Energy : Subject of Economy and Security
Energy, which till date since the replacement of wood by coal in 1709 to electrification of vehicles has fueled the global economy and has transformed the geo-politics around the globe will have two eras in the modern world before ‘COVID-19’ and after ‘COVID-19’. COVID-19 forced countries to re-think their energy strategy, and the question of when Oil&Gas will run out of supply has transformed into when it will reach its peak demand. The subject of Energy has created new relationships among countries, Europe has developed economic relations with Russia and Ukraine with Nord Stream Project being most significant one. China which imports more than 70% Oil&Gas of its domestic consumption has got hold on to various central Asian countries’ Oil and also pivoted to Russia who shares similar political system and similar objective of challenging the USA dominance in the world. USA on the other hand has become one of the top 3 producers along with Russia and Saudi Arabia of ...