THE RISE OF POLITICAL CONSERVATISM 1980 1992
PRESIDENT GEORGE HW BUSH
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
To regulate the supply and price of oil
|
|
|
to help the Palestinians in their problems with Israel
|
|
|
to design new machinery to get oil out of the ground
|
|
|
to keep countries that are not members from producing any oil
|
Detailed explanation-1: -OPEC aims to regulate the supply of oil in order to set the price on the world market. The arrival of fracking technology for natural gas in the U.S. has reduced OPEC’s ability to control the world market. The organization was established in 1960 by its founding members Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
Detailed explanation-2: -OPEC’s objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.
Detailed explanation-3: -OPEC is trying to prop up oil prices as global demand slows down OPEC and its allies plan to slash oil output by 2 million barrels a day to prop up oil prices. Gasoline prices are rising again in the U.S., but the effects vary in different parts of the country.
Detailed explanation-4: -Organization of the Petroleum Exporting Countries (OPEC) Its current mission is to coordinate petroleum policies between its member countries with the goal of stabilizing the oil market for consumers, producers, and investors.
Detailed explanation-5: -The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. They were to become the Founder Members of the Organization.