The paradox of energy security
Efforts to secure the flow of energy often do the opposite, reinforcing injustice and historical resentments, argues a new book
Northern Iraq is at war. Renewed sanctions on Iran may be imminent. Opec is cutting supply. Venezuela is collapsing. Relations between Russia and the West are deteriorating. Terror groups are targeting energy assets in countries like Libya and oil-producing South Sudan is a failed state. China is flexing its muscles in the South China Sea. More prosaically, international oil companies have carried out a huge upstream investment retreat since 2014. Such ingredients—especially in combination—would once have spiked oil prices and prompted urgent global summits. These days, oil markets remain sanguine and energy security has lost its paranoia factor. The rise of American oil and gas and public n
Also in this section
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
22 April 2026
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
