Keywords: energy security, energy supply, energy demand, energy competition, foreign policy, China, energy investment, oil prices, international relations, Australia
Energy competition and international relations
Energy is the lifeblood of economies around the world. Global economic growth depends on adequate, reliable and affordable supplies of energy. Key foreign policy objectives, including support for democracy, trade, sustainable economic development, poverty reduction and environmental protection rely on the provision of safe, reliable and affordable energy supplies. Today's global energy market is increasingly influenced by the location of the resources and the political and economic environment of the region; growing demand from the developing world, particularly from China and India; manipulation of resources for nonenergy foreign policy objectives; and the lack of capital investment.