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Measuring Energy Security – A Conceptual Note

  • Manuel Frondel

    ()

  • Christoph M. Schmidt

Along with the oil price, concerns about the security of energy supply have soared once again in recent years.Yet, more than 30 years after the OPEC oil embargo in 1973, energy security still remains a diffuse concept. This paper conceives a statistical indicator that aims at characterizing the energy supply risk of nations that are heavily dependent on energy imports. Our indicator condenses the bulk of empirical information on the imports of fossil fuels originating from a multitude of export countries as well as data on the indigenous contribution to the domestic energy supply into a single parameter. Applying the proposed concept to empirical energy data on Germany and the U.S. (1980–2004), we find that there is a large gap in the energy supply risks between both countries, with Germany suffering much more from a tensed energy supply situation today than the U.S.

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Paper provided by Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen in its series Ruhr Economic Papers with number 0052.

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Length: 21 pages
Date of creation: Jul 2008
Date of revision:
Handle: RePEc:rwi:repape:0052
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  1. Schmidt, Christoph M. & Frondel, Manuel, 2002. "The empirical assessment of technology differences: comparing the comparable," ZEW Discussion Papers 02-63, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Frondel, Manuel & Kambeck, Rainer & Schmidt, Christoph M., 2007. "Hard coal subsidies: A never-ending story?," Energy Policy, Elsevier, vol. 35(7), pages 3807-3814, July.
  3. Adelman, M A, 1990. "Mineral Depletion, with Special Reference to Petroleum," The Review of Economics and Statistics, MIT Press, vol. 72(1), pages 1-10, February.
  4. Richard L. Gordon, 1967. "A Reinterpretation of the Pure Theory of Exhaustion," Journal of Political Economy, University of Chicago Press, vol. 75, pages 274.
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