Oil is the most sought after of the fossil fuels, as it has many uses, such as petrol, diesel, heating, plastics for healthcare and construction.
The three main producers of Oil are:
- Saudi Arabia (25% of the worlds oil)
- USA (especially Prudhoe Bay)
- Russia
Biggest trade routes:
- Prudhoe Bay, Alaska, to Valdez and then the USA via the TAP.
- Saudi Arabia to Europe, esp. UK, Australia, China and America
Problems with transport:
- Very sought after - cases of pirate attacks off coast of Somalia
- Oil spills and leaks in pipes have damaged wildlife
OPEC is the Organisation for Petroleum Exporting Countries.12 countries. Controls 1/3 of the worlds oil production. Keeps prices high for max. profit.
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