19 April, 2020

The world's energy order is changing — and China is set to reap the strategic benefits

There have been many articles written about the social changes that may occur in the aftermath of the Great Shutdown.
artists depiction of the Port Augusta wind farm, multiple turbines from a distance
Australia has been singled out as a potential new energy leader.
But one major change is already upon us, and it's being powered by forces that began years before the coronavirus emerged.
It's occurring inside the global energy system.
Since the 1960s, a cartel of 14 oil-producing countries, the Organisation of the Petroleum Exporting Countries (OPEC), has controlled a huge amount of the world's oil supply.
In recent years the group has expanded, forming a super cartel with 10 non-OPEC countries, called OPEC+, to control roughly 55 per cent of the world's supply.

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