Changing pattern of energy and water consumption
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Peak oil: The point when maximum extraction of oil is reached and after which point the extraction of oil will reduce. Although peak oil production has been reached in some countries like the UK and the US, it is unclear whether global peak oil has been reached yet.
OPEC: OPEC stands for the organisation for petroleum exporting countries. It has 12 members and controls over 40% of the world's oil supply and over 20% of the gas supply. Its headquarters are in Vienna, Austria.
Monopoly: Any organisation, individual or company who controls enough market share to be able to influence the market place e.g. be able to reduce supply in order to increase prices.
OPEC: OPEC stands for the organisation for petroleum exporting countries. It has 12 members and controls over 40% of the world's oil supply and over 20% of the gas supply. Its headquarters are in Vienna, Austria.
Monopoly: Any organisation, individual or company who controls enough market share to be able to influence the market place e.g. be able to reduce supply in order to increase prices.
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