The scramble for energy fuels a new era of power politics

The bigger lesson is the extent to which rising demand for finite energy resources is already remaking the strategic landscape. This week’s [Ukraine/Russia] spat was a fragment of an altogether more disturbing picture. For now, Islamist terrorism, failed states and unconventional weapons pose the most visible threat to global security. Rival claims on scarce energy supplies will soon come a close second. Competition, though, will intensify. Take your pick from the official forecasts – most see demand for oil and gas rising by upwards of 50 per cent by 2030 – and one conclusion is irresistible. Even at present prices, the demand for fossil fuels will fast outstrip available supplies. More importantly, we are witnessing a profound change in the nature of competition among consumers.

Financial Times