Oil Security in an Increasingly Insecure World
Oil Security in an Increasingly Insecure World
This chapter outlines the concern for oil security as there has been a curious resurgence of petro-nationalism, with key consuming countries such as China attempting to forge bilateral trade agreements to be assured of future oil supplies. Even with an omniscient foreign policy, there are very real constraints on the ability of the United States or any external power to stabilize the Middle East. In the absence of government intervention to control prices, a causal chain runs from an oil disruption to an oil price spike and then to a reduction in economic output. Failing to comprehend the implications of a single integrated world oil market and the expandability of oil supplies and oil substitutes, policymakers continue to adopt petro-nationalist policies. It is imperative that policymakers come to view markets and globalization as allies, rather than as enemies, in the struggle for energy security.
Keywords: oil security, petro-nationalism, oil supplies, oil price, oil market, policymakers
Yale Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.
