- Published: September 15, 2022
- Updated: September 15, 2022
- University / College: University of Chicago
- Level: Undergraduate
- Language: English
- Downloads: 2
Module Who gets what from Imported Oil? Oil prices fluctuation gives the impression of cartels to many people. OPEC has refutedthese claims and shows the step by step analysis of how prices are determined. OPEC indicates that money goes directly to the governments rather than the oil producers as many presume. The countries and governments set the taxes and earn from production as opposed to oil producers. In graph one, OPEC shows that countries make huge gains from taxing oil and oil products, while graph tow shows the generated revenue from both taxes and revenues from oil. The taxes outweigh the revenues. Graph three shows this by showing the amount of taxes earned by OPEC members and OECD countries, showing a disparity of close to $21 per barrel. The fourth set of graphs shows the countries and taxation revenues. This shows that the arguments on who gains from oil are misplaced owing to people lacking facts.
Work Cited
OPEC. Who gets what from Imported Oil? September, 2014. Web. Feb 5, 2015.
