2 - Oil

Summary

This chapter starts by outlying the key characteristics of oil use, including: i) The history of oil; ii) Where oil resources are currently located across the globe, also with a focus on the difference between conventional and unconventional resources; iii) Technological aspects of oil exploration, production and transport; iv) Global oil production, consumption and trade trends. It then analyses the geopolitical issues associated with oil, including: i) How changes in the locations of oil supply could affect global security; ii) How changes in the locations for oil demand could affect global security; iii) The current “chokepoints” in transporting oil supply to users, and how their risks could be addressed.