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1 – 10 of over 23000Fang Shuqiong, Yang Baoan and Yu Yin
The purpose of this paper is to provide a new mentality of constructing the evaluation index system on national energy security, in favor of analyzing its influencing factors and…
Abstract
Purpose
The purpose of this paper is to provide a new mentality of constructing the evaluation index system on national energy security, in favor of analyzing its influencing factors and coupling relations thoroughly.
Design/methodology/approach
The complex adaptive system (CAS) theory has provided one kind analysis method on modeling and simulation for question of the social economic system, which based on the adaptive agent and mutual interaction. In view of this, the authors' expect to use this kind of new research paradigm for reference, and construct the evaluation index systems on national energy security using the integration of CAS theory and pressure‐state‐response (PSR) conceptual model.
Findings
Constructs a set of compound index system of “six parallel layers, gradually converge, six layers three dimensions three degrees.”
Research limitations/implications
The evaluation index system on national energy security is in the discussion stage at present, and the comparatively systematic or accepted index system has not been established. So the further study on influencing factors and measurement indicator system based on multi‐dimension of national energy security, is the emphasis of the continued further research.
Practical implications
Constructing the evaluation index system on national energy security integrating PSR conceptual model from the perspective CAS.
Originality/value
Divides the carrier of energy security problem's happening into three energy domains (non‐renewable energy), and introduces the theory and method of CAS to construct the agent layer to carry on the multi‐agent gambling analysis. Simultaneously separately analyses the coal security, the petroleum security as well as the natural gas security using the concept framework of PSR.
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The purpose of this paper is to develop an integrated theoretical framework for energy security concept and to shed light on the policies and strategies applied by the European…
Abstract
Purpose
The purpose of this paper is to develop an integrated theoretical framework for energy security concept and to shed light on the policies and strategies applied by the European Union countries to confront the challenges that faces them.
Design/methodology/approach
The research paper uses Regional Security complexes theory, which mainly developed in Copenhagen school for security studies, that founded by Barry Buzan. This school tried to clarify the untraditional security aspects, through expanding its scope by adding new dimensions than military perspective.
Findings
Despite the consolidated efforts exerted by the European Union to assure safe levels of energy security, and their continuous pursuit to be liberated from Russian energy over dependence, but the results are still limited.
Originality/value
The value of this research paper stems from the fact that it encompass the theoretical aspect by shedding light on all the developments occurred to energy security concept, in addition to the Empirical side, by analyzing various European energy security challenges and their confrontation strategies.
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Emad Kazemzadeh, Mohammad Taher Ahmadi Shadmehri, Taghi Ebrahimi Salari, Narges Salehnia and Alireza Pooya
The purpose of this study is to examine oil price shocks on US shale oil supply and energy security during the period 2000q1–2020q4.
Abstract
Purpose
The purpose of this study is to examine oil price shocks on US shale oil supply and energy security during the period 2000q1–2020q4.
Design/methodology/approach
In this study, the Shannon–Wiener index was used to calculate energy security, and then a structural vector autoregression (VAR) was applied to measure the effect of oil price shocks.
Findings
The results of the variance decomposition indicate that oil prices account for about 20% of changes in US shale oil production, while it explains only about 3% of changes in energy security. Finally, historical decomposition confirms the results of impulse response functions.
Originality/value
The novelty of this study is that so far, no study has examined the effect of oil price shock on shale oil production and energy security in the USA using the structural VAR model. This study also used the latest Shannon–Wiener index as a measure of energy security in the USA. The reason for selecting this index is that, in addition to considering the share of the total consumption of each primary energy, the share of energy imports from each country as well as the political risk of energy exporting countries to the USA are also included.
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The purpose of this paper is to put forward countermeasures to ensure China's energy security based on an analysis of the world energy security situation and challenges China…
Abstract
Purpose
The purpose of this paper is to put forward countermeasures to ensure China's energy security based on an analysis of the world energy security situation and challenges China faces in the future in terms of energy security.
