6.4C Energy stakeholders Questions and Answers

6.4C Energy stakeholders Questions and Answers What are the four stakeholders of energy TNCs, OPEC, consumers and governments Examples of TNCs in the energy sector Gazprom (Russian) and PetroChina (China) What are TNCS involved in with energy A range of operations including: exploring, refining and transporting petrochemicals What does OPEC do + stat OPEC is an IGO that alongside the member countries exports oil and petroleum + OPEC producers control 81% of world's discovered oil reserves What is the mission of OPEC to unify policies to make sure the oil market is stable What do national governments do Try to secure energy supplies for their country and achieve energy security How are national governments changing the energy supply As some governments are trying to reduce CO2 emissions and fossil fuel reliance What is the role of consumers Create demand with their purchasing choices - usually based on price What can happen to the consumer needs as they become richer They may prefer more environmentally friendly sources of energy, e.g paying tariffs on non-renewable energy that is used for carbon-offset What are the four factors of energy security Availability Accessibility Affordability Reliability What is the ideal situation for energy security When the national demand is completely domestic explain domestic and foreign energy Domestic = home country foreign = imported explain primary and secondary energy Used as a raw material = coal Secondary = formed by conversion of primary energy e.g electricity or petroleum