Lowy Institute advises G-20 on geopolitical energy competition
The G-20 is well placed to help prevent energy insecurity from fuelling geopolitical competition, according to the Lowy Institute’s Anthony Bubalo and Mark Thirlwell in The Sydney Morning Herald (16/11/2006, p.13).
Importers need soothing: "First, energy importers need to be reassured that they can rely on the market rather than aggressive energy diplomacy to deliver reliable supplies. This means more work to smooth out wrinkles in global energy markets," they said.
Cooperation for supply safety: "Second, more could be done to promote strategic cooperation between major energy consumers, such as common efforts to improve the security of the long sealines along which much of this energy is transported.
Rules to lessen conflict : "Third, we need consensual rules for the interaction of both new and old players in the Middle East and other volatile energy-producing regions to ensure that energy-driven diplomacy does not exacerbate existing conflicts or create new ones."
Where buyers meet producers: The G-20 would be equipped to pursue these goals since it includes all the world’s major oil consumers along with key oil producers such as Saudi Arabia and Russia, said Thirlwell and Butra, co-authors of a new institute policy brief, New Rules for a new Great Game: Northeast Asian energy insecurity and the G-20.
The Sydney Morning Herald, 16/11/2006, p. 13
Source: Erisk Net