Design/methodology/approach
An induction approach is adopted to analyze the energy security situation of the world and that of China.
Findings
Although available energy resources can meet the medium and long‐term global energy demand, the world energy security faces lots of severe challenges in the aspects of demand and supply factors, infrastructure, geopolitics and strict environmental protection requirements, etc. China's energy supply security faces many challenges in the coming 20 ∼ 30 years or even in the long term. Taking external factors into consideration, the primary challenge is to ensure a stable and sustainable oil supply with reasonable prices. Though the external conditions are of great importance to China's energy security, the influences of domestic factors also need to be well recognized. With energy resources supply being the bedrock of energy security, the establishment of domestic energy market system and energy management framework will exert momentous impact upon the energy security. In addition, while the petroleum supply security is emphasized, attentions should at the same time be paid to the supply security of other energy products, especially to the supply of China's fundamental energy resource of coal.
Originality/value
The paper provides useful and timely analysis of world energy resources, world energy security situation and world economic performances.
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This study aims to examine the effects of industrialization, deindustrialization and financialization on Turkey’s energy insecurity by controlling the impacts of urbanization and…
Abstract
Purpose
This study aims to examine the effects of industrialization, deindustrialization and financialization on Turkey’s energy insecurity by controlling the impacts of urbanization and alternative energy generation for the 1980–2018 period.
Design/methodology/approach
This study proposed an econometric model relying on the literature. Moreover, based on different financialization variables, this study estimated two specifications of this model using the augmented nonlinear autoregressive distributed lag approach.
Findings
The results are as follows: first, industrialization increased Turkey’s long-run energy insecurity, whereas deindustrialization did not affect Turkey’s energy security. Second, urbanization worsened Turkey’s energy insecurity. Third, financialization aggravated Turkey’s energy insecurity. Last, alternative energy generation improved Turkey’s energy security.
Research limitations/implications
This study identifies the energy security’s drivers in Turkey with a focus on industrialization and financialization. Nonetheless, further research is needed on other emerging economies with high energy insecurity levels, and a disaggregated approach can be followed to examine how various industrial sectors impact energy security.
Practical implications
To combat energy insecurity, quantifiable, innovative and energy-efficient goals should be set for Turkey’s industry sector. Additionally, to achieve these goals, financial opportunities should be provided by reforming the financial sector. This reformative approach can also curb financialization’s negative effect on Turkey’s energy security.
Social implications
Deindustrialization is not a solution to Turkey’s energy insecurity. Also, unless necessary actions are taken, industrialization, financialization and uncontrolled urbanization may continue to threaten Turkey’s energy security. Finally, promoting alternative energy generation seems to be a viable long-run solution to energy insecurity.
Originality/value
Although a significant number of studies investigated industrialization’s and financialization’s impacts on energy demand or environmental damage, only a few studies examined their impacts on energy insecurity. Similar to other developing nations, as Turkey is facing chronic energy security problems, the author believes that the analysis provides important policy insights regarding energy (in)security’s drivers. By differentiating the impacts of industrialization and deindustrialization, this study also shows that deindustrialization may not be a proper solution to deal with energy insecurity.
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Luca Urciuoli, Sangeeta Mohanty, Juha Hintsa and Else Gerine Boekesteijn
The purpose of this paper is to enhance the understanding about how energy supply chains work to build resilience against exogenous security threats and thereafter what support…
Abstract
Purpose
The purpose of this paper is to enhance the understanding about how energy supply chains work to build resilience against exogenous security threats and thereafter what support mechanisms should be introduced or improved by the European Union.
Design/methodology/approach
Five case studies and data collection from multiple sources is used to understand what exogenous security threats could lead to the disruption of oil and gas flows to Europe, how energy companies, from a supply chain perspective, are working to manage these threats and finally, how the EU may coordinate the security of the energy sector in collaboration with supply chain companies.
