Part 3, geopolitics, examining the historical role of oil in arabisraeli conflicts, the u. In december 2016, opec and its oilproducing partners agreed to cut production by about 1. The merger was regarded by mol as a hostile takeover bid and it initiated a series of measures designed to defend its independence and position within the central european energy market. Geopolitics energy security crude export ban low prices. Geopolitics has never been an exclusively or even a predominantly academic formation. Resource nationalism there is no easy and immediate connection between resource nationalism or political instability and global supply of oil and gas. The trend toward more nationalistic and aggressive political behavior indicates global instability is on the rise. Michel collon, monopoly the region that comprises iraq, iran, kuwait, and saudi arabia is at the epicenter of the pending u. Business development unit, hosted a workshop at the columbia global center in paris to explore the intersection of energy and geopolitics in oil and gas markets, in climate policy, and across a range of crosscutting topics, such as national security and cybersecurity.
There is increasing economic literature studying the nature of conflicts and their relation to economics skaperdas, 2008. Sep, 2016 the new geopolitics of declining oil demand. Critical geopolitics international studies association. In september 2007 the austrian oil and gas company, omv, issued a declaration of intent to merge with its hungarian competitor, mol. With major changes in the frames of oil production, uncertainty about regimes and volatile oil prices, the impact of geopolitics and political understanding of the oil scene is more important than ever. Geopolitics of oil production and its environmental and economic impact.
The geopolitics of merger and acquisition in the central. Governance failures and geopolitical consequences article pdf available in geopolitics november 2016 with 576 reads how we measure reads. While this constitutes the majority of arctic oil and gas in unclaimed international territory, it only amounts to the equivalent of 6 months of u. Geopolitics exam notes definitions gottman defines geopolitics as the influence of geographical factors on political action physical geography. With the breakup of the soviet union in 1991, moscow lost some two million square miles of sovereign territory. Prices are up, but challenges remain for oil and gas. Geopolitical threats to oil and the functioning of the. Pdf the geopolitics of merger and acquisition in the.
Nevertheless, as far as the impact of geopolitical uncertainty on oil price dynamics is concerned, and to the best of our knowledge, there has been only very few studies that emphasize the. Geopolitics and geoeconomics are pounding down on the oil market, and the price seems to have no place to hide the latest barrage comes this week from the. Ey navigating geopolitics in oil and gas ey global. The geopolitics of merger and acquisition in the central european energy market eamonn butler department of central and east european studies, university of glasgow, glasgow, uk abstract in september 2007 the austrian oil and gas company, omv, issued a declaration of intent to merge with its hungarian competitor, mol. Geopolitics is the wildcard for oil right now, says energy aspects chief oil analyst.
After a winter that saw the price of oil drop to historic lows. So it is no coincidence that one of the top risks facing oil and gas companies, as identified by ey in our most. Nov 16, 2017 geopolitics is the wildcard for oil right now, says energy aspects chief oil analyst. Koichiro tanaka geopolitical events have so far shaken the world economy beyond spatial and temporal domains, as have those in the middle east. Geopolitics was also an ideology in the late nineteenth and early twentieth centuriesa selfconscious set of beliefs on which elites and leaders of the great powers acted. The issue of pipelines and the geopolitics of oil in uganda fig. It introduces fresh perspectives on the key issues of debate in the late twentieth century concerning discourse, power, gender and political economy. This report evaluates the energy and geopolitical shifts that have arisen from the production of shale gas and light tight oil in the united states. In december 2016, opec and its oil producing partners agreed to cut production by about 1. The new geopolitics of declining oil demand the experts wsj. The geopolitics of the energy transformation irena. Geopolitics is a central concern for the oil and gas sector and can be viewed as a source of. Introduction the oil and gas industry forms the engine of the worlds economy oil and gas are used as fuels in vehicles or home for heating. But the start of the process would need to be a russian leadership able to get its public to.
