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Brief presentation of the wordl fossil energy market

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  • Preda Andreescu Mihaela

    () (Academy of Economic Studies – Bucharest, Romania)

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.

Suggested Citation

  • Preda Andreescu Mihaela, 2008. "Brief presentation of the wordl fossil energy market," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 161-169, May.
  • Handle: RePEc:ora:journl:v:1:y:2008:i:1:p:161-169
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    File URL: http://steconomice.uoradea.ro/anale/volume/2008/v1-international-business-and-european-integration/030.pdf
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    Keywords

    fossil fuels; reserves-to-production (r/p) ratio; producers; suppliers; consumption;

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

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