Geo-Politics of global oil and gas markets

The course primarily examines today’s global petroleum system—which fuels about 95% of all transport—and its geopolitical consequences. The USA’s role in this “one global barrel” market and in the collective, market-centred international energy-security system is a pillar of its superpower status and relations with OECD allies—esp. Japan, Germany and Europe generally. We examine the system's emergence, its institutions (IEA, OPEC and IEF), market behavior (supply, demand, price), energy strategies of China, Russia and OPEC states, and Gulf-region conflicts.