There are a number of players involved in global energy security; they are Trans-National Corporations Organisations such as OPEC, National Governments and Consumers. All of these players are stakeholders in the energy market and have varying degrees of importance and influence.Energy resources are not evenly distributed across the globe, certain factors such as geographic location/relief of the land, economic ability for extraction, technology available and demand for said resource. The Middle East and Africa are the richest regions in Oil, the Middle East, Europe and Eurasia are richest in gas, and North America, Pacific, Europe and Eurasia are richest in coal.
Oil is one of the biggest and most widely used fuels for generation of secondary energy (energy produced usually by combusting fossil fuels), the Middle East, OPEC, the oil cartel, has a very key role in determining price by managing supply in its member countries – this has led to price shocks in the past, as well as periods of very low prices. It controls 2/3rds of world’s oil reserves, making it a very powerful player. This abundance of resources, such as 22% of the Earth’s oil reserves being in Saudi Arabia means that they are major players who are very much in control geopolitically as they control access to these resources and are able to dictate cost and supply. Russia is second to Saudi Arabia in terms of oil production, producing just below 12% of the world’s total oil. This is an example of a cartel (OPEC) whereby individual companies for resource production group together in one organisation and therefore hold a great deal of influence and importance in the global energy market and global energy supply. Furthermore they are possibly one of the most important players in the energy market as they are able to dictate who they supply too.
TNCs are responsible for exploration, and production