0: Oil is falling

3: 147 Dollars a hundred and ten Dollars

7: [$60]

9: $45 once upon a time oil was sold in America for as cheap as one cent per liter

18: 50 years ago these countries produced most of the [oil]

24: Venezuela

28: Saudi Arabia, Iran Iraq and Kuwait

35: They sold their oil at whatever price they got

39: My price is $10 a barrel but other countries are selling their oil for $9

46: Here take mine for $8 one barrel equals

51: 159 liters of Petrol soon the whole World wanted more and more of their oil

59: We have to charge higher prices for a royal, but how

65: in

67: 1960 these five countries formed a group

71: Our group will now be known as the oil producing and exporting countries

75: OPEC for short and together we'll sell our oil at only one price

81: Eight more countries joined them and the price of oil suddenly shot up

93: other countries like uk and Russia also found lots of oil

100: We're not part of opec and [we'll] decide our own price

104: The world was soon flooded with more oil from more than 15 nations keeping price

110: Low at about $40 a barrel

114: buy my oil

116: No buy from me

118: But that was [about] to change

123: 15 Years back when the us China and Europe were growing they needed lots of oil

131: This made the price rise

133: When the price [of] oil increases the cost of transporting goods from the factories to shops rises

141: by Road

143: by sea by Air

146: from end

148: 2003 the price of Oil Began jumping up

162: as

165: India is the fourth largest buyer of oil in the world prices of foods and [vegetables] began to rise

175: The Usa also makes oil, but use more than they produce so they too faced rising prices

183: Rupees 70 per [litre]

187: But countries that were selling the oil. [oh] boy they were having fun

192: Building Malls

194: Fancy Buildings giving almost free petrol to its citizens

200: As it so often happens no party lasts forever

205: 2011 in the [u.s.]

208: We have discovered a new way of removing oil from under the Earth's crust. It's called fracking and

216: while it costs over [$100] to buy oil

219: we can now make it at

222: $60

223: China and Europe that only [10] years back required large amounts of oil

229: Business is not good so we don't need as much oil as before

236: With these two blows at the same time the price of oil began to drop

254: The biggest oil Buyer Usa was now going to become an oil seller

261: By 2020 we'll make more oil than we need

266: today these three [countries] make the most oil

270: 11 Million Barrels, USa 10 Million Russia

275: [9] million Saudi, Arabia

279: Now it was the turn [of] [oil-producing]

281: Countries to feel the heat their citizens were used to cheap petrol and low prices

286: So when the price was raised they were angry

291: We want cheap petrol we want cheap petrol

296: Countries like India were very happy with lower oil prices and have saved crores and crores of Rupees

303: for the first time one [litre] of [a] fuel cost less than one litre of petrol and

309: [how] I can travel without worrying about the cost

313: Prices from other sources of Energy are falling solar energy

318: wind energy

320: Making sure oil prices cannot rise very fast

325: The price of oil keeps rising and falling, but it seems that oil will remain cheaper than it was before