A safer world, even as global energy struggles abound | The National

A safer world, even as global energy struggles abound | The National:



"It may seem that the world is becoming a more dangerous place for energy. Geopolitical, military and revolutionary crises centre on oil and gas. The oil services giant Schlumberger now needs extra security in 20 countries, up from just two in 2001, as the Financial Times observed. Oil prices rose on the fighting in northern Iraq, then again on the news of the downing of the Malaysia Airlines flight in eastern Ukraine.



In Iraq and Syria, the “Islamic State” funds itself with looted oil. Libyan petroleum ports close and reopen in disputes over federalism and payments. Civil war in South Sudan threatens oilfields. Russia cuts gas to Ukraine as separatist fighting continues. Chinese and Vietnamese warships face off over a drilling rig in the South China Sea. Mexican drugs cartels siphon oil from pipelines and threaten to kidnap workers.



Yet despite these conflicts, the world has become a much safer place. From a peak during the 1980s, wars within and between states have dropped sharply since 1990. Even including the Syrian civil war, the death rate from political violence has fallen steadily since the 1970s. Oil price volatility has been exceptionally low over the past three years, and although prices remain high, there has not been a 1973 or 1979-style shock."



'via Blog this'