Posts Tagged ‘gasoline’

Graph of the Amount of Oil Production Affected by Crisis

February 27, 2011 Comments off

Although Obama might not view what is happening in the Middle East as all that important- he is going to basketball games and concerts and instead directing attempts to riot in WI- I think it is very important because the Middle East region sits on a very important resource- oil. So for fun, I put together a graph this morning to demonstrate the amount of oil production that is affected by the crisis in the Middle East. The graph shows oil production by country based on the most recent data I found in the CIA World Factbook, and shows each nation currently in crisis or about to be in crisis, and then the gray area represents all other nations not currently affected.

Any change in oil production likely will cause the price of gasoline to go up, and as you can see, a large percentage of the world’s oil comes out of this affected region, although if Saudi Arabia stays stable, then the percentages is considerably less although still significant. In my amateur opinion, gas prices are going to rise, the economy will dip again, and Obama will react to this all by supporting our enemies and lowering our oil output. Here is the graph: