Energy players Flashcards
TNCS
more economic value than a small country
can invest in large scale projects
- can bypass political tensions and access restricted sources
- inclined to invest in local infrastructure (benefits from faster transport links)
HOWEVER
-can encourage environmental degradation
exploit workers
unsustainable transportation (tankers lead to oil spills)
OPEC (IGO)
controls 81% worlds discovered oil reserves
exports oil and petroleum
aims to ensure stabilisation of oil markets
creates: efficient and regular supply to consumers
-steady income for producers
-fair return for those investing
What happened to OPEC in 2012-2016?
They put oil input high to compete with USA that were producing large amounts of oil via fracking
Flooding market caused collapse in global oil prices
-accused of holding back production to increase prices to increase profits for oil export nations
- detrimental to developing (manufacturing)
National Governments
-secure energy supplies and regulate private companies
-EU government trying to reduce CO2 emissions and dependency on fossil fuels
Consumers
-create demand via purchasing choice
-country richer and more educated leads to change in source they buy to fit needs
- energy companies have tariffs on imported/non-renewable, reduces insecurities and carbon offset
-money raised funds environmental work eg afforestation and carbon capture research
-consumers use tariffs= companies forced to move to green energy
