Nevertheless, the reemergence of such substantial dependence needs to be a serious, ongoing concern for policymakers in Trilateral countries. Chapters II and III examine two broad areas in which Trilateral policymakers must continue to work together to limit vulnerability to disruption. Some voices in our countries doubt the continued utility of strategic petroleum reserves held by some Trilateral countries and devalue IEA-centered arrangements for coordinated responses to emergencies, for sharing in solidarity the pain of disruptions. Chapter III focuses on security in the Gulf region. The rise in dependence on the Gulf exporters will reinforce the importance of security in the Gulf region.
Energy security has three faces.
The first involves limiting vulnerability to disruption given rising dependence on imported oil from an unstable Middle East. The third face of energy security is the energy-related environmental challenge. The second face of energy security is the primary concern shaping Chapters IV-VI of this report. Chapter IV focuses on the energy policies of Trilateral countries. Chapter V focuses on energy investment and the broader energy outlook in Russia, Central Asia and the Caucasus.