The history of oil
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- Опубликовано: 26 сен 2024
- Story of oil in comics. How OPEC was formed, why prices rose and why they are now falling.
Bisbo's latest video on Oil Prices:
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The word "crore" (10 million = 1 crore) used in the video is common is South Asian countries, which don't follow the international system.
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RUclips 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%
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😂😂
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....
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.
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
Cheaper oil is now the history... Oil prices increasing day by day so as inflation
Not really, one barrel is still around 68$, in 2008 it was 156$.
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.
145 dollllls
😂😂😂😂
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
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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
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!
4:23 That is so true in today's situation!
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 $60.
Also, the lower prices hurt these nation’s federal budgets and GDP considerably since their national economies where based on oil/energy sales.
The USA is not reliant on these sales to nearly the same extent and weathered the low prices quite well.
OPEC and Russia eventually had to place agreed upon caps on production to bring the price back up and gave up market share in the process.
All this led to a more robust and efficient American oil industry that is now set to overtake any other nation in oil production, oil refining, and the international sales of both refined oil and unrefined oil.
The USA has become an energy Superpower.
Hell yeah.
Quite right Yeager
True. I am from Kuwait and petrol prices increased around 4 months ago and we are suffering now because the prices rose by around 60%, while it is getting cheaper in the USA (I used to live there, left it recently).
AT "suffering"? Boo Hoo! You mean it went from 1cent to 61 cents? That's awful!! Sure beats the 380% rise in the states.
It is still much higher than it should be.
In Russia petrol was never cheap - the price is the same as in the US (50 cents per liter)
Abdulrahman Almuneef Dont get mad over him, we dont know his stories
the prices went up from 0.66 to 0.90 SR/litre the prices are still cheaper than USA
AT
Suffering?! Is it because you can't drive your heavily modded V8's all day long anymore?
I recently discovered this channel. You guys have amazing content.
the best part of this mini movie > "" We want cheap petrol!! We want cheap petrol!! "
+fidel catsro lol
the price of oil is now less ten dollar a barrel ..indian govt is rising prices of oil everyday ..they came to power claiming they will reduce the price of oil ..but they increased the price to a record level .
Its 75$ 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
Hahah i love the animation and narration. This is the best explanation from RUclips. Simple and understandable
4:51 Voice overs.. on point.
Lol now in 2020 when international prices are lowest ,Indians still buying at 85rs per liter .
Everyone: Buy my oil
USA: We will steal your oil
I can't stop 😄😄 its true
USA: we are corporate theifs
4:51 lmaaao
Lmao
Like zombies lol😂
I am regretting the moment I clicked on this video!
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
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
This was made for children right?
Yes, that's correct.
Bisbo lol
I think for sloths.
faithfreedom.org/challenge.htm
+Jack of Blades lol
This is so lovely video I come here over and over again :D
Thanks David
This is a really great channel, take my sub!
Thank you for this lesson in economics.
+RENATA CANTORE GROSS glad you liked the video (and voice!) too
Polemic American video about Arab Oil
ruclips.net/video/97IdCwPSs-U/видео.html&ab_channel=TheExceptional
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
We should have listened to this long back.
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!
Beautiful presentation..
Simple n clear.. Always wondered the fluctuations in oil prices, gold n US dollar
Thanks..
+geo 2016 thanks
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.
And in 2020 it’s again back to a cent or even less for a liter
Sick beat in this vid 🕺
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.
Interesting...
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💩💩💩
Only Indian Government benefitted from the lower oil prices not the people.
THANKS A LOT ..EXCELLENT INFORMATION !!
i love the thumbnail
it was asked in upsc prelims once.. how many liters in a barrel of oil!?
In India price of fuel is very expensive. India buys oil for cheap price and sells to its citizens at double the rate.
Yes that’s right Alan. Taxes are more than the price of oil.
brilliant simple explanation ! thank you !
$0.05 per liter is $0.19 per gallon, for those who are curious.
Thanks Kevin
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
Now in 2021 the price of mustard oil in india is 150 rupees
And
The Price of petrol is 100 rupees in india
This video could pass for a Seseme Street public service announcement.
+John Davis 😂
every Angolan should watch this too!
But we citizen are never enjoying the reduce price of oil
It's business company makes profit of it
If you lived in the uk this would be Titled ''Why oil prices remain high''
+Bigstep uk we did a follow up video on this a few months back and questioned why prices are higher at pumps when barre cost has fallen!
*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?
Very Good and Very easiest method to understand the reason.
Ok so today I understood this petrol story thank u. Now i need to think something big.
Who r at 2021
excellent slide 👍
+Pavan K thanks Pavan
Bisbo
Pleasure..
Plz make on other issues too..
Ur work is really simple n easy to understand.. 👍👍
Oil prices have also lowered because of Isis and Crisis in middle east ( syria iraq yemen libya Egypt and Tunisia ) all these war torn countries also have played a Vital role in lowering of oil prices
War or problems in middle east will make oil price go up, not down
Bisbo yes you are right but here the problem is more complicated
isis and other rebels they had controlled oil for many years and so they were illegally selling millions of dollars of worth oil at throw away prices to selected buyers and this is also a reason why oil prices came down
This video helped me ace oil refinery company interview!!! i love you !!
Wow, so happy it helped someone.
Seeing this video after filling petrol in my vehicle for 100Rs/litre. 😑😐
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.
Anybody from 2021 getting recommended this.... Today s price of petrol 96. 40 per litre
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
Oil price falling...
.
.
Modi- hold my beard
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
Today india's petrol price is around 75 rupees which is not a cheap price ...!...
Yes. See our video on how taxes doubles India’s Petrol prices
Bisbo kindly update it by 2020 with latest data...Its very useful
Bisbo is such a good and informative yt channel but people don't subscribe it
Superb...subscribed
My school actually played this video 7 years ago😂😂
we must look for green energy
Lmao the price of petrol in india is almost 104 rupees per litre as of June 2021 🤣🤣
0:23 oh god, where did the mediterranean go
People in India are very very poor. Even lower Oil prices are still very expensive for indian people.
As an Indian I am so happy to hear this news
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
fantastic vlog
India: are u sure about that
salutations from venezuela. great video. it is time that the world got past its dependency from oil and starts creating cleaner and more efficient forms of energy markets. tonsay that the shift has hit venezuela hard would be a gross understatement, but that too will pass, and oil producing nations like mine are increasingly recognizing the need to evolve from their their traditional economic models.
+Carlos Perez yes Venezuela has been hit hard. We do hope the situation becomes better soon.
hey cousin
Excellent 👍🔥 , it takes long time of 6years to reach me . But I can say India petrol prices are not lowered after 2014 even crude oil reached 40dollars /barrel , GOVERNMENT OF INDIA PUTS SUCCESSIVE TAXES ON CRUDE OIL PRODUCTS SO THAT INDIAN PEOPLE ARE NOT BENEFITED DIRECTLY BUT GOVERNMENT SAVED LOT OF MONEY AND USED FOR HUGE PROJECTS .
😂😂🤣 and RUclips 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.
petrol which is available at 40 to 45 rupees per litre is sold at 71 to 76 rupees per litre
Oil is low because the US government told the speculators to stop speculating on oil to hurt Russia. The price of oil right now is probably the true market price.
Well now it has changed a lot 😆
Rahul Gandhi had commented in Parliament that 1 barrel costs 30rs... Great knowledge share Rahulji
5:10 , i think the woman was travelling in her dreams !!!!
I don’t blame industrialized countries like America for trying to take advantage of oil producing companies. If they don’t, The oil producing companies will simply take advantage of the industrialized countries, understanding the dependence and demand; it’s the nature of business. The real solution is clean and sustainable energy that can be independently supplied.
Yes that’s the reality
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.
Good explaination to those who learning economics
I'm subscribing.
*Dear foreigners in my country fuel price is 93*
Demagraphics /Efficiency/and fracking and better imaging tech affects supply and demand..... :)
Back when bisbo was animating class videos
Oil always been a boom or bust thing and will continue to be so. It's really an engineering problem, we can now extract hard to extract oil and make a profit doing it! There is a huge amount's of oil and natural gas around, the bottleneck is in refining capacity and till there is the political will to build more of them, this will be a factor and will time to time cause mood swings. It's just a cycle!
By the way no one got angry in the country's that made oil because its no longer cheep lol
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.
if car prices are low then oil prices will be high but if car prices are high then oil prices will be low.