Global Energy Security. The Challenges Ahead and how to Meet Them. MSC Booklet Paper No. 1, Munich Security Conference 2010
During the past decade, “energy security” has made it to the top of policy agendas, in industrialized and emerging economies alike. A unique blend of threats and challenges – gas crises in Europe, a resurgence of resource nationalism, massive oil price volatility and climate change – call for a fundamental restructuring of the global energy system. The predominant lens on global energy challenges is a geopolitical one portraying energy security as a zero-sum game. But contrary to conventional wisdom, neither reinforcing the navy in the Strait of Hormuz nor putting NATO in charge of energy security will address the core issues at stake. Such hard security remedies do little to bolster global energy security. Rather, what is needed in 2010 is a bold push to upgrade and reform the rules and institutions that structure global energy relations. Read more.