By Rough Guides
ISBN-10: 1848364121
ISBN-13: 9781848364127
The tough advisor to the power trouble is a entire advisor to the workings of brand new strength global, explaining the seductive nature of fossil fuels and the explanations why overseas weather swap negotiations are proving so tough. in case you are attracted to escaping the seize of fossil fuels and relocating to a low carbon international, this is often the advisor for you. Realistically taking a look at the pitfalls, pressures and customers for renewable strength, "The tough consultant to the strength obstacle" additionally indicates that there's desire in new strength conservation recommendations, made attainable through clever grids and shrewdpermanent metering. you are going to additionally become aware of strength protection concerns and destiny tensions which can happen, just like the risk of the lighting going out, jeopardising public help for a global of purifier power.
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Additional info for Rough Guide to the Energy Crisis (Rough Guide Reference Series)
Sample text
And it would help the cartel if its members did not treat their oil-production figures as state secrets. But perhaps the world should be grateful that OPEC is not more disciplined in its quota decisions. Such decisions, instead of smoothing oil-price movements, can sometimes seriously aggravate them. The classic case was OPEC’s 1997 decision to ignore the effect of the Asian crisis of that year and to increase oil production, in a way that triggered a collapse of the oil price in 1998. The decision to ignore the Asian downturn was all the stranger given the fact that OPEC took the decision in Jakarta, one of the very few times that OPEC has met in Asia.
Imagine what would happen if governments were to add a comparable tax of up to eighty percent on the price of a foodstuff. People would rapidly change their diet and switch to other foods. At all events, there has been a tradition, for almost the entire 150-year life history of the oil industry, of maintaining price by regulating production. Ironically, considering the fact that US governments have often led the complaints about oil cartels, this tradition of oil cartels started with the Texas Railroad Commission and its equivalent body in Oklahoma: they imposed production quotas on oil producers to prevent them undermining their own livelihoods by pumping too much oil and driving the price of their product to rock-bottom.
But it is spare capacity, and the willingness to increase that spare capacity if necessary, that gives OPEC some influence over the market. In practice, this influence comes almost entirely from OPEC’s dominant member, Saudi Arabia. 5m barrels per day (mb/d), Saudi Arabia’s spare capacity exceeds the production of the next biggest producer, Iran (see table below). 43 Source: Centre for Global Energy Studies OPEC claims to want to keep oil prices just like Goldilocks’ porridge – not too hot and not too cold.
Rough Guide to the Energy Crisis (Rough Guide Reference Series) by Rough Guides
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