Journal of Energy Security

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Beware of the Climate Trap

The recent agreement between President Xi and President Obama in which the U.S. committed to reduce greenhouse gas emissions up to 28 percent below its 2005 levels while China committed to have its emissions levels peak by 2030 was one of the trumpeted announcements of the recent APEC Summit. The details on how this will exactly be done are fuzzy and will be left to negotiations in the United Nations Climate Change Conference in Paris next year. But the 2030 goal means that in the coming months China will be subjected to international pressure to turn words into deeds by accepting CO2 reduction measures which may be detrimental to its economic development. To this it should not agree.

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European Energy Security: An American Responsibility?

When the Ukraine crisis broke out threatening to compromise Europe's energy supply from Russia, many American politicians and pundits called for the United States to expedite exports of liquefied natural gas, or LNG, to help bolster European energy security. Never mind that the United States won't have its first LNG export terminal in operation until late 2015 at the very earliest; that much of its approved gas exports are already committed to long-term contracts in Asia; and that Ukraine as well as most European countries under the Kremlin's boot do not have the terminals for receiving LNG. The United States is under no obligation to bolster Europe's energy security just because Europe, in its fixation on climate change, has for years undermined its own energy security and brought upon itself its current predicament. Gal Luft elaborates.

Building an Asian Energy Buyers' Club

Asia's energy landscape today is a cluster of segregated markets. A change may be in order. With the backdrop of this week's meeting of Asia-Pacific energy ministers in Beijing Gal Luft elaborates.

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Arbitrage will be pursued (Iranian edition)

When something is subsidized, people use more of it....and smuggle/sell it elsewhere to cash out on the subsidy. Case in point, fuel in Iran.

The Economist reports "An estimated $40-100 billion is paid every year to keep Iranians, poor and rich, supplied with cheap energy, water, fuel and basic food. Consumption has soared. Shopkeepers in Tehran spray their verandas to drive away the dust. Cars clog the country’s roads. Iran’s energy consumption is reckoned to be 80% above the Middle East’s average. Worse, billions of dollars are squandered every year by smugglers taking Iran’s cheap fuel across borders to Iraq and Pakistan. "

The subsidies have just been reduced but are still substantial...."On April 28th President Hassan Rohani raised petrol prices by 75%, from 4,000 to 7,000 rials ($0.16 to $0.28) per litre."

Caspian Gas, TANAP and TAP in Europe’s Energy Security

Russia’s occupation of the Crimea and possible incorporation of Eastern Ukrainian regions has demonstrated Europe’s vulnerability to Gazprom’s energy power. Whatever the EU’s reaction, diversification of energy supply to diminish Russia’s market share is likely to be one of them. The Trans Adriatic Pipeline (TAP) is one step towards the strategic goal of diminishing Gazprom’s huge presence in Europe. but in view of the proposed construction of the Russian South Stream pipeline, how can Central Europe, and especially Bulgaria, Romania, Austria and Lithuania, ensure energy diversification? What next for the Southern Corridor? Is Russia going to accept and tolerate infrastructure growth of the Caspian and other competitors south of its borders? Dr. Ariel Cohen, an Advisor to the Institute for the Analysis of Global Security, has just written an extended piece on these issues published by th...

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