Assess the Relative Importance of Named Players in the Global Supply of Energy.

500 Words2 Pages
There are many players involved in the global supply of energy ranging from global to national to local levels. Globally, TNC’s are a big role in the supply of energy as they are responsible for the exploration and production of oil and gas supplies. For example, the companies BP and Shell are well known oil companies so they have to ensure that supplies are secured as their investment ensures future supplies. Due to the companies being profit driven, the global supply of energy tends to be spread evenly worldwide by TNC’s which is beneficial for different countries as they will have an energy supply. Another global player are the OPEC nations. These nations have major reserves of oil, therefore can set the price of oil in its member countries. This has led to prices of oil changing, having periods of very high prices and periods of very low prices. For example, Saudi Arabia has 22% of worldwide oil reserves, meaning they can sell their oil globally to countries with smaller oil reserves meaning they can make a large profit. Nationally, different Governments are involved in the global supply of energy. They have a role to conserve as much energy as possible so supplies don’t run out as quickly. Monitoring, setting drilling and exploration licences and providing national policies on oil and fuel availability are some of the ways the government are important players in the supply of energy globally. In the UK for example, the government has provided different places with nuclear power stations as an alternative to using other energy supplies. Nationalised companies such as Gazprom also provides energy supplies worldwide. Gazprom controls 1/3rd of the world’s gas reserves and accounts for 92% of Russia’s gas production. This company therefore is very important in the global supply of energy and without it, Russia could be experiencing a large shortage of energy
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