OPEC Webquest - adapted from the Council for Economic Education
Directions: Read the instructions for each step and follow them carefully. If you have any questions, please raise your hand.
Step 1: At the bottom of the "letter" side of your paper, complete the following - Using the internet, research: What is the difference between crude oil and refined oil? How is refined oil used?
Step 2: Research the answer to questions 1, 2 and 4 on your paper using the resources below. You ONLY need to answer questions 1, 2 and 4!
Question 1: What nations are in OPEC? Are there any that surprised you? Why?
Question 2: What does OPEC do?
Question 4: Are any other entities (groups or organizations) involved in the production and sale of gasoline? If so, what kinds of groups or organizations? (Explain what each group/organization does to help produce gasoline).
Resources/Where to find the answers to these questions:
Question 1 and 2: Resource
Question 4: Resource
Step 3: Read one last article for consideration: The Hummer is Back. Thank Falling Oil Prices.
Step 4: What trends or patterns do you observe for the cost of gas from 2002 to 2018? Look at the graph here. Use your answer as part of Step 5 (Letter to the President).
Step 5: Complete the Letter to the President (on the other side of your paper). Your response needs to be at least 4-5 sentences.
Extension/Enrichment (if you finish steps 1-5)
Step 6:
Step 1: At the bottom of the "letter" side of your paper, complete the following - Using the internet, research: What is the difference between crude oil and refined oil? How is refined oil used?
Step 2: Research the answer to questions 1, 2 and 4 on your paper using the resources below. You ONLY need to answer questions 1, 2 and 4!
Question 1: What nations are in OPEC? Are there any that surprised you? Why?
Question 2: What does OPEC do?
Question 4: Are any other entities (groups or organizations) involved in the production and sale of gasoline? If so, what kinds of groups or organizations? (Explain what each group/organization does to help produce gasoline).
Resources/Where to find the answers to these questions:
Question 1 and 2: Resource
Question 4: Resource
Step 3: Read one last article for consideration: The Hummer is Back. Thank Falling Oil Prices.
Step 4: What trends or patterns do you observe for the cost of gas from 2002 to 2018? Look at the graph here. Use your answer as part of Step 5 (Letter to the President).
Step 5: Complete the Letter to the President (on the other side of your paper). Your response needs to be at least 4-5 sentences.
Extension/Enrichment (if you finish steps 1-5)
Step 6:
- Option A: Select one of the member countries of OPEC and research that country's economy (You can use the CIA World Factbook as a resource). How much of their economic wealth is determined by oil? What other resources, if any, do they also produce? Write your answers on the back of your letter. You may create a product map to accompany your answers if you choose.
- Option B: Research alternative energy options for cars. How do their prices compare to the cost of oil? Read this article and this article to help you. Based on your research, which do you think is the most cost effective option ? What are the advantages and disadvantages of electric or hybrid cars?
- Option C: Using the PBS Global Connections website, answer the following questions:
- Who first discovered oil in Saudi Arabia in 1936?
- What percentage of oil is located in the Middle East?
- What happened to oil prices between 1972 and 1974?
- By 2050, where will the U.S. receive 80% of its oil?