Oil c/s

how much has global commercial energy production increased by in 2 decades

52%

what % does oil make up of as a source for energy

42%

greatest exporters of oil x3

middle east

russia

Latin america

greatest importers x3

western europe

usa

japan

why do some countries import and export oil

raw material- forms secondary products

products vary in value and so export valuable products, import cheaper ones

how much is world oil demand increasing by

1.8%

where is likely to see the greatest increase in demand x3

east Asia

china

Latin america

why an increase in demand x4

rapid economic growth

urbanisation

transportation needs

lack of gas infrastructure

greatest exporter and %

saudi arabia

25%

political implications of having dominant exporters

importer vulnerability inc- usually lics- depend on oil for economic development

political tensions can lead to price inc

opec and explanation

organisation of petroleum exporting countries

13

produce 40% of oil

oecd and explanation

organisation for economic cooperation and development

24 developed nations

consume 60% of oil

why have oil reserves lasted much longer than originally anticipated

opec-oecd connection

opec can manipulate prices/ consumption

predictions for world oil balance in future

oecd countries inc in dependence, especially on ME and venezuela

prices rise

political difficulties regarding investment

countries eg Iraq/Libya discourage foreign participation in oil industries but require capital investment to expand capacity

how much energy do developed nations produce that they consume

85%

what years saw Inc in oil prices and why

1973- oil embargoes from opecs on industrialised countries

1979- Iranian revolution

how have countries reduced their reliance on oil x2

renewable energies

increased coal production

how have countries tried to decouple economic growth from energy consumption x3

high energy prices

less energy intensive sectors

relocate energy intensive sectors to developed nations

what impacts do developing nations suffer when prices drop (as exporters)

limites debt servicing by highly indebted countries

slower development of eg health/ agricultural sectors

temporal change in india

energy use expected to quadruple over 25 yeras

difference in future for developed and developing

developed	developing
maintain energy security through Dec reliance on oil	Inc reliance on oil
pops tend to be stable so energy efficiency inc and renewables developing	diverts funds from other areas of development into oil trade
	vulnerable to price inc- inevitable