Geopolitics Flashcards
What are the three major strategic challenges faced by the global energy system?
> the growing risk of disruptions to energy supply
the threat of environmental damage by energy
persistent energy poverty in ledcs
Why 2020 what will happen to China’s economy?
It will be bigger than the USAs.
As reserves of non-renewable fossil fuels continue to diminish, what scenarios are likely?
> European dependence on middle east oil will remain significant
Asian dependence on Gulf oil
US oil imports grow
natural gas continues to be the fastest growing primary energy source
growth of natural gas requires more major infrastructure investments
USA more reliant on imported natural gas
Russia is likely to expand its exports to Europe
use of sustainable renewable sources of energy will increase
What countries are projected to be the major suppliers in 2020 of oil?
Saudi arabia, followed by russia
What are the threats regarding the future security of oil supplies?
> leadership transition, economic reform and terrorism threats (saudi arabia and USA threats)
iraq faced UN economic sanctions (civil unrest and internal economic problems)
iran has an elected government but its policies are influenced strongly by religious leaders
OPEC has been successful in holding prices- lead to future price hikes similar to those of the 1970s
energy dependence on russia could create obstacles
Why are political developments in the middle east are of great importance to the energy security of the rest of the world?
Because the region possesses most of the reserves of oil and gas.
What prevents economic growth?
Trade restrictions and sanctions
Who dominates the international oil trade?
Tremendously wealthy and powerful TNCs.
What are NGOs working together to do?
Uncover payments that have been made to governments by international companies and to expose corruption, but transnational oil giants are effectively the neo-colonial masters of the world.