Us oil production makes waves geopolitical futures. Since oil prices started a plunge around the emergence of the isis as a new threat in syria and iraq, however, geopolitical factors have apparently lost their effect. Geopolitical news and analysis that covers all regions and the impact geopolitics has on people, the economy, health and the markets. Geopolitics and the study of international relations gokmen, semra rana ph. In the geopolitics of deep oceans, john hannigan examines the past, present and future of our planets final frontier. Amin, the directorgeneral of the international renewable energy agency irena, with the support of the governments of germany, norway and the. Austin chalk tight oil production for select plays. Despite conflict in the middle east and terrorist attacks from paris to san bernardino, oil prices plummeted. These measures, while intended to shore up mols defences in the face of. Impact of lower oil prices1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000. Regarding middle eastern geopolitics during the cold war, building a bastion against the. Study on energy supply security and geopolitics clingendael.
Most of these countries are members of the organization of the petroleum exporting countries opec. The geopolitics of water and oil in turkey throughout history, few nations have been as successful in leveraging their geographic location as turkey. Consequences of climate policy and unconventional oil and gas 3535 tracker 2011. Forty years of oil and gas geopolitics planete energies. Download as pptx, pdf, txt or read online from scribd. This is emphatically not because political developments are irrelevant for. Geopolitics is a central concern for the oil and gas sector and can be viewed as a source of both risk and opportunity. Apr 06, 2015 outline introduction oil and gas pricing geopolitics analysing geopolitical components various geopolitical factors impact of geopolitics 3. Energy security in the year of rising us crude exports, saudi arabias price war and the lifting of the sanctions against iran. Towards a critical geopolitics, in rethinking geopolitics, ed. Where does america stand in the new geopolitics of oil. Energy and geopolitics have always been closely linked. Several pipelines saudi oil output in the western export route to the ports on t he red sea, as well as to the north of iraq. Jun 24, 2015 geopolitics of oil production and its environmental and economic impact.
Russias perpetual geopolitics mayjune 2016 3 decade, russian president vladimir putin has returned to the trend of relying on the state to manage the gulf between russia and the more powerful west. Rather than the usual policy pablum, windfall is a smart, deeply researched primer on the subject. The geopolitics of india must be considered in the geographical context of the indian subcontinent a selfcontained region that includes india, pakistan, bangladesh and, depending how one defines it, nepal and bhutan. The geopolitics of oil revolves around abundanceinduced conflict, with rival oil producers competing to serve the. The geopolitics of oil in a carbonconstrained world. Necati polat august 2010, 226 pages this study seeks to examine the main theories and theorists of geopolitical imagining and argue for an intrinsic relation between traditional geopolitics and the. Crude oil production percent of total world production fig. This study on energy supply security and geopolitics was conducted by the clingendael. Iran nuclear crisis, the iraniraq war, the gulf war, the iraq war, and discuss policies of opec, saudi arabia, venezuela, mexico, and especially u. The geopolitics of merger and acquisition in the central european energy market article pdf available in geopolitics 163. Geopolitical threats to oil and the functioning of the international oil market giacomo luciani 1.
Yet, the worlds oceans are currently on a dangerous trajectory of decline, threatened by acidification, oil and gas drilling, overfishing, and, in the long term, deepsea mining, bioprospecting, and geoengineering. It begins by assessing how much the unconventional energy trend has already impacted energy, geopolitics, and national security. These measures, while intended to shore up mols defences in the face of an. In order to understand how the geopolitics of oil and gas may. While opec countries produce about 40% of the worlds oil, they hold 80. Geopolitics in oil and gas market linkedin slideshare. The question is important, as over 20% of the nations have experienced episodes of civil war in the current century blattman and miguel, 2010, and in many others there have been international wars, political unrest and terrorist attacks. The question only seemed to be how much higher would oil imports go as a share of total oil consumption. The geopolitics reader brings together the most comprehensive selection of readings on geopolitics, from classic accounts to emerging trends.
