Analysis of the global energy resource market

Abstract

The paper analyses the global demand for various energy resources in recent years. Nowadays, qualitative and quantitative changes in structure of distribution and consumption of energy resources take place. The paper has reviewed a number of papers predicting two-fold increase in the global energy production market by 2040. A number of other papers also predict the shift of energy demand from the USA and EU countries to the Asian market. The paper presents percentage distribution of world’s energy requirements satisfied by the six types of resources among which oil, gas, and coil are still predominant. Some papers have stated that the demand for natural gas will continue to grow faster than the demand for oil or coil in the future. To confirm or deny this theory the authors have designed the mathematical model showing trends in demand for gas compared to the total demand for oil and coal; as a result, two different polynomial functions have been obtained with almost the same probability confirming this prediction. Trends in energy production and change of global energy demand across regions over the past twenty years have been studied. The studies show that, in general, energy production has been increased for the last decade. However, due to economic crises fluctuations, energy production in EU countries has abruptly decreased; it results in displacement of the EU countries from the market by the countries of the Middle East and the Near East. The paper also notes such important factors as decrease in solid fuel production in Great Britain; steady increasing importance of renewable energy sources for the last few years; reducing of the rate of nuclear energy development by some key countries; general lack of energy recourses in EU countries, etc.