The general oil market and the American oil policy

Résumé du document

Since the Industrial Revolution, energy is an international concern: one fifth of international trade of goods is the supply in energy of the companies. At the beginning of the century, oil became the most important energy source. Today, oil represents the most important share of the energy market. Indeed, it covers 40% of the world-wide primary energy offer. That's why, oil is considered as a "strategic" raw material. There is an important political dimension in the international oil relationship which leads to a more geopolitical vision of the international energy market than an economical vision. The oil issue being very political reached the highest point during the 1970's and the energy crisis. The most dramatic episode was the "Oil revolution" organized by the OPEC. After this crisis, the oil question appeared to be a national and international security stake. For the first time, energy stake divided the international political space between "friend and enemy". Whereas, some recommended military intervention against the country members of the OPEC, industrialized countries tried to react in creating the International Energy Agency. IEA was essentially a discussion and negotiation space between the states during in the elaboration of energy politics.

Extraits

[...] Then, the majors' share in the oil market was considerably reduced. However, after the oil price increase, the majors were able to exploit some resources which weren't profitable before. - The OPEC It was created in 1960 at Baghdad by several countries after a decision of oil companies to decrease the prices. The objective of the OPEC is the coordination of the oil policy of its members in order to save their interests and avoids fluctuations of the prices too important and harmful for the international community. [...]

[...] Between 1960 and 2004, international oil production and consummation have trebled. This position of the Persian Gulf's States is due to the competition of new countries and the supporting prices policy of the OPEC. Oil production per main countries or states groups since 1960, in millions of barrel per day The oil production of the some countries which started in the 70's has reached a maximum in term of capacity. The production of the United States tends to decrease. The slowing down of the production is compensated by an increase in the production of the Persian Gulf's states which also own the most important part of the available oil. [...]

[...] The major part of the exchange concerning oil comes from the Middle East and has for destination Europe, North America and Japan. But the importation which increases the most is the one from the United States and China. Generally, in order to be able to increase their importations the importing countries solicit only the Persian Gulf countries except the United States which solicit all their suppliers. Oil prices formation There not only one oil market but there are seven main oil market which are Rotterdam market, Mediterranean market, Middle East Gulf market, Extreme Orient market, United States market, North Sea market and Western Africa market. [...]

[...] There will be more trouble in Nigeria and Ecuador. Hotspots will get hotter with conflicts spreading far and wide. With so much happening, renewed conflict in little-known Chad - among the five poorest nations in the world but one with a billion in crude reserves - may not blip on our media radar. The Ides of March have passed and it has left us with bad omens for the coming months. The game of energy geopolitics is taking new turns and uncertainties, including the option of a tactical nuke attack on Iran's Natanz, Isfahan, and Bushehr complexes. [...]

[...] Think of the hundreds of thousands of miles of exposed pipelines around the world, and the cumulative number of years needed to repair them? If Iraq's oil and its pipelines can energize the current sectarian war, couldn't that be replicated in places simmering with ethnic and social tensions? Expect authoritarian governments to manufacture terrorism for the perpetuation of power. If you regard the USA PATRIOT Act as draconian, you haven't seen the world yet! Any bomb anywhere can be pinned on "terrorists" and sifting the real from the manufactured would be next to impossible with censorship laws established to prevent the transmission of coded communications. [...]