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461. Strategic Oil Stocks and Security of Supply

Author:
Giacomo Luciani and François-Loïc Henry
Publication Date:
06-2011
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Holding strategic oil stocks is at first sight an obvious tool to address potential disturbances in supplies. Rationally defining the desirable size of stocks and designing rules for their predictable use is an elusive task, however. A key conceptual difficulty arises in the distinction between commercial and strategic stocks, because a physical shortfall in the oil supply will inevitably lead to an increase in prices. But if strategic stocks are utilised when prices increase they become indistinguishable from commercial stocks. This paper reviews the legislation in force in the US and the EU on the use of strategic oil stocks as well as the emergency response systems of the International Energy Agency. It finds that such measures have been activated rarely and in dubious circumstances. Alternative approaches are proposed consisting of encouraging companies and major consumers to hold larger stocks and seeking a cooperative agreement with oil-producing countries for mutually beneficial stock management.
Topic:
Security, Energy Policy, Markets, and Oil
Political Geography:
United States and Europe

462. Global Oil Supplies: The Impact of Resource Nationalism and Political Instability

Author:
Giacomo Luciani
Publication Date:
05-2011
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
This paper looks at resource nationalism and political instability as potential causes of disruption to global oil supplies. It points to depletion preferences and strategies as one form of resource nationalism. In most cases, resource nationalism appears to be motivated by rent maximisation. Hence, we see the adoption of more restrictive policies when prices rise. Conversely, when oil prices are low, increasing export volumes becomes more important. Restrictions on exports are common, especially for natural gas, which is sometimes reserved for national consumption. Export taxes are a tool used by some countries to extract revenue from oil producers. Domestic prices of gas and petroleum products are frequently much lower than international prices, also in some sense reducing availability for export. Political instability has a much more elusive impact on oil and gas exports, and historical experience points to contradictory potential outcomes. This paper concludes that political instability and resource nationalism are rarely associated with acute supply crises or shortfalls. Their effect is rather gradual and normally compensated by action in other parts of the system.
Topic:
Energy Policy, Nationalism, Oil, Politics, and Natural Resources
Political Geography:
United States

463. Distributional Consequences of Climate Change Impacts on the Power Sector: Who gains and who loses?

Author:
Dirk Rübbelke and Stefan Vögele
Publication Date:
05-2011
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Climate change tends to negatively affect the power sector, inter alia, by causing cooling problems in power plants and impairing the water supply required for hydro-power generation. In future, when global warming is expected to increase, autonomous adaptation to climate change via international electricity markets inducing reallocations of power generation may not be sufficient to prevent supply disruptions. Furthermore, the consequent changes of supply patterns and electricity prices might cause an undesirable redistribution of wealth both between individual power suppliers and between suppliers and consumers. This study ascertains changes in European power supply patterns and electricity prices caused by ongoing global warming as well as related redistribution of wealth for different climate change scenarios. Our results confirm that autonomous adaptation in the power sector should be complemented by planned public adaptation in order to preserve energy security and to prevent undesired distributional effects.
Topic:
Climate Change, Economics, Energy Policy, and Markets
Political Geography:
Europe

464. The Green Growth Economies Project Country Cases: An Analytical Overview

Publication Date:
06-2011
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
This set of seven green growth cases explores the variety of green growth strategies countries and states are putting into practice: how they define success; what obstacles they face; and what kinds of policy outcomes they produce. In essence, what is the political and economic logic underpinning different strategies and their success?
Topic:
Climate Change, Diplomacy, Energy Policy, Industrial Policy, and Natural Resources

465. Cooperating in the Energy Security Regime Complex

Author:
Jochen Prantl
Publication Date:
08-2011
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies (NTS)
Abstract:
This paper investigates the influence of global power shifts on energy security cooperation and examines the existing structure for energy governance. It asserts that a regime complex is likely to be more effective that an integrated regime in governing energy cooperation. It concludes with recommendations on how to enhance cooperation in energy security.
Topic:
Energy Policy, International Cooperation, Power Politics, and Governance

466. Gender and the Green Climate Fund

Publication Date:
07-2011
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Women are on the front line of coping with and adapting to the effects of climate change. Both climate change impacts and mitigation and adaptation responses affect women and men differently. Yet current climate finance institutions almost entirely ignore gender issues. The Green Climate Fund cannot afford to make the same mistake. Many agree the new fund must be innovative, building on the lessons of climate finance and of other funds to date. To be an effective and legitimate tool in the fight against climate change, the Green Climate Fund must have the concerns of women at its heart.
Topic:
Climate Change, Energy Policy, and Gender Issues

467. Research, Development, and Demonstration for the Future of Nuclear Energy

Author:
Valentina Bosetti, Matthew Bunn, Michela Catenacci, Audrey Lee, and Laura Diaz Anadon
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Dramatic growth in nuclear energy would be required for nuclear power to provide a significant part of the carbon-free energy the world is likely to need in the 21st century or a major part in meeting other energy challenges. This would require increased support from governments, utilities, and publics around the world. Achieving that support is likely to require improved economics and major progress toward resolving issues of nuclear safety, proliferation-resistance, and nuclear waste management. This is likely to require both research, development, and demonstration (RD) of improved technologies and new policy approaches.
Topic:
Climate Change, Economics, Energy Policy, and Nuclear Power

468. Recommendations for Limiting Transfers of Enrichment and Reprocessing Technologies

Author:
Fred McGoldrick
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
This policy brief is based on Limiting Transfers of Enrichment and Reprocessing Technology: Issues, Constraints, Options , a report of the Project on Managing the Atom.
Topic:
Foreign Policy, Energy Policy, Science and Technology, Foreign Aid, Nuclear Power, and Developing World

469. America's Energy Security Options

Author:
Trevor Houser
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Like clock-work, as US gasoline prices approached $4 a gallon in spring 2011, energy security moved to the forefront of the American political debate. Global oil prices have recovered from their collapse during the financial crisis more quickly than expected due to resilient developing-country demand and political instability throughout the Middle East and North Africa. As with past oil price spikes, politicians have been quick to offer silver bullet solutions to lower gas prices and make America more energy secure. But given the complexity of the US energy system and global energy markets, it is difficult for even informed observers to evaluate how far current proposals go in solving the country's energy security challenge.
Topic:
Energy Policy, Oil, Natural Resources, and Biofuels
Political Geography:
United States, America, Middle East, and North Africa

470. Ethics and the Economist: What Climate Change Demands of Us

Author:
J. A. Nelson
Publication Date:
05-2011
Content Type:
Working Paper
Institution:
Global Development and Environment Institute at Tufts University
Abstract:
Climate change is changing not only our physical world, but also our intellectual, social, and moral worlds. We are realizing that our situation is profoundly unsafe, interdependent, and uncertain. What, then, does climate change demand of us, as human beings and as economists? A discipline of economics based on Enlightenment notions of mechanism and disembodied rationality is not suited to present problems. This essay suggests three major requirements: first, that we take action; second, that we work together; and third, that we focus on avoiding the worst, rather than obtaining the optimal. The essay concludes with suggestions of specific steps that economists can take as researchers, teachers, and in our other roles.
Topic:
Climate Change, Economics, Energy Policy, and Political Theory