The Economics of Energy Security

Online-Ressource (168p)

online resource

1 IntroductionChanging Perspectives about Energy Security -- Taxonomy of Potential Externalities -- From Externalities to Premiums -- Plan of the Book -- Endnotes -- 2 Basic Economic Concepts -- What is an Externality? -- Potential Externalities Related to Energy Imports -- Potential Externalities Related to Energy Price Variability -- Problems of International Policy Coordination -- Military Expenditures and Oil Import Costs -- Concluding Remarks: Defining Energy Security Premiums -- Endnotes -- 3 Empirical Evidence on Energy Security Externalities -- Experience with Oil Shocks -- Oil Market Behavior -- Indirect Effects of Oil Imports -- Macroeconomic Effects of Energy Price Disturbances -- Military Expenditures for Energy Security -- A Contrary View: The Greene and Leiby Study -- Concluding Remarks -- Endnotes -- 4 Empirical Measures of Oil Security Premiums -- Measurement of Oil Premiums -- Economic Premium Estimates -- Strategic Stockpile Premiums -- Concluding Remarks -- Endnotes -- 5 Changes in the Efficiency and Stability of the World Oil Market -- Price Responsiveness of Oil Supply and Demand -- Changes in Supply and Demand -- Changes in Market Organization and Institutions -- Concluding Remarks -- Endnotes -- 6 Applications of Energy Security Externalities to Electricity Policy -- National versus Local Energy Security Issues -- Externalities That Arise at the Local Level -- Concluding Remarks -- Endnote -- 7 Applications of Energy Security Externalities to Transportation Policy -- Externalities in the Transportation Sector -- Potential Contributions of Alternative-Fuel Technologies -- CNG as a Replacement for Gasoline -- Concluding Remarks: A Comparison of Alternative-Fuel Vehicles -- Appendix A: Derivation of the Social Welfare Impacts of CNG -- Appendix B: Further Analysis of Alternative Fuels and Energy Price Stabilization -- Endnotes -- 8 Implications for Energy Policy -- Summary and Policy Implications -- Have the Externalities Been Internalized Already? -- Concluding Remarks -- Endnotes -- References -- Name Index.

10.1007/978-94-009-1808-5 [DOI]

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