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PEAK OIL

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integration84 of other value-added chain components in the oil sector and the smaller the<br />

share of oil traded on the global oil market becomes. As a conditio sine qua non for<br />

expanding economic supremacy, energy becomes considerably more important for global<br />

power shifts in the international system in light of peak oil.<br />

Role of private-sector and state actors<br />

Given the relative independence of private-sector actors, the developments described<br />

(package deals, political instrumentalisation of oil supplies, political peaking) require<br />

government intervention for the respective actions to be taken by either forcing private<br />

companies or engaging state-owned corporations. Another likely result of global peak oil<br />

would be greater government involvement in order to ensure control over the scarce<br />

resource. The following section (3.1.2) therefore addresses in more detail the change to the<br />

role of both state and private-sector actors that can be assumed in light of peak oil.<br />

84 Federal Cartel Office, Sector Analysis Fuels, Interim Report (Bonn, June 2009), 3, http://www.bundeskartellamt.de/wDeutsch/download/pdf/2009-07-<br />

02%20Zwischenbericht_SU_Kraftstoffe.pdf (accessed on 18 October 2010).<br />

33

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