Findings
Results show that today, oil and gas supply chains have in place a good combination of disruption strategies, including portfolio diversification, flexible contracts, transport capacity planning and safety stocks. The most relevant security threats the companies fear, include hijacking of vessels (sea piracy), but also terrorism, and wars. Finally, the study highlights that the European Union has built a comprehensive portfolio of strategies to deal with scarcity of oil and gas resources. However, these approaches are not often synchronized with supply chain strategies.
Practical implications
The paper provides guidance for supply chain managers dealing with critical suppliers located in conflict environments. The paper recommends that supply chain managers fine tune their strategies in coordination with governmental actions in foreign politics, dependence reduction and crisis management. This may be achieved by closer communication with governments and potentially through the creation of a pan-European sector alliance.
Originality/value
Previous research discusses the topic of supply chain resilience and supply chain risk management. However, none of these studies report on exogenous security threats and disruption strategies of oil and gas supply chains. At the same time, previous research lacks detailed studies describing the interaction between governments and energy supply chains.
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Clean energy stocks are exhibiting signs of increasing volatility reflecting the varied and conflicting strategies employed by nations to pursue energy security objectives. In…
Abstract
Purpose
Clean energy stocks are exhibiting signs of increasing volatility reflecting the varied and conflicting strategies employed by nations to pursue energy security objectives. In this regard, this paper aims to examine the response of NASDAQ clean energy stock returns volatility to the influences of external energy security elements including oil price, natural gas price, coal price, carbon price and green information technology stock price.
Design/methodology/approach
The paper uses symmetric and asymmetric generalised autoregressive conditional heteroskedasticity models (GARCH and TGARCH, respectively), which incorporate external energy security elements as exogenous variables, to estimate volatility models for clean energy stock returns.
Findings
Although, prices of oil, coal and natural gas are negatively associated with NASDAQ clean energy returns volatility, only the effect of natural gas price is significant. While carbon price affects NASDAQ clean energy returns volatility positively, green information technology price affects the volatility negatively. These results are robust to exponential GARCH and lead-and-lag robust ordinary least-squares as alternative estimation methods.
Research limitations/implications
The study lumps the effects of all other external and internal factors, including internal energy security elements, in the autoregressive conditional heteroscedasticity (ARCH) term to predict NASDAQ clean energy returns conditional variance. GARCH method does not disentangle individual roles of the factors captured in the ARCH term in predicting volatility.
Practical implications
Results documented imply that natural gas appears a closer substitute for renewable energy sources than crude oil and coal, such that its price rise is perceived as good news in the NASDAQ clean energy financial market, while a fall is considered bad news. Furthermore, both an increase in carbon price and a decrease in green information technology stock performance are perceived as negative shocks.
Social implications
In assessing risks associated with clean energy stocks, investors and fund managers should carefully consider the effects of external energy security elements.
Originality/value
To the best of the author’s knowledge, the paper is the first to identify external energy security elements and examine their effects on clean energy stock volatility.
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The purpose of this article is to explore an energy strategy for the European Union (EU) that could integrate the tensions between geopolitics and the market in a coherent and…
Abstract
Purpose
The purpose of this article is to explore an energy strategy for the European Union (EU) that could integrate the tensions between geopolitics and the market in a coherent and consistent external EU energy policy.
Design/methodology/approach
The approach consists of combining the theoretical framework of international political economy and Europeanization to European energy corridors.
Findings
The article finds that most qualitative energy security scenarios can be conceived as applications of international political economy paradigms. Its main result is to conceptually develop a geo‐economic strategy consisting on the Europeanization of EU's external energy corridors along its own energy regulations and standards.
Research limitations/implications
The article explores a distinct hybrid scenario, the Europeanization of energy corridors, which could be instrumental in overcoming the apparent dilemma between EU's market and geopolitical‐based scenarios.
