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● **Geopolitical Leverage**

Global Energy Hegemony War and Oil Market Analysis

1. Energy Hegemony and Changes in International Politics

The energy strategies of major countries such as the United States, China, and Russia are having a significant impact on international politics and the economy.
Since the opening policy in the 1970s, China has focused on diversifying its energy supply, securing stable import sources by establishing pipelines with Kazakhstan and Turkmenistan.
The United States is rapidly transitioning from an oil importer to a shale oil and LNG exporter, trying to take the lead in the energy hegemony competition.
At the same time, Russia is notable as a case of successfully diversifying its energy exports by utilizing demand from China and India despite its own sanctions.

2. Oil Price Fluctuations and the Role of OPEC

Through historical examples of oil price surges, such as the formation of OPEC in the 1960s, the Saudi oil shock in 1973, and the Islamic Revolution in 1978,
it can be confirmed that OPEC has been used as a price adjustment tool in the global oil market.
Recently, major oil-producing countries, including the United States and Russia, have attempted to control supply in the form of OPEC Plus.
The volatility of oil prices has greatly increased due to the pandemic, geopolitical conflicts, and the war in Ukraine.
Oil is a key driver of the global economic outlook and energy hegemony competition.

3. Expansion of LNG and Natural Gas Demand

Compared to oil, LNG is emphasized for its transportation efficiency and eco-friendliness, and demand is gradually increasing among consumers and industries.
In particular, U.S. LNG is accelerating its entry into the Asian market by securing price competitiveness through long-term contracts and spot markets.
Europe is actively introducing LNG and alternative energy resources due to issues with Russian gas imports.
These changes are important variables in the energy hegemony and global economic outlook.

4. Nuclear and Renewable Energy, and Diversification of Energy Supply

Korea’s electricity production relies on nuclear power more than the world average,
but due to the intermittency of renewable energy and the social and environmental problems of nuclear power, long-term alternatives are urgently needed.
In Europe, power grid stability is secured by integrating various energy sources (hydro, wind, solar, nuclear, etc.),
while Korea is difficult to cope with due to the imbalance in energy supply and demand and high consumption efficiency.
In the end, a balanced development of nuclear and renewable energy is needed along with the use of fossil energy (oil, LNG) to ensure energy independence and supply stability.

5. Energy Resource Management through Cases of Canada and Venezuela

Canada has low production efficiency due to insufficient transportation infrastructure and environmental regulations despite its huge oil sand reserves,
while Venezuela has not been able to properly utilize its vast oil resources due to political instability and nationalization policies.
These examples show that infrastructure, policies, and technology are decisive in the energy hegemony competition, not just the amount of resources possessed.

In the modern global economic outlook, the core keywords such as “energy hegemony,” “oil,” “nuclear power,” and “LNG” mean
that energy supply and demand and price fluctuations vary depending on the country and international situation, and strategic responses are needed.
Major countries such as the United States, China, and Russia are strengthening their economic and political positions through changes in the energy import and export structure and diversification of supply.
In addition, the active introduction of nuclear and renewable energy and LNG, considering eco-friendliness and economic efficiency, is expected to have a significant impact on the global energy market and economic outlook in the future.

Summary

Major countries such as the United States, China, and Russia strategically utilize oil and LNG in the energy hegemony competition.
The historical examples of OPEC’s oil price adjustments and recent market fluctuations confirm that oil is the core of the global economic outlook.
Balanced development of LNG, nuclear power, and renewable energy is important for stable energy supply and eco-friendly transition.
As seen in the cases of Canada and Venezuela, infrastructure and policies have a great impact on the use of energy resources.
In the future, it is essential to diversify energy supply and increase efficiency.

[Related Articles…]
Oil Price Analysis
Changes in Nuclear Power Policy

*YouTube Source: [와이스트릿 – 지식과 자산의 복리효과]

– 미국이 중국과 러시아를 힘으로 누를 수 없는 이유 / 양수영 전 한국석유공사 사장 (3부)