Energy Development of the World: A Review

Global energy security is facing multiple challenges under the pressure of geopolitical tensions and climate action. The Strait of Hormuz transports about 20% of the world’s oil and liquefied natural gas (LNG) every year, but geopolitical instability in the region could pose serious risks to the energy supply chain. Although the new plan between the United States and Qatar can increase LNG supply by nearly 50% by 2030, rising costs and demand fluctuations in emerging markets may limit the efficiency of supply allocation. The issue of over-concentration in the clean energy supply chain cannot be underestimated. Take solar photovoltaics (Solar PV) and lithium-ion batteries as examples. Their supply chains are susceptible to geopolitical and trade restrictions. Since 2020 Nearly 200 trade restrictive measures have been implemented since then. In 2024, the global energy system is undergoing a major transformation period. Affected by multiple influences such as technological progress, policy promotion, and market demand, the demand for clean energy is growing rapidly, and the energy structure is gradually transitioning from fossil fuels to mainly renewable energy, changing the global energy structure.