The history of oil
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- เผยแพร่เมื่อ 29 ก.ย. 2024
- Story of oil in comics. How OPEC was formed, why prices rose and why they are now falling.
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TH-cam recommended this after 5 years to show the Indians why the price is risen!!😂😂
Hahahahaha
Loool
But the cost per barrel price has decreased now but our government is charging more tax
"Price is risen" 😂
@@explorerakshat4907 more than 250%
what ever happened in India oil prices is going up every day...
+Ajeed Antoni they are well below the levels of 2009-10
Bisbo OK but in India it is high ... it is higher than 2009 _ 2010
+Ajeed Antoni I remember petrol prices around ₹80 some years back when the $ was 50+. Now it's a little below ₹80 with the $ at 66. So relatively, it still 20% cheaper than before.
Ajeed Antoni : Also our government increases and reduces subsidies on petrol and diesel in order to maintain the price. This is good because when oil prices increase subsidies are increased thus reducing the price. On the other hand when oil prices decrease subsidies are reduced therby creating adequate buffer (for future subsidies) when price of oil increases.
Darryn D'Souza ... Yas! it is good for India and our India needs to growing but it does not come to normal class people and farms. these are the people who gives to life to India....
We should have listened to this long back.
Hey brisbo I saw Ur video first time...and loved it ...loved ur concept small and simple thanks for wonderful piece of knowledge
+Raja Babu thanks for your wonderful comment. Made my Sunday! pls watch other videos from the channel.
That Shiekh has an Indian (Apu) accent XD
+Rizwan Khan lol
Lol
He is jethalali
Brother what does Apu mean?
@@appujo1901 character of Apu from *the Simpsons* cartoon
This video could pass for a Seseme Street public service announcement.
+John Davis 😂
When demand for any product exceeds supply the price escalates.
This will happen to oil too.
Why do so many native English speakers from some parts of the world insist on saying "foods and vegetables"? Are vegetables not food?
+Joel Wilson lol
excellent slide 👍
+Pavan K thanks Pavan
Bisbo
Pleasure..
Plz make on other issues too..
Ur work is really simple n easy to understand.. 👍👍
Oil price falling...
.
.
Modi- hold my beard
United we stand divided we fall
oil prices DO NOT FALLING. they re going UP
that what we are saying, it will now keep rising and falling, but within limits at least for a while
most of the nations the price have never fall. they only go up. they use taxes and import fees to keep the cost up. when it goes cheaper it takes 10 years to fall for some cents, but when it go up, price rise next day and stays there for ever.. thats why oil companies are terrorists and dictators.
An excellent video but the background music is very distracting and masks what the narrator is saying. What would happen to the world if background music was just removed.
Demagraphics /Efficiency/and fracking and better imaging tech affects supply and demand..... :)
In 1973 the US was bankrupt. They made an agreement with Saudi Arabia which controls OPEC that oil would be sold only in US Dollars ( Petrodollar). This guarantees demand for US currency allowing the US to print money without any ballast ( FIAT Dollar). The real money in oil it is not in producing but in the currency production. More oil sold more demand for US Dollars. That is why the US attacked Iraq. They started selling oil in Euros what could damage big time the US economy. Doesn't matter who produces, the US dominates the selling which is in Dollar. That is why Saudi Arabia can pretty much control the US. There is a good article by William Clark about this - web.archive.org/web/20080202025907/www.energybulletin.net/7707.html Another good article about this topic which explain the conflict with Iran - www.resilience.org/stories/2006-01-17/proposed-iranian-oil-bourse/
1. oil price is heavily subsidized. I.e. through extremely high military costs and tax breaks for the local oil producers. The oil price does not reflect that. This article is quite simplistic but it conveys some of these points www.iags.org/costofoil.html
2. US imports most of its oil from other than middle eastern producers. www.randalolson.com/2014/08/28/where-the-u-s-gets-its-oil-from/ this puts military "investment" in an entirely different light.
3. there is no single reason why the price of oil is such as it is. There are many contributing factors, but I'd put most emphasis on feuding factions and venture traders.
Yes Mickey, the issue is complex and there are lots of 'hidden' factors.
