Carbon EQ2 - Consequences of increasing energy demand Flashcards
What is energy security?
The uninterrupted availability of energy sources at an affordable price
What is the difference between long and short term energy security?
Long term - timely investments to supply energy in line with economic developments and environmental needs
Short term - ability of the energy system to react promptly to sudden changes in balance between supply and demand
What are the 4 important aspects of energy supply?
- availability
- accessibility
- affordability
- reliability
What is energy intensity?
A measure of how efficiently a country is using its energy - calculated as units of energy used per unit of GDP
How is energy consumption expressed?
Per capita in terms of
- kg of oil equivalent per year
- gigajoules per year
- megawatt hours per year
What is energy mix?
The combination of different available energy sources used to meet a country’s total energy demand, and important component of energy security.
What is consumption of energy rising?
Due to development, rising living standards and population growth
What factors affect access to and consumption of energy resources?
- physical availability (domestic vs imports)
- cost (physical exploitation, processing, delivery)
- technology
- public perception (based on level of economic development and standards of living)
- climate (colder places need more heating)
- environmental priorities
What is an energy pathway?
The route taken by any form of energy from its source to its point of consumption
Where do different players fit on the spectrum of energy supply and demand?
Energy supply - energy companies, governments of energy producing countries (OPEC)
Energy transport - TNCs, shipping companies, pipeline controllers
Energy demand - TNCs, energy companies, governments, consumers
Who are the 5 major players in the world of energy?
- TNCs
- OPEC (Organisation of Petroleum exporting Countries)
- consumers
- governments
- energy companies
What is the role of TNCs in the supply and demand of energy?
- explore, exploit and distribute energy resources
- own supply lines, invest in distribution and production of raw materials
- respond to market conditions to secure profits for their stakeholders
What is the role of the OPEC in the supply of energy?
Permanent IGO - 13 member countries who own between them 2/3rds of the world’s oil reserves
- co-ordinates and unifies petroleum policies of its members to ensure stabilisation of oil markets
What is the role of governments in the supply and demand of energy?
- guardians of national energy security
- influence sourcing of energy for geopolitical reasons
- provide legislation on emissions levels and costs for consumers
- protect energy pathways to and from the country (supporting economic growth)
What is the role of consumers in energy demand?
They create demand - purchasing choices often based on price/cost issues
- largely passive players in determining/fixing energy prices
What are the causes of mismatch between fossil fuel supply and demand?
- physical geography influences supply and where resources are found
- human development influences demand (consumption higher in more affluent urbanised areas)