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Lecture 9

ECON366 Lecture 9: Global Energy Supply - OECD Power Supply
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2 Pages
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Department
Economics
Course Code
ECON366
Professor
Dana Andersen

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ECON 366Lecture 10Global Energy Supply OECD energy supply Used to represent developed countries Chart analysis 1. Stable coal production, and the growth of coal production were most among developing countries but not developed countries 2. Reason of lower coal consumption: the displacement of electricity generation 3. The global oil production remains constant, and some countries has reduced the oil production but Canada, Norway and New Zealand increased the oil production 4. The share of oil production decreased in OECD countries, but the share of both natural gas and nuclear power increased Regionally energy supply Chart A: Total primary energy supply from 1971 to 2012 by region (Mtoe) Players: OECD, Middle East, NonOECD Europe and Eurasia, China, Asia, NonOECD Americas (Venezuela, Brazil), Africa and Bunkers (Source: International Energy Supply, 2013) Conclusion 1. Around 1971, the market concentration was on OECD countries, and both OECD and NonOECD Europe and Eurasia produced the most energy supply 2. The great energy supply growth of the coal, oil, natural gas and hydro power in China due to the huge economic growth and electricity demands 3. The share of TPES increased in China, Asia, Middle East and Africa, while decreased in other countries Regional crude oil supply 19712012 Chart analysis: 1. The production of crude oil was not smooth in the Middle East due to some policy decisions (As the restriction of oil supply in OPEC) 2. There was the great recession in 2008 3. China depends highly on oil imports 4. The global share of crude oil has increased, and China has increased its share of crude oil while other regions have remained constant Statistics of ranking top oil producers, top net oil exporters and net oil importers Table A
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