Skip main navigation

A shifting global energy landscape

A shifting global energy landscape
0.5
This week, we are going to examine current state of affairs of global energy supply and demand changes. Energy is often said to be the lifeblood of modern economies. As you know, Energy is essential to the functioning and growth of modern economies. In the two decades of the 21st century, the global energy system has underwent and is still undergoing revolutionary changes in terms of supply and demand. Why are Chinese and Indian energy consumption surging? Middle Eastern energy production is undergoing revolutionary changes. What’s happening to US unconventional oil and gas revolution? The goal of this 1st week’s class is to examine the current challenges and risks posed by the shifting global energy supply and demand.
49.4
Any discussion about energy must begin with supply and demand. There are significant changes about global energy supply and demand of today. In the past most of demand used to be coming from OECD, advanced economies. Global energy cooperation, therefore, was focused on how oil and gas could be supplied to Western, OECD economies without any disruptions. But OECD consumption is stagnating. Oil and gas consumption is declining from the OECD economies. In other words, the importance of energy from Western countries is declining. Instead the rise of new energy consumers in Asia transforming global energy, Japan and Korea have already been big energy consumers. But China and India are rapidly rising as new energy consumers.
97.2
In other words, China and India becoming a new energy demand center. A rapidly developing Asia is transforming global energy. Much more oil, gas, and coal will be consumed in Asia in the near future.

There are significant changes about global energy supply and demand today.

Energy demand growth has been stagnating in the Organization for Economic Cooperation and Development (OECD) countries. Demand has been centered in China but extends across developing Asia and India. The center of gravity in global energy demand is moving away from the Organization for Economic Cooperation and Development (OECD).

This article is from the free online

Global Resource Politics: the Past, Present and Future of Oil, Gas and Shale

Created by
FutureLearn - Learning For Life

Our purpose is to transform access to education.

We offer a diverse selection of courses from leading universities and cultural institutions from around the world. These are delivered one step at a time, and are accessible on mobile, tablet and desktop, so you can fit learning around your life.

We believe learning should be an enjoyable, social experience, so our courses offer the opportunity to discuss what you’re learning with others as you go, helping you make fresh discoveries and form new ideas.
You can unlock new opportunities with unlimited access to hundreds of online short courses for a year by subscribing to our Unlimited package. Build your knowledge with top universities and organisations.

Learn more about how FutureLearn is transforming access to education