Play at 1.25 speed. Trust me, you'll be thanking me.
+Anubhav Uppal yes. Later videos we have increased voice over speed. This was our very first one. Have a look at some newer ones.
+padraigm74 shale oil is through fracking shale rocks.
wtf:d
eh no dude.
Gunners the forth.. go and save your position in epl... everton gonna smash you😂😂
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145 dollllls
😂😂😂😂
Felt like I was back at school when they wheel that fat tv in to watch a video , while the teacher is drinking a cup of tea
+Rob Williams hahaha Rob. It's meant for school kids. And have mercy, this was out very first video ever!
@@BisboWorld Dont worry girl, im with you ♡(: instead its well made ngl.
Cheaper oil is now the history... Oil prices increasing day by day so as inflation
Not really, one barrel is still around 68$, in 2008 it was 156$.
COVID 19 - I am about to end this mans career
(Oil at -$40 per barrel)
It’s a 4 year old video bro
Bisbo ironically this video started your career at YT!
4:51 lmaaao
Lmao
Like zombies lol😂
Arab: My oil is $10/barrel!
The US... made ISIS... war with ISIS... bought ISIS oil in Iraq until it ran out... oil prices crashed
US: My oil is $3!
Despite heavy downfall in per barrel oil price, fuel prices have shot up in India. So the people have not been benefited, the government takes away all.
Yes Modi is saving all that money in Banks for his kids apparently /s
I will travel without worrying about the cost!! Neither Airlines companies reduced their prices -.-
+Sultan Loobari so true!
Capitalist pigs
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
The value of the currency impacts oil prices (and all prices), too. Supply and Demand impact both the cost of the oil and the money. Played at 1.5, helps a lot.
+Todd Cook yes currency value is crucial. Our new videos are at a much faster speed. Do have a look.
4:23 That is so true in today's situation!
This was made for children right?
Yes, that's correct.
Bisbo lol
I think for sloths.
faithfreedom.org/challenge.htm
+Jack of Blades lol
its 105 rupees for a litre in my state AP. it was like 70 Rs one year back
Karnataka too same
Modi hai toh mumkin hai ❤
90 here in my city
Lol now in 2020 when international prices are lowest ,Indians still buying at 85rs per liter .
No matter how much the price of oil falls, the current government will keep pushing the price up. And the BJP fanatics will just find an excuse to justify it.
Bjp💩💩💩
Seeing this video after filling petrol in my vehicle for 100Rs/litre. 😑😐
OPEC and Russia also tried to push USA fracking out of business by over producing and bringing the price per barrel below what would be profitable for the more expensive to operate American oil industry.
It instead caused an increase in efficiency that brought the average profitable price to around $40 a barrel, instead of $60.
Also, the lower prices hurt these nation’s federal budgets and GDP considerably since their national economies where based on oil/energy sales.
The USA is not reliant on these sales to nearly the same extent and weathered the low prices quite well.
OPEC and Russia eventually had to place agreed upon caps on production to bring the price back up and gave up market share in the process.
All this led to a more robust and efficient American oil industry that is now set to overtake any other nation in oil production, oil refining, and the international sales of both refined oil and unrefined oil.
The USA has become an energy Superpower.
Hell yeah.
Quite right Yeager
And in 2020 it’s again back to a cent or even less for a liter
Oil prices are not low. Oil prices are overinflated so Arab interests can continue living their $1 billion per year lifestyles (multiple princes and sheikhs per country), and so big oil companies can make huge profits charging almost $3 per gallon of gas in the US. The last time oil was LOW, gas was $.26 per gallon. Yes, twenty-six CENTS per gallon. It's a conspiracy.
Very simplistic. Part of the price fall was due to OPEC trying to drive the price down below the cost of production in the US to prevent production of these new fields. However, the US industry has lowered the cost of production even further making US shale oil again economic to produce, even at these lower prices.
+dahveed284 agreed
Don't forget that Saudia Arabia was also lowering the oil price to hurt Russia.. Russia as backers of Iran and Assad is the backer of Shia islam.. Saudi Arabia is fighting against shia islam.. It is a sunni islam power.