Originality/value
The original contribution of the article lies in the application of international political economy and Europeanization theories to energy security scenarios, and the inclusion of governments' preferences in the process of hedging market and geopolitical scenarios.
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José María Marín‐Quemada and Beatriz Muñoz‐Delgado
This paper aims to describe a new methodology for the analysis of international energy relations that enables the relationship between any given country and other countries or…
Abstract
Purpose
This paper aims to describe a new methodology for the analysis of international energy relations that enables the relationship between any given country and other countries or regions to be classified in terms of the competition (rivalry) and complementarities (affinity) between them.
Design/methodology/approach
The methodological approach taken rests on the composition of a new index, termed here the Energy Affinity Index, which has been defined as a function of countries' roles in international energy markets. This index therefore seeks to quantify energy rivalry or affinity between countries in terms of their energy import and export flows.
Findings
The key finding of this paper is the recognition and systematic cataloguing of countries in terms of their relationship with the region under study, namely the European Union (EU). Thus, the degree of affinity, rivalry, and irrelevance in terms of energy between the EU and third countries is distinguished. In turn, the potential that can be explored by the EU and the need to bring specific strategies to bear in each case is examined in the light of the results of the Energy Affinity Index and the specific characteristics of each country.
Research limitations/implications
The main research implications derive from the concept of energy relations and their quantification. It opens up a new path in the study of energy security and competition. This is potentially of considerable interest given that energy security is a widespread concern, particularly among highly energy dependent and vulnerable countries, and in view of the current context of growing competition for resources, characterised by increasing energy demand and the exhaustion of fossil fuels.
Originality/value
The original contribution and the value of this study is the proposal of the Energy Affinity Index as a new concept and a metric to help understand and analyse international energy relations both quantitatively and qualitatively. As well as presenting and developing the methodology, the paper analyses the EU‐27's energy relations with third countries over the period 2000‐2008, thereby offering a new perspective on these relations.
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Amit Kanudia, Raffaella Gerboni, Richard Loulou, Maurizio Gargiulo, Maryse Labriet, Evasio Lavagno, Rocco De Miglio, Laura Schranz and GianCarlo Tosato
This article is based on the REACCESS research project, sponsored by the European Commission, with the objectives of evaluating the technical, economic, and environmental aspects…
Abstract
Purpose
This article is based on the REACCESS research project, sponsored by the European Commission, with the objectives of evaluating the technical, economic, and environmental aspects of present and future energy corridors between the European countries (EU27) and their main energy suppliers. GCC countries have an important role to play given their role in EU energy supply and in greenhouse gas emissions. The paper aims to discuss these issues.
Design/methodology/approach
A single energy model was built by hard‐linking the TIMES integrated assessment model (TIAM‐World), the Pan European TIMES model (PET), and the RECOR model (REaccess CORridors), including more than 1,000 possible energy corridors supplying the European countries. Another major methodology advance was to create a hybrid objective function, combining the usual cost objective and a metric representing the supply risk incurred by EU27. The risk component was constructed via a novel approach that aggregates the elemental risk parameters of each corridor using a Min‐Max function. Four contrasted scenarios were assessed, based on security and climate objectives.
Findings
Among the many results, it appears that a large reduction of the supply risk may be achieved at a very modest increase of the total energy system cost for EU27. Cross‐effects of climate mitigation and security objectives are also observed. Due to the diversification requirement, the contribution of GCC countries to EU energy imports increases under risk scenario. Sensitivity analyses show that the European energy system seems unable to reduce the market shares of fossil fuels import from MENA countries, including GCC countries, much below the reference case, proving the strong dependency of EU27 energy system from these countries. However, total fossil fuels imports, as well as total energy consumed, are decreased under the risk adverse scenarios.
Originality/value
Methodological developments, as described above, result in an advanced tool to assess how to increase the “energy system security”, by reducing the concentration of supply countries, diversifying import sources but also reducing the energy dependence at the end‐use side.
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