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Risks of Energy Security

Slobodan Cvetanovic, Danijela Despotovic and Vladimir Nedic

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2019, vol. 65, issue 1

Abstract: According to its significance, energy production is in the same group of activities like production of food and raw materials, and supply of necessary drinking water. The lagging in those forms of production has negative impact on economic growth and development of countries and regions as a whole. Therefore, the problems