+AdstarAPAD yes there are wheels within wheels
A cartel, like OPEC, artificially raises prices by restricting the supply of a commodity. But only 13 countries are a part of OPEC and new oil discoveries in non-member states (that have no quotas) means a glut of oil. It doesn't help that the OPEC countries are VERY dependent on their oil revenue, which makes quota cheating very tempting.
+dahveed284 very true
Now india has MODIfied petrol... ₹90
This is Dora the Explorer version of Autistic news.
+Jimmy Rustles lol. A backhanded compliment! But see our newer vids, you may change your mind
SIR, I JUST TURNED A HUGE FAN OF YOURS.
YOU HAVE EXPLAINED EACH AND EVERY ISSUE IN SUCH A SIMPLISTIC WAY......
+Raj B thanks Raj. Very happy to have your comment
@@BisboWorld Bro, an editorial suggestion? You don't MAKE OIL but produce it?😊 Nice video!😊
Yrrdufuf
it was asked in upsc prelims once.. how many liters in a barrel of oil!?
Lmao the price of petrol in india is almost 104 rupees per litre as of June 2021 🤣🤣
0:19 wtf is that map it’s ridiculously wrong
Mediterranean be like: peace out!
fracking is the most ridiculous way to get energy, can make it for 60 dollar but kill lost all water on earth
I recently discovered this channel. You guys have amazing content.
usa need new goverment becouse her relationship with this world so bad
Who r at 2021
OPEC: Organisation of the Petroleum Exporting Countries. Not Oil Producing and Exporting Countries!
But we citizen are never enjoying the reduce price of oil
It's business company makes profit of it
Lol.. some 5% people use commercial aviation to travel in india remaining they struggle to put fuels on vehicle and indian petroleum ministry unstable the price rate. How depressed indians about petroleum products. I think mukesh ambani paid your channel.
4:51 Voice overs.. on point.
The end of this tale is BS. The producers of shale oil cannot continue drilling for long at today's prices. And there is not replacement for oil yet. Expect hard times soon for most of the world.
I am regretting the moment I clicked on this video!
Everyone: Buy my oil
USA: We will steal your oil
I can't stop 😄😄 its true
USA: we are corporate theifs
Woooww..... And in present we just buy oil at ₹104/litre in India 😂😂
*very good....cheap oli price can destroy the arrogant gulf countries*
very good...families will die of hunger when the oil finish's sooner or later
they are muslims they must die even if they are innocent people
im so jealous bcuz they are very very rich
and im poor from a poor shitty country called bulgaria
XDD that is you poor guy u have a very shitty poor country
OneFace M they should work like everyone else I'd they want to live. Otherwise fuck'em
AsesomeSource fuck you
محمد خالد you want free food?
It's a big joke that India is happy for lower fuel prices 😂😂😂
😂😂🤣 and TH-cam recommended this video after 5 just to rub the salt 🧂 on the wounds. It is way more costly now and once the price are increased it never comes down even if oil barrels price gets reduced.
Same mistake as other videos on TH-cam: USA isn't the same as "America". America was the name set to the new land by European conquerors in late 1400. Furthermore, by the time this new land was named America in 1507 the piece of land that belongs to USA nowadays wasn't discovered yet. This is getting more interesting: when people decided to add the "of America" suffix to name this country in 1776, the name "America" was already taken and used for the entire mass of land for over 250 years earlier. Just read what world history says.
+alexmedina you are right Alex
By the way no one got angry in the country's that made oil because its no longer cheep lol
This is a really great channel, take my sub!
What will be the suituation of Arab countries if other nations start using electric vehicles!!!
Oil is still power
still be rich than india.
I Love your beautiful voice & accent !!!
All right, now i am even more angry with my government. In brazil, petrol has so much taxes that prices keep rising and never falling in like, 15 years. Right now, 1 liter of petrol is 5 reais, and that is more expensive than ever, highest price in history. So, i keep wondering, wtf? Whi sould i kill to get things resolved? This can't go on much longer...
