The Economics of Energy Security
Journal: Annual Review of Resource Economics
Year: 2014

Energy security is the ability of households, businesses, and government to accommodate disruptions in supply in energy markets. This survey considers the economic dimensions of energy security and political and other noneconomic security concerns and discusses policy approaches that could enhance US energy security. A number of points emerge. First, energy security is enhanced by reducing consumption, not imports. A policy to eliminate oil imports, for example, will not enhance US energy securi