Business, Finance & Economics

Global energy economy

Klaire says there are two kinds of rising powers: " ...those countries like Russia which have such a surplus of energy that they’re in a powerful position. But then countries like China and India have such strong economies that they’ve become powerful bidders in the energy market. So the U.S. is at an extreme disadvantage right now.

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"This is part of a new structuring of world economic and energy power: on one hand, the energy have-powers like Russia and Iran are trying to strengthen their grip on the world’s energy. So there are whole new networks forming that are reshaping the world’s energy marketplace.

Klaire also talks about China's increasing appetite for energy and how it's like to turn to coal, and how the U.S. and China should collaborate on energy saving methods: "China relies on coal for about 70% of its energy input and unfortunately they’re not even using the most advanced coal burning techniques, the kinds that produce a lot of pollution.

"There’s talk of cooperation with China and talk about the new kinds of technology that will be adopted. It will be costly which is why the U.S. and China should work together to share the burden."

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