India same problem. Prices at the pump never came down much
Well in india bjp has maintained high price even when oil barrels are at their all time low
If u knew economic u wouldn't be asknig question here
@@tell5g explain
@@doujapaohaokip9636 no need go search on google if u can't then it's not on me.
if electric cars will raise and all country maybe oil will be cheap and I don't use oil cause my car is electric car I think German has no oil now lol
we must look for green energy
you missed a huge part. gaS at the pump was .99 cents a gallon in 2000. after 9/11 & hurricane katrina per gallon shot up to over $5 a gal and never came back down until bush left office. later it fell even further after russia threatened to bring theyre oil to the European market for cheaper and sell it in the euro not American dollar. so since we are in bed with saudi arabia since nixon era saudi dropped theyre barrel of oil to almost $20 a barrell because they new russia couldnt compete and such low prices would damage russian economy worse than any sanction at the time.
+Aaron Gatti yes, that's good understanding of the matter from you.
5:03 funny to hear... Fuel price in india is 100% high due to taxes...
+Vicky Vicky yes taxes are over 40% of the price
@@BisboWorld nice so we buying taxes not oil
Soudi oil forever ☝️💪
True. I am from Kuwait and petrol prices increased around 4 months ago and we are suffering now because the prices rose by around 60%, while it is getting cheaper in the USA (I used to live there, left it recently).
AT "suffering"? Boo Hoo! You mean it went from 1cent to 61 cents? That's awful!! Sure beats the 380% rise in the states.
It is still much higher than it should be.
In Russia petrol was never cheap - the price is the same as in the US (50 cents per liter)
Abdulrahman Almuneef Dont get mad over him, we dont know his stories
the prices went up from 0.66 to 0.90 SR/litre the prices are still cheaper than USA
AT
Suffering?! Is it because you can't drive your heavily modded V8's all day long anymore?
India: are u sure about that
the price of oil is now less ten dollar a barrel ..indian govt is rising prices of oil everyday ..they came to power claiming they will reduce the price of oil ..but they increased the price to a record level .
Its 75$ a barrel
1 barrel =159 litre so , 74 ×75 (conversion $ - ₹ ) =5550÷159 =it should be 34 indian rupees what we are getting is 100 rupees oil /per litre its more than triple 3× #waah modi ji waah
@@kailashpatel8663 34 figure is not accurate it is like 38 to 39 like the commission of petrol pump owners like 1ruppe and shipping is also like 1ruppe per litre and refining is like 2to3 ruppe but takes are 35 ruppe for centre and 22 ruppe for state these figures are googled so they may be a little inaccurate but the taxes really need to be controlled
@@fatehbirsinghchahal1257 yea btw i took roughly roundoff but if you increase 10 -20 rupees (taxes , transport etc .... ) more on per litre still its too much more than triple , today I saw on petrol ⛽ pump it was like 106 ( mumbai ) its increasing too much day by day
Canada produces more oil than it uses, oil prices are falling, why am I paying twice what Americans pay at the pump? what a crock of shit
Rex, don’t know about your country but in India taxes are more than the price of petrol. We’ve made a video on the break up of cost (last year)
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!
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!
Hahah i love the animation and narration. This is the best explanation from TH-cam. Simple and understandable
Boring stupid video, you must be an idiot !! ... Ask me why .. OK , I will tell you ... you added no info .. just a historic review
To some extent I agree but we have added what prices could look like in the coming years. Anyway have a look at our newer one on oil prices released in Jan 2018. Let me know your thoughts on that.
0:23 oh god, where did the mediterranean go
Fracking is just a story. USA had eyes on iraq for a long time and is getting it's oil from iraq for it's own use and for selling it. It's my opinion, others can differ.
Conspiracy theories...
Beautiful presentation..
Simple n clear.. Always wondered the fluctuations in oil prices, gold n US dollar
Thanks..
+geo 2016 thanks
Only Indian Government benefitted from the lower oil prices not the people.
This is so lovely video I come here over and over again :D
Thanks David
More videos should be made in this style. very easy to understand. Please keep up the good work.
+Prisoner60863 Pls see our other videos too and tell me what is not made properly. Will appreciate your feedback. Thanks
What is otherwise and interesting piece is spoiled by the robotic, repetitive and unnecessary music track. Couldn't listen to more than half of the total.
