2. International Age Of Petroleum Flashcards
1
Q
What is petroleum?
A
- BOTH oil and gas
- normal extraction will be mixture of both
- BOTH energy and a resource
2
Q
The Petroleum Chain
A
Upstream (extraction) — Midstream (moving) — Downstream (selling)
3
Q
What was the Gulbenkian Line?
A
British secretary of War declared secretly that capturing oil reserves was a ‘first class war aim’
4
Q
Hitlers view on oil
A
Hitler said ‘unless we get the Baku oil, the war is lost’
Stalingrad- 30 miles to go, 20 miles of fuel
5
Q
Three-fold Role of State
A
- As owner of the resources maximise benefit to the people
- To establish, maintain and enforce a suitable regulatory system
- To manage the fiscal growth associated with petroleum exploitation in a responsible manner that benefits the citizens.
6
Q
Minor Participation
A
- minimal intervention
- state assumes role of referee in exploitation of resources
- state primarily engages in the enforcement of laws and regulations protecting workers and the environment.
- also regulates distribution of offshore provinces to oil companies
- companies are left to exert control over field development plans.
7
Q
Moderate participation
A
- Regulatory intervention- comprises the role of the state as an overseer of petroleum activities
- state involved in the day-to-day operations without it actually engaging in it.
8
Q
Major participation
A
Participatory intervention - involves sharing state entering into petroleum industry as a shareholder + active participant
- state maintains all of its duties as a regulatory but also assumed role in the petroleum industry.
9
Q
Which country has a minor participatory state?
A
Australia
10
Q
Which state has a moderate state participation?
A
UK
11
Q
Which state has a major participation?
A
Norway
