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Saudi Arabia Plays Powerful Role in Oil Crisis
Saudi Arabia asked for a meeting this week to talk about the price of oil. Invitations went out to countries that produce oil and to countries that consume it. The reason for the meeting is that the price of oil went up to $139 a barrel, the highest it has ever been.
The high price of oil affects just about everything. Gasoline is made from oil, which we need to drive our cars. Diesel fuel come from oil, we use that to drive the trucks that ship our food and goods around the country. We use oil to heat our homes, even to make the plastics that make up some of our clothing, furniture, and wrap our food. So rising oil prices make everything more expensive.
It's hard to tell what's making the price of oil so high. One reason is that countries like India and China are using much more than they used to. Another reason is that most countries that produce oil can't pump it any faster than they already are. Saudi Arabia is one of the few countries that could pump more oil right now. But the Saudis insist that supply and demand does not completely explain why the oil is so expensive right now. If they do increase their oil output, it will be big news at the meeting.
I'm Michelle and that's what happened in the world this week!
Play Pinpoint and see if you can locate the countries mentioned in my story.
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