The price of crude oil halved in six months from July 2014 to January 2015 with differing impacts on the world’s various economies — improving the economic expectations of energy importers while reducing the rents of exporters. This kind of energy shock does not lend itself well to discussions of energy security, which is normally focused on risks of disruptions to supplies, seen through the eyes of consumers.
KAPSARC has kicked off a new Energy Workshop Series exploring the economics of energy vulnerability and extending the discussion from the impacts of disruption to include:
The impacts of volatility
The drivers of the energy mix
How decisions on the energy mix shape a country’s economic vulnerability