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Energy Security Issues

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Abstract

This chapter focuses on the economic issues related to energy security concerns . Security of supply issues have traditionally focused on oil price volatility and the disruption of supply due to fossil fuel depletion. The attention then shifted to threats to infrastructure and the possibilities of disruption due to inadequate investments in infrastructure or market manipulation by market players. The outlook for energy security has changed significantly post-economic crisis of 2008 due to oversupply situation and the rapid penetration of renewable energies. The contemporary thinking on energy security has moved away from the traditional focus and accordingly, this chapter explains the concept, introduces the economic dimension of the problem and discusses the policies that can mitigate the issue.

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Notes

  1. 1.

    This section relies on Metcalf (2013), Huntington (2009), Leiby et al. (1997), Toman (1993) and Markandya and Hunt (2004).

  2. 2.

    This part is based on Percebois (1989).

  3. 3.

    Section 403 of the Bipartisan Budget Act of 2015 has given authority to the Secretary of Energy to sell 58 million barrels of crude oil from the SPR over a period of eight years, starting from 2018. Similarly, Sect. 5010 of the 21st Century Cures Act has authorized the Secretary of Energy to sell 25 million barrels of crude oil from the SPR over three years from 2017.

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Authors and Affiliations

  1. Institute of Energy and Sustainable Development, De Montfort University, Leicester, Leicestershire, UK

    Subhes C. Bhattacharyya

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  1. Subhes C. Bhattacharyya
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Correspondence to Subhes C. Bhattacharyya .

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Bhattacharyya, S.C. (2019). Energy Security Issues. In: Energy Economics. Springer, London. https://doi.org/10.1007/978-1-4471-7468-4_14

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