This graphic contrasts the price range of electricity costs stemming from renewable sources with that of fossil fuels for the years 2010 and 2016. For more on the interplay between technological innovation and the geopolitics of energy, see Severin Fischer’s chapter for Strategic Trends 2018 here. For more CSS charts, maps and graphics on economics, click here.
The past decade has brought ground-shaking changes to global energy markets. The unconventional fuel boom has unexpectedly reduced U.S. dependence on oil imports, while in the Asia-Pacific region, energy-constrained nations are increasingly reliant on foreign sources to meet their soaring demand. With the U.S. slated to export liquid natural gas (LNG) to Asia as early as 2017, a new energy era has come.
The shifting landscape is forcing countries such as Japan, South Korea, and China to rethink regional cooperation on energy issues such as strategic oil stocks, and technological and institutional coordination, said Mikkal E. Herberg, senior lecturer at the University of California, San Diego, and research director of the Energy Security Program at the National Bureau of Asian Research, at a Capitol Hill event on February 24.
China is financing the construction of Kyrgyzstan’s first major oil refinery, and excitement is building in Bishkek that the facility could enable the Central Asian nation to break Russia’s fuel-supply monopoly. At the same time, some observers express concern that the project may stoke local resentment, or become enmeshed in political infighting.
The refinery in Kara-Balta, about two hours west of Bishkek, is expected to produce 600,000 tons of fuel annually, enough to end Kyrgyzstan’s dependency on Russian imports, currently pegged at 1,150,000 tons a year, according to the State Statistics Committee. Slated to receive crude piped from Chinese-run fields in Kazakhstan, the project, operated by a smallish Chinese state-run entity called Junda, has already witnessed regular environmental protests and labor disputes, which one lawmaker claims are backed by opposition politicians bent on using the facility as a weapon in a political struggle against the government.