Measuring Energy Security

12:15 PM Posted by Baris Sanli
"Measuring Energy Security: Trends in the diversification of oil and natural gas supplies" by Gail Cohen, Frederick Joutz and Prakash Loungani is an interesting paper to read. They took several indices (supply, imports, political risks, size of importer countries and distance between capitals ) to measure energy security for natural gas and oil

What is interesting was the trend for oil in the computed index(there is a decrease till 1999 and a rebound in 2003.) Also keep in mind:
"For about two-thirds of the countries, there has been a decrease in CSI values – an
increase in measured energy security – between 2000 and 2008. [...] For quite a few countries, the decrease comes about not so much because of mere diversification in the sources of energy supplies but because of the lower political risk associated with some of their suppliers.", p14
My critique: "it is not just the fuel per se, but the importance of fuel in the main consuming sector and the critical level of this fuel for this sector. See for example transportation and its dependence on oil,

Reference:
http://www.imf.org/external/pubs/ft/wp/2011/wp1139.pdf


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