THEGREENGROK    Statistically Speaking

Hard Times for OPEC?

by Bill Chameides | December 11th, 2009
posted by Erica Rowell (Editor)

Permalink | Comments Off on Hard Times for OPEC?

 

The global economy has slowed. Oil prices have fallen. Are the 12 member states that make up the Organization of the Petroleum Exporting Countries, better known as OPEC, hurting?

You be the judge.

Net OPEC Oil Expert Revenues (in billions of 2000$s)

2007:    566
2008:    781
2009 :   459
2010:   598 (projected)
(Source)

For comparison (in billions $s)

U.S. private investment in energy R&D in 2007: under 3

U.S. government investment in energy R&D in 2007: 1.9

U.S. government investment in space R&D in 2007: 11

filed under: economy, faculty, international, oil
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