Players In Energy

Question 1

OPEC Countries (Oil and Petroleum Exporting Countries)

Answer 1

Control price of oil to meet global energy market (demand increase = price increase)

By decreasing production, they can create a price increase, which benefits the country, but not consumers

Aim to stabilise oil market and stop extreme price fluctuations

Collectively responsible for 81% oil reserves

Countries involved = UAE, Saudi Arabia, Iran, Venezuela etc..

Question 2

Consumers

Answer 2

Create the demand for energy

Able to protest e.g. Just Stop Oil, meaning if enough people do this demand can decrease

Question 3

TNCs

Answer 3

Explore, exploit and distribute energy

Process the raw materials

E.g. BP, Shell, Mabil

Question 4

National Governments

Answer 4

Set environmental priorities e.g. moving away from fossil fuels

Secure energy supplies for nations present + future

Regulate the role of private TNCs e.g. prohibiting their operations of exploitation etc…