+Robert Seviour this was our very first video (now we have 70) thanks for the feedback
Thank you for this lesson in economics.
+RENATA CANTORE GROSS glad you liked the video (and voice!) too
Polemic American video about Arab Oil
th-cam.com/video/97IdCwPSs-U/w-d-xo.html&ab_channel=TheExceptional
People in India are very very poor. Even lower Oil prices are still very expensive for indian people.
Thank you Bisbo of India
+jeen-clawd Gahd Damn hahaha. Jean this was very first video 18 months back. Have a look at some of our newer ones.
Not with joe biden
what?? petrol in my country is $1.50
+junaid koya it was at the time of the video, now it may have changed
im talking about now. 2017 in Zambia. probably one of the highest in Africa. oh well nontheless I enjoyed ur video. short brief and everyone can understand. both for kids and adults. thumbs up from me
+junaid koya thanks Junaid
Adolf Hitler Greatest Leader can you show me proof of that as far I know India only has loans from world bank & etc which are very low interest or zero interest loans. never heard India took loans from other countries.
Adolf Hitler Greatest Leader lol bro I encourage you to increase ur knowledge base & learn the difference between FDI & FII & neither of them are loans taken by India & stop talking in caps.
In where is oil prices is low in my country India petrol price is around 80rs above one dollar and diesel price is also Hugh we can't afford it if the price going higher
Noufal, we have made video on why price remain high in India
Stop singing the words.. Its cringy
+ashutosh pal ok
+ashutosh pal ok
satisfied much?
Thats not how how oil is sold. Saudi arab does not care what other countries are selling oil for , they sell it based on their own price. If you think any country will lower their price just because some other country sells it cheaper does not mean they will.
+super cool it's a dramatisation of events that led to OPEC
miss representation of history, oil reached 147 usd/barrel in 2008, a speculative bubble where all assets, commodities showed a huge price increase, vs a depreciating dollar. OPEC objective is to stabilize the price of oil so they can plan their budget, not to increase it without limit, if that was the objective then simply cutting their production by 50% will have oil prices go to unheard of prices lets say more than 300% but they know that this will have inflationary impact as well as a burden on economies not to mention high prices makes more expensive oil economical.
the current low prices have roots in slightly lower demand growth, and an over supply between countries trying to bring others to the negotiating table.
+falkhlaiwi well analyzed. Good point
In India our goverment has saved billions of dollars because of low oil prices but we the consumers still face high rate of petrol and diesel
but as goverment is saving a lot of money it will invest in subsidies and future development projects for us
Partly right. It is also being used every year to cover the deficit
The anglo oppressors don´t like your colonial accent. For me, it is interesting, Indian female school teacher, who speaks almost flawlessly .
Colonial accent? !
@@pratheeshr.s1862 Yeah, generations ago. But if you look at the behavior of current British or American leaders in relation to poor migrant population, there it is. It still is a source of purity in identity and political power.
@@teemum.9023 my question was what you mean by colonial accent?? I have never heard of any such things, did you just make it up? Your answer got nothing to do with anything. You are one of the people who live in colonial memories, world had moved ahead a lot. Stop whining, there are lakhs of migrants who are extremely successful in Uk, and USA, if it is illegal migrants no one wants them, neither uk, usa or india appreciate it. Even africa when they when had a chance kick out poor asians who were living for generations in africa and took their property when edi ameen was on power.
@@pratheeshr.s1862 I think it is funny concept. Colonial accept means Brit talking about the inferior population, like the Indian accent to a native Brit, or African American to white Republicans. I said they don´t like your accent, not me. I do agree that people should learn to speak properly. In school I didn´t try to use a dialect in English class. Then it is about poor education system of average intellect of large populations.
@@teemum.9023 funny thing is you need a dictionary, first learn the word meaning of accent. Secondly you are a damn racist u just stated " inferior population like indian" im pretty sure you racist statement is offensive to many. Please carry your sorry ass out off here.
brilliant simple explanation ! thank you !
dont sell to usa. and price will up. they need it but they also want to set what price they want. 😏
THANKS A LOT ..EXCELLENT INFORMATION !!
Roll on electric cars.