We all recognize that there is major focus on the trade balance at this time. Pdf the new geopolitics of oil jennifer s hunt, phd. This is a huge challenge for major oil producers, especially saudi arabia and russia. Main trends in international and european oil and gas markets. Geopolitics of oil production and its environmental and. Pdf on mar 15, 2012, mikhail molchanov and others published petroleum geopolitics find, read and cite all the research you need on. Assuming that strict carbon limits will be imposed as a result of expected climate change, they believe oil markets will face a structural glut. Huge inventories dampened fears that instability and conflict could disrupt supply. By the end of the week, the kneejerk rally in oil prices triggered by news of the downed fighter had dissipated. We call the subcontinent selfcontained because it is a region that is isolated on all sides by difficult terrain or by. Michel collon, monopoly the region that comprises iraq, iran, kuwait, and saudi arabia is at. A new world 2 the commission aware that the growing deployment of renewables has set in motion a global energy transformation with significant implications for geopolitics, adnan z.
Gearoid o tuathail and simon dalby, rethinking geopolitics. Oil prices are at the mercy of geopolitics financial times. Forty years of oil and gas geopolitics the oil and gas markets are intrinsically linked to political and military developments worldwide, with trends influenced by such events as the wars in the middle east, the asian and subprime crises and political upheaval in oil and gas producing regions. As the center of two of the most powerful civilizations of all time, the byzantine and ottoman empires, turkey was the bridge between east and west, a. Crude oil prices react to a variety of geopolitical and economic events 2 price per barrel real 2010 dollars, quarterly average low spare capacity. Since oil prices started a plunge around the emergence of the isis as a new threat in syria and iraq, however, geopolitical factors have apparently lost. It was the thinking behind the imperialism of that period, the logic for the acquisition of colonies with specific geographical locations. The shale revolution has been a major stimulus to the u. With oil prices relatively stable and substantial offshore discoveries being announced, these sound like good times for oil and gas companies. Oil supply in 2015 and 2016 consistently outpaced demand by 12 million barrels a day. Oil is produced in unstable regions oil import premium paid by u. Oil companies moving away from fossil fuels march 27, 2016 geopolitics101 6 comments when russia published its nuclear fusionfission hybrid technology last october 2014 here, it was meant to tell the world that they, together with china, are ready to move away from fossil fuel based energy source. Although geopolitical incidents often move oil prices in the near term, far too many pundits overestimate the longerterm importance of geopolitics on oil pricesespecially in. Apr 10, 2014 this report evaluates the energy and geopolitical shifts that have arisen from the production of shale gas and light tight oil in the united states.
Geopolitics has a fundamental effect on the level of global oil production and the access to oil. The geopolitics of global energy lynne rienner publishers. New energy, new geopolitics center for strategic and. The report then posits several possible energy futures that could emerge from the unconventionals revolution. Practical geopolitical reasoning in american foreign policy, political geography, vol. Apr 05, 2018 with oil prices relatively stable and substantial offshore discoveries being announced, these sound like good times for oil and gas companies. Pdf this paper provides a comprehensive overview of how climate policy and unconventional oil. But, in a decade, we have gone from importing 60% of our oil down to just 16 %, on a net basis. Global commission on the geopolitics of energy transformation and do not necessarily. While these are relatively substantial drops, they are just one part of a continuing trend stratfor has been. Cold war world, the domain of geopolitics now touches upon some of the most hotly debated issues of our time, including global environmental degradation, ethnonationalism and postmodernism. These ambitious projections are always based on the success stories of oil money in other countries without prejudice to the fear of the infamous oil curse that results from poor exploitation of oil revenues. The new geopolitics of declining oil demand the experts. The shifting geopolitics of oil and gas house docs.
28 1453 237 759 614 760 1135 891 1011 191 33 463 697 681 80 1226 425 317 908 1358 1283 1231 349 1353 368 824 415 388 1246 1108 131 634 624 835 324 1302