Brief presentation of the wordl fossil energy market

Preda Andreescu Mihaela ()
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Preda Andreescu Mihaela: Academy of Economic Studies – Bucharest, Romania

Annals of Faculty of Economics, 2008, vol. 1, issue 1, 161-169

Abstract: The beginning of the third millennium brought the globalization of the worldwide energy market. The fossil fuels, especially petroleum resources are, generally, limited and concentrated in few regions and the world energy market becomes more and more dependent of some “key regions”: the Middle East, the Caspian Sea Region, Russian Federation-Siberia. The great consumers try to consolidate their position in the regions reach in energy resources. And this is happening while growing economies, such as China and India begin to dominate the global demand for energy and push higher the oil prices worldwide. World market energy consumption is projected to increase by 57 percent from 2004 to 2030. China and India together account for 45 percent of the increase of the energy demand.

Keywords: fossil fuels; reserves-to-production (r/p) ratio; producers; suppliers; consumption (search for similar items in EconPapers)
JEL-codes: F02 F23 L71 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2008:i:1:p:161-169

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