Key players

• TNCS:

  • EDF = 85% state owned
  • Aramco = largest market cap in 2023
• TNCS:

  • Own supply lines & invests in distribution
  • Petrobras, Petrochina, BP, Shell, Aramco
• OPEC:

  • Power back to nations and artificially controls prices - cartel
• OPEC:

  • 2016 = 1/3 of market share of oil and accounts for 80% of reserves
• OPEC:

  • Not all countries do as told. And US increasing production to make up difference
• OPEC:

  • Israel & US war - oil embargo
• Governments:

  • Ensure energy security & demand
  • Regulating companies & ensuring env priorities
• Governments:

  • UK offshore wind farm built by Chinese company - reliance on enemy
• Consumer:

  • Creates inelastic demand
  • Increasing demand for electric cars
  • Subsidies for heat source pumps and solar panels