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    This document outlines an OPEC simulation game where students represent different oil producing countries. It provides details on the oil reserves and maximum production levels for each country. It also includes a price chart that relates the total quantity of global oil production for that turn to the price per barrel, following a basic supply and demand model. The objective is for each country to earn points by meeting certain earnings targets, which are outlined on the table and increase as the game progresses. The document tracks global oil production and prices over 10 turns of the simulation.

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    This document outlines an OPEC simulation game where students represent different oil producing countries. It provides details on the oil reserves and maximum production levels for each country. It also includes a price chart that relates the total quantity of global oil production for that turn to the price per barrel, following a basic supply and demand model. The objective is for each country to earn points by meeting certain earnings targets, which are outlined on the table and increase as the game progresses. The document tracks global oil production and prices over 10 turns of the simulation.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    53 views1 page

    Opec Master Sheet 2015

    Uploaded by

    api-282877985
    This document outlines an OPEC simulation game where students represent different oil producing countries. It provides details on the oil reserves and maximum production levels for each country. It also includes a price chart that relates the total quantity of global oil production for that turn to the price per barrel, following a basic supply and demand model. The objective is for each country to earn points by meeting certain earnings targets, which are outlined on the table and increase as the game progresses. The document tracks global oil production and prices over 10 turns of the simulation.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    of 1

    OPEC Simulation

    2012

    Adapted from Frederick Hess - Bringing the Social Studies Alive


    Teacher's Master Sheet

    10
    10
    15
    20
    30
    35
    50
    60

    Max. Prod.
    Barrels of Oil
    Per Turn
    (millions)
    2.0
    1.0
    2.5
    2.5
    4.0
    5.0
    9.0
    10.0

    230

    36

    Barrels
    of Reserve
    (millions)

    Country
    Qatar
    Indonesia
    Nigeria
    Venezuela
    Iran
    Iraq
    Kuwait
    Saudi Arabia
    Total

    Total Oil
    Production
    (in millions)

    Turn

    Earnings
    Target
    1 point
    (millions)
    $20.0
    $15.0
    $30.0
    $50.0
    $65.0
    $75.0
    $95.0
    $90.0

    Price
    (in millions)

    1
    2
    3
    4
    5
    6
    7
    8
    9
    10

    Earnings
    Target + 50%
    1 point
    (millions)
    $30.0
    $22.5
    $45.0
    $75.0
    $97.5
    $112.5
    $142.5
    $135.0

    Earnings
    Target +75%
    2 points
    (millions)
    $35.0
    $26.3
    $52.5
    $87.5
    $113.8
    $131.3
    $166.3
    $157.5

    Price Chart
    Total Quantity
    Oil Production
    (in millions)
    <10
    >10 to 12
    >12 to 14
    >14 to 16
    >16 to 18
    >18 to 20
    >20

    (Supply Curve)
    Price per
    Barrel

    Reserve
    At End
    1 pt. Each
    (millions)
    1.0
    0.8
    1.2
    1.2
    2.0
    2.0
    3.2
    4.0

    $50
    $40
    $35
    $30
    $20
    $15
    $10

    Total
    Production (in Millions)
    1
    2
    3
    Qatar
    Indonesia
    Nigeria
    Venezuela
    Iran
    Iraq
    Kuwait
    Saudi Arabia
    Totals
    Price/Barrel

    10

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