Geopolitics and Energy Transition 1

Jean-Pierre Favennec is a professor at Paris Dauphine University, France, as well as a consultant and energy specialist. He has published several books and articles on energy economics and geopolitics.

• Foreword to Géopolitique de l'énergie Published in 2008 — A Tribute to Jean-Marie Chevalier xiIntroduction xvChapter 1. Different Forms of Energy 11.1. Energy at the heart of the development of civilization 11.2. Energy: major stages and innovations in its history 21.3. Energy demand 31.4. 2020: Covid-19's impact on energy demand 51.5. Drivers of energy demand: wealth 51.6. Different forms of energy 81.7. The laws of energy 101.8. Electricity 131.9. Renewable energy 231.10. Oil: the reference energy 241.11. From oil exploration to oil marketing 281.12. Natural gas 381.13. Coal 421.14. Conclusion 45Chapter 2. The Energy Transition 472.1. Defining the energy transition 472.2. Why do we need an energy transition? 482.3. The main ways of combating climate change 502.4. The challenges facing renewable energies 632.5. The hydrogen solution 652.6. Is the energy transition possible? 662.7. Energy and sociology 722.8. International oil companies: "Beyond Petroleum 732.9. Conclusion 73Chapter 3. Energy Markets and Prices: Situation and Outlook 753.1. Introduction: markets and prices 753.2. An introduction to the electricity market 773.3. An introduction to the gas market 773.4. The first gas and electricity companies 783.5. The rise of interventionism after World War II 793.6. The 1970s: the resource issue and the economic crisis 803.7. The example of the UK energy sector 813.8. The example of the US energy sector 823.9. Towards a single electricity market in the European Union 833.10. Characteristics of electricity markets 853.11. Wholesale and retail electricity market 863.12. The electricity business 873.13. The price of electricity 873.14. The role of renewable energies in electricity markets 893.15. Historical trends in oil prices — price control by the majors and OPEC 893.16. Historical trends in oil prices: end of the 20th century 923.17. Historical trends in oil prices: 2000-2014 933.18. Historical trends in oil prices since 2014 963.19. The impact of oil prices on demand 983.20. High oil prices: how do they affect supply? 993.21. Who will make the necessary investments in exploration and production? 1003.22. Prices of petroleum products 1023.23. Pump price: taxes on petroleum products 1033.24. Oil and taxation 1043.25. Price of natural gas 1063.26. Price of coal 1093.27. The uranium market 1093.28. Oil reserves 1103.29. Unconventional oil reserves 1133.30. Concentration of hydrocarbon reserves 1153.31. Conquest of the Arctic 1163.32. Exploitation of the seabed's soil and subsoil resources 1173.33. Natural gas reserves 1173.34. Coal reserves 1183.35. Uranium reserves 1183.36. Future energy needs 1193.37. Pollution issues 1213.38. Accidents 1243.39. Conclusion: an uncertain outlook; future energy needs 131Chapter 4. Structure of the Energy Industries: Security of Supply 1334.1. Introduction 1334.2. Natural monopolies and effects of size 1334.3. The petroleum industry: international oil companies and national oil companies 1344.4. The oil industry: post-war years and the creation of OPEC 1364.5. Nationalization in oil-producing countries 1364.6. The years 1980-1990: OPEC's loss of power — members' interests diverge 1374.7. Back to liberalism 1384.8. Situation in developing countries 1394.9. Ethics and energy 1404.10. Other often forgotten players 1414.11. Evolving strategies . 1444.12. Energy policies and security of supplies 1444.13. Supply security: solutions offered by the market 1464.14. How to improve supply security 1464.15. Means of supply 1494.16. Coal 1584.17. Threats to energy supplies: the risk of physical failure of transport networks 1584.18. Securing hydrocarbon supplies militarily 1624.19. Strategic stocks 1654.20. The energy transition and its strategic challenges 1704.20.1. Rare and critical materials 1704.20.2. Technology 1714.21. Conclusion 172References 173Index 177