natural gas in the Empty Quarter, or Shell and ChevronTexaco's extensive involvement in developing the tar sands deposits of Venezuela's Orinoco Belt. The great emotional issue for most oil producing states is upstream investment – the actual poking of holes in the ground. This resource is considered a hard-fought national patrimony in the way many people in this country view the Panama Canal – very emotive and not terribly rational.
OPEC was created in 1960 in response to a major price cut imposed upon oil-producing countries by the major Western oil companies, which at the time controlled most aspects of this business, from upstream production, to 0571116191 shipping, to refining, distribution and retail marketing. In theory, the majors accepted government ownership of sub-surface mineral rights (outside 0571116191 of Anglo-American common law, as I understand it, most legal systems state that subsurface minerals rights are owned by the state, regardless of who owns the land) but 0571116191 acted as if their concessions were their private property. A bad move when that property is not really yours. OPEC was a fairly useless organization during its first decade, though the late 1960s saw the beginning of the lengthy nationalization struggle between governments and private oil companies – a struggle the governments all "won" by the late 1970s.
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