World's Largest Encyclopedia On Your Mobile.


Energy superpower

The term energy [superpower] has several potential definitions that might be used relating to different contexts. In recent years, however, it has come to be used to refer to a [nation] that supplies large amounts of energy [resources] ( [oil] , [natural gas] , [coal] , [uranium] , etc) to a significant number of other states, and which therefore has the potential to influence world markets to gain a political or economic advantage. This might be exercised, for example, by significantly influencing the price on global markets, or by withholding supplies. The status of "energy superpower" should not be confused with that of " [superpower] " , as the nature of an energy superpower is defined very differently due to the non-military nature of an energy superpower's power base.

Energy superpowers project greater power than would be otherwise possible due to their lock on the exportable energy markets, and are becoming increasingly valuable to the global economy. In the [global commodities' boom] of recent years many of these states have benefited massively from increased production and prices.

Energy superpowers of the world
There are currently two "recognised" energy superpowers globally, both of whom have the largest reserves and production in the areas of energy they specialize in. [Russia] has the world's largest reserves of [natural gas] , and is the world's largest gas producer and exporter, while [Saudi Arabia] has the world's largest conventional [oil] reserves, and maintains the world’s largest crude oil production capacity (estimated to be around 10.5-11.0 million bbl/d). Actions taken by companies or the government in either state are enough to produce an immediate reaction in the stock market, although the markets have been known to second-guess Saudi Arabia's stated production numbers.


Pages: 1 2 3 4 5
Next next result set page

Free English Dictionary For Mobile.


» WikiWAP Main.
Back to Top
Please help us, spread the word about: