Political economy instead of economic theory: return to the source (case of energy)
The experience of developed countries and the twenty-first century. shows that any theoretical assumptions are ultimately rejected by economic practices and policies if they are contrary to national interests. Thus, the relevance of the methodological approach peculiar only to political economy is confirmed, because it is this social science that continues to reflect the economic and creative potential of mankind in their inextricable unity. Systemic problems, especially in the face of increased turbulence in all political and socio-economic life, require systemic solutions. Once the resource base of developing countries has been brought under national control and management, The re-examination of access to their resources and the progressive strengthening of the position of TNCs and other energy groupings have largely determined a shift in the balance of power in hydrocarbon production. Currently, society is faced with such problems as sanctions, trade wars, the imperialist aggression of developed countries against developing countries, etc. Unfortunately, a large proportion of today’s people who are unfamiliar with political economic processes often turn an economic crisis into a financial crisis, which is little true. Therefore, the purpose of the article is to show, on the example of the energy market, that socio-economic relations in modern conditions are replaced by constantly created regulatory relations, limiting competition, under the pretext of preserving the natural-ecological balance, or energy independence. In the meantime, the world’s energy demand is growing with the rise in demand and the development of national production, which cannot be prevented even by periodic economic crises caused not only by economic problems, but also political.