Columbia International Affairs Online: Working Papers

CIAO DATE: 05/2009

Energy Security: Investment or Insecurity

Fatih Birol

May 2007

International Peace Institute

Abstract

The world is facing twin energy-related threats: that of not having adequate and secure supplies of energy at affordable prices and that of environmental harm caused by consuming too much of it. Soaring energy prices and recent geopolitical events have reminded us of the essential role energy plays in economic growth and development and of the vulnerability of the energy system to supply disruptions. Safeguarding energy supplies is once again at the top of the international policy agenda.Yet the current pattern of energy supply carries the threat of severe and irreversible environmental damage, including changes in global climate. Reconciling the goals of energy security and environmental protection requires strong and coordinated government action and public support.