The history of oil

40

Story of oil in comics. How OPEC was formed, why prices rose and why they are now falling.

Bisbo’s latest video on Oil Prices:
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Oil prices in 2018: Will the rally last? https://youtu.be/Gs7F5dhjOUY

Our video on the ill-effects on fracking:
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Why fracking is dangerous: https://youtu.be/Icxn18tPwRw

Our video on how the tax component on petrol keeps prices high
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Petrol prices: Why prices remain high at the pump: https://youtu.be/ompYWYS3d1Q

The word “crore” (10 million = 1 crore) used in the video is common is South Asian countries, which don’t follow the international system.

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40 COMMENTS

  1. Normal people found oil: get a shovel or anything to take it
    America: get an M4, missiles, drone missiles, tank, full weaponized helicopter and jet fighters

  2. America made the Saudi Arabia a very rich country.. And now this young generations of Saudi people are even ungrateful to America. What a snakes people we helped! They came from nothing! Without America they might not even a air conditioned there of food to eat and that’s the truth!!!!

  3. 1:29 – the OPEC oil price increased 3x in late 1973 because the USA supported Israel in the Yom Kippur war of 1973. OPEC raised prices 3x ($15 – > $45) to put punishv the USA after Egypt lost the war and lost some land! Since the USA was providing military security for the whole world, including security for Israelis who faced genocide in WW II, it was very upset!
    https://en.wikipedia.org/wiki/1973_oil_crisis#Chronology
    1:29 – President Reagan #40 in the USA keeps the Iran-Iraq war going (whoever is behind – the USA sells them cheap weapons) to keep the two countries selling oil at cheap prices! Oil hits $10 a barrel (equivalent to $25 in 2022 dollars!) This very crooked action eventually led to the 9/11 attacks as retaliation to the USA!
    2:56 – the USA actually sits on two of the largest original oil deposits in the world – the Permian Basin & Alaska North Slope deposits. But most of the oil was exploited!
    3:00 – In roughly 2015, fracking enabled the USA to become energy-independent for the first time in about 50 years!

  4. Once upon a time america found out there was oil in the middle east so you know what they did, MURICA is what they did and there excuse was there was a wmd in a oil field the end

  5. Arab country have only oil and oil finish Arab country finished and Saudi Arabia dubai qater kuwait behrin Jordan qypt only tourist place arab country very poor coming soon and future without oil and all world only power full strong non Muslim country brother India USA China Russia japan Korea Germany france Israel real fight against all 57 Arab Muslim country dead 💀 who win

  6. Excellent 👍🔥 , it takes long time of 6years to reach me . But I can say India petrol prices are not lowered after 2014 even crude oil reached 40dollars /barrel , GOVERNMENT OF INDIA PUTS SUCCESSIVE TAXES ON CRUDE OIL PRODUCTS SO THAT INDIAN PEOPLE ARE NOT BENEFITED DIRECTLY BUT GOVERNMENT SAVED LOT OF MONEY AND USED FOR HUGE PROJECTS .

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