Chapter 22: OPEC
"...The Sultan wields absolute power, surpassing even the authority of a father... The Shura meeting decides the future of the Arabian Empire and, in fact, the course of the Middle East and the world. All royals of the Arabian royal family and the five founding nobles gather there."
I thought about it in a very straightforward way.
"So, there's a Shura meeting happening today."
"That's absolutely not the case."
Yasmin dismissed my statement with an incredulous look.
She shook her head, insisting that such a thing was impossible.
"If a Shura meeting were held today, we would have been notified in advance. We're not just any royalty; we're direct descendants of the current Sultan. It's unthinkable for us not to attend a Shura meeting."
"So, what's your conclusion, sister?"
"...A meeting that decides the future of the Arabian royal family is taking place in that council chamber right now."
'...What nonsense is this? Isn't that the same thing she just said?'
My head started to hurt.
So, I decided to stop thinking for a while.
It's a simple idea: if your head hurts, remove the cause of the pain.
***
As soon as we entered the council chamber, loud voices were echoing inside.
Specifically, they were coming from three people seated at a giant round table.
"So you're saying that if we create an oil-exporting countries organization, OPEC should control the pricing?!"
"That's absurd. With the Arabian Empire holding the most influence in OPEC, if you blatantly use it to lower oil prices, Venezuela's economy will be ruined!"
"No, why lower them? We should increase the prices!"
"How can we trust you, Ahmed Zaki Yamani, not to do that?!"
One was quietly observing, rolling his eyes to gauge the situation, while the other two men were shouting at each other.
Yasmin seemed to understand what was going on and smiled at me slyly.
"What's that smile for? It's really annoying."
"You look so clueless, little brother. I was going to enlighten you, but with that attitude, maybe I shouldn't."
"Please do, sister."
"...Good, you change your tune quickly. I like that."
Yasmin smiled, pleased with my reaction.
"Alright, let's start with the basics. As a member of the Arabian royal family and an oil heir, you must know the top 5 global oil-producing countries, right?"
Not being a multiple-choice question, I immediately shook my head.
Seeing my clueless expression, Yasmin's face took on a slightly embarrassed look.
'What's this? Is she embarrassed by my ignorance? Hmph! But how would I know about the dominant players in the oil market? It's not like I worked in the oil industry in a past life.'
'So cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! cute! My clueless little brother... I want to take care of him and feed him! So adorable!'
Yasmin, with her unique tastes, barely concealed a sad thought behind her affectionate smile.
"That's right, it's only been a week since you lost your memory. Of course, you wouldn't know."
"Just tell me already."
"...Sigh- First of all, the world consumes about 50 million barrels of oil a day. Most of this is produced by five countries. Even if a country has large oil reserves, like Venezuela, the oil extraction rights might belong to the Seven Sisters."
"Hmm..."
"In terms of global oil production, the Arabian Empire leads, followed by the United States, the Soviet Union, Iran, and Venezuela."
The Arabian Empire produces 16 million barrels.
The United States, a capitalist stronghold, produces 10 million barrels.
The Soviet Union, a communist stronghold, produces 9.5 million barrels.
Iran empire, the only remaining Shia state, produces 6 million barrels.
The Republic of Venezuela in South America produces 3 million barrels.
These countries together produce 44.5 million barrels a day, accounting for 90% of the world's oil production.
The remaining 5.5 million barrels are produced by countries like China, Canada, Brazil, Mexico, Nigeria, Angola, Norway, Kazakhstan, Algeria, Colombia, Indonesia, etc.
None of these countries produce more than a million barrels a day.
Canada, with its advanced technology and vast oil reserves, barely manages a 1% market share with 500,000 barrels.
That 1%, too, is greedily consumed by the Seven Sisters, contributing to the hegemony of the United States.
"So, these loud guys are the oil ministers from the 1st, 4th, and 5th largest oil-producing countries in the world. Basically, they're the big players who shake the world's energy dominance."
"Big players with no manners, it seems."
"....."
I couldn't agree that these were big players.
A true big player should carry a certain gravitas.
"Jumping up from their seats, shouting, pointing fingers, and even personal attacks? Oh, look at that, one is even asking about the other's parents."
"Well... the oil market can be rough, and so can the people in it."
"Hmm… the oil market isn't a construction site. Who's the one gesticulating over there?"
Yasmin brightened up at my question.
"Ah, I know him well. He's one of ours, from the Arabian Empire."
"And who is he?" "His name is Ahmed Zaki Yamani. He's from the founding Yamani family of the Arabian Empire and the Minister of Petroleum."
"Oh! The Minister of Petroleum."
"And he's also the chairman of Arabian Aramco, which holds all the oil drilling rights in the Arabian Empire."
In a previous life, Saudi Aramco, the Saudi Arabian national petroleum and natural gas company, had been the world's top in market capitalization.
However, Arabian Aramco, as my sister mentioned, is completely different.
To be precise, Arabian Aramco is the national petroleum and natural gas company of the Arabian Empire, wholly owned by the Arabian royal family.
The name itself is different, and its value is on another level.
Unlike Saudi Aramco, which is confined to the Arabian Peninsula, Arabian Aramco holds the drilling rights for oil and natural gas in countries with significant reserves like Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Oman, Yemen, Kuwait, Iraq, Jordan, Syria, Lebanon, and Egypt. They are actively extracting resources.
This single company holds 70% of the world's economically viable oil reserves.
And the Arabian royal family, owning all of its shares, decided to use this immense oil reserve to dominate the modern industrial world that runs on oil, thereby perpetuating the endless glory of the Arabian Empire and royal family.
"What should we do going forward?"
"If the Arabian Empire only produces oil, then naturally, we should use that oil."
"How so?"
"Weaponize the oil supply."
"....."
This is not out of personal greed.
It's solely for the nation and the royal family.
"For the endless glory of the Arabian Empire and the Arabian royal family!"
Nations endowed with natural resources started using them as leverage to maximize their national interests and exert political and economic influence...
The concept of resource nationalism began to emerge.
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IQIX
IQIX South Korean novel translated into English through ChatGPT 4 (AI)
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