Energy superpower

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An energy superpower is a nation that supplies large amounts of energy resources (crude oil, natural gas, coal, uranium, etc.) to a significant number of other states, and therefore has the potential to influence world markets to gain a political or economic advantage. It is used to describe Russia, and has been used with other countries, such as Saudi Arabia, Canada, Venezuela, Australia, and Iran.[1][2][3][4] [5] [6][7][8]

Energy superpower status might be exercised, for example, by significantly influencing the price on global markets, or by withholding supplies.[9] The status of "energy superpower" should not be confused with that of "superpower".

Energy superpowers[edit]

Russian natural gas as a % of domestic consumption.

Russia's reserves of natural gas have helped give it the title of energy superpower.[10][11] However, this status has been called into question by some. As Vladimir Milov, of the Carnegie Endowment for International Peace, says :

The "energy superpower" concept is an illusion with no basis in reality. Perhaps most dangerously, it doesn’t recognize the mutual dependence between Russia and energy consumers. Because of political conflicts and declining production, future supply disruptions to Europe are likely. As a result, European gas companies may likely someday demand elimination of the take-or-pay conditions in their Russian contracts. This would threaten Gazprom’s ability to borrow. Putin’s attempt to use energy to increase Russian influence could backfire in the long run.[12]

According to Manik Talwani, a geophysicist at Rice University, there are two countries that are most likely to attain the status of Oil superpower: Venezuela and Canada.[13] Citing their enormous potential reserves (1.2 trillion potential barrels for Venezuela and 1.75 trillion for Canada's oil sands), Dr. Talwani believes that they have the reserves to become energy superpowers in the next few decades as oil production declines elsewhere. However, as Dr. Talwani notes, both need 100 billion dollars or more to increase their production levels up to those of true energy superpowers.

Threats to energy superpowers[edit]

Countries where natural gas fields are located

In 2007, a new strategy emerged from al-Qaeda for fighting the United States. Rather than only targeting the U.S. interests directly in an attempt to cripple it, al-Qaeda considers cutting off the supply of energy to the U.S. to be a high priority.[14]

Says Ian MacLeod of the CanWest News Service, "A major supply disruption would send energy prices soaring. Had the Abqaiq attack been successful — guards fired on cars driven by the bombers, detonating the explosives inside — some experts say oil prices would have likely broken all records. A catastrophic hit could bring transportation and other parts of the U.S. and world economies to a standstill."[14]

See also[edit]

Notes[edit]

  1. ^ "How Russia's energy superpower status can bring supersecurity and superstability. Interview with Leonid Grigoriev". Civil G8. 2006. Retrieved 2012-02-05. 
  2. ^ "Saudi Arabia's first step towards clean energy technologies". UNDP. Retrieved 2012-02-05. 
  3. ^ Argitis, Theophilos; van Loon, Jeremy (2012-01-25). "Harper Builds Oil Link With China After Obama Keystone 'Slap'". Bloomberg. Retrieved 2012-02-05. 
  4. ^ "Australia inks massive energy deal with China". AFP. 2009-08-19. Retrieved 2012-02-05. 
  5. ^ Energy and the Iranian economy: hearing. United States Congress. 2006-07-25. Retrieved 2014-06-11. 
  6. ^ Luft, Gal (2007-07-05). "Iran's Oil Industry: A House of Cards?". IAGS. Retrieved 2012-02-05. 
  7. ^ Roohalahe, Ghabezi (2012). "Financial Evaluation of National Iranian Oil Company / Investment in the South Pars". Research Institute of Petroleum Industry, Tehran, Iran (American Journal of Scientific Research) 45: 76–84. 
  8. ^ Balamir Coşkun, Bezen (Winter 2009). "Global Energy Geopolitics and Iran". Uluslararası İlişkiler (International Relations Council of Turkey) 5 (20): 179–201. 
  9. ^ ""Russia Won't Act Like an Energy Superpower": Making Promises that Can't Be Kept". Global Events Magazine. 2006-09-15. Archived from the original on 2008-08-28. Retrieved 2012-02-05. 
  10. ^ How Sustainable is Russia's Future as an Energy Superpower?, by the Carnegie Endowment for International Peace, 16 March 2006
  11. ^ Russia: The 21st Century's Energy Superpower?, by Fiona Hill, The Brookings Institution, 5 October 2002
  12. ^ "How Sustainable is Russia's Future as an Energy Superpower?". Carnegieendowment.org. Retrieved 2012-02-07. 
  13. ^ Canada: The next oil superpower?, by Manik Talwani. The New York Times 2003
  14. ^ a b "Al-Qaeda calls for attacks on Canadian oil facilities". Ian MacLeod, CanWest News Service. 2007-02-17. Retrieved 2007-04-06.