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.
KeywordsEnergy security Vulnerability Economics Policies Strategic reserve
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