Geography of water and energy resources - Essay Example

Geography of Water and Energy Resources In order to the major point made in the reading of "Who Gets What From Imported Oil?", it is to be affirmed that the petroleum Industry is managed by ‘Organization of the Petroleum Exporting Countries’ (OPEC). This particular industry has been constantly in news recently for having variations specifically in product prices. In this similar context, there lay certain misconceptions related to the increase in price and also the variation with regards to several petroleum products.

However, the real fact is ascertained to be as that a major percentage of revenues generating from the export of oils are converted into the expenses like tax and duties (OPEC, 2014).Based on the reading of "Who Gets What From Imported Oil?" concerning the viewpoints on OPEC wealth and power, it can be ascertained that OPEC, being an international organization, is often regarded an economic association of the oil producing or exporting countries having the mission to increase the fixed income of its associated countries.

The survey conducted by OPEC in the year 2012 highlights that the OECD countries are making more profits from oil taxation as compared to the nations of OPEC. The results of the survey also explained that the OPEC countries are earning revenues of $4,888 billion, whereas OECD countries are earning $5,553 billion from exporting oil. The outcome from this survey eventually reveals the prevalence of inefficiency in the functions of OPEC. It is worth mentioning in this regard that every country falling under OPEC fails to reset the value of crude oil, which in turn, creates huge differences in taxation (OPEC, 2014).

ReferenceOPEC. (2014). Who gets what from imported oil? Retrieved from http://www.opec.org/opec_web/static_files_project/media/downloads/publications/Who_Gets_What_Feb2014.pdf