The general impression is that Iran has gained tremendously from rising oil prices, fuelled by its vast oil wealth. In reality, however, given increased domestic consumption coupled with inefficient usage and subsidies, Iran is actually struggling to produce enough oil and gas for export. Without substantial upgrades Iran's oil production is expected to go through a gradual decline. Though Iran has abundant oil reserves, estimated at around 137 billion barrels, it has not even been able to generate its OPEC quota due to lack of technical expertise and skills.

In January 2007, when the Iranian Supreme Leader Ayatollah Khamenei suggested to the Secretary of the Russian Security Council, Igor Ivanov, that the two countries should explore setting up an OGEC or an organization of gas exporting countries similar to OPEC, Ivanov dismissed it as a "general idea" and not a "proposal for discussion".

Sir Nicholas Stern, former chief economist of the World Bank and head of the British government's economic service, and his team submitted the report titled The Economics of Climate Change in October 2006. The report consolidates the research on the scientific evidence of climate change and concludes that evidence is now overwhelming: climate change is a serious global threat.

After his landmark speech on energy independence on the eve of India's 59th Independence Day, President Abdul Kalam emphasised upon the importance of alternative fuel development to surmount the growing challenges to energy security in his opening address at the Bio-Diesel Conference on June 9, 2006. His emphasis on energy independence places immense importance on India's energy security, as the country is increasingly dependent on imported fuels.

Russia is on the move to become an energy superpower by spreading its influence deep into Western and Eastern energy markets. Possessing the largest reserve of natural gas in the world, Russia's domestic and foreign policies have now come to be largely determined by the energy factor. Apart from the already existing market in the West, Moscow's plan to explore Asian markets was welcomed by the major energy consuming countries such as China, Japan, and the Koreas in the East Asian region.

The dispute over the price hike for Russian gas deliveries to Ukraine was settled on January 4, 2006 , when Russian energy giant Gazprom and Ukraine 's state oil and gas company Naftogaz reached an agreement on the supply of Russian natural gas to Ukraine through a joint-venture company Rosukrenergo. It focused international attention on Russia 's current policy shift and the mechanisms of its implementation.