Lesson 7 - Energy Players

Question 1

What are TNCs?

Answer 1

State owned/part owned firms
Operate multinationally

Question 2

What is the role of TNCs within the global energy market?

Answer 2

Exploration
Extraction + Transportation
Refining + Production

Question 3

What is OPEC?

Answer 3

Organisation of Petroleum Exporting Countries
12 member organisation
Holds 2/3 of global oil supply

Question 4

What is the role/influence of OPEC?

Answer 4

Control of oil + gas reserves
Moderates global energy prices

Question 5

What are the roles of governments as an energy player?

Answer 5

Guard + influence energy security
Dictate sourcing of energy
Geopolitical influence

Question 6

What are the roles of consumers as an energy player?

Answer 6

Provide energy demand
Pertain to firm/TNC stipulations

Question 7

How do consumers influence global energy prices?

Answer 7

Little bearing over prices
Largely passive
Firms set => Consumers meet

Question 8

Who are the most valuable energy consumers?

Answer 8

Transport users
Domestic energy consumers
Industrial consumers

Question 9

What are the roles of energy companies as an energy player?

Answer 9

Convert primary energy into secondary resources
Distribute supply
Set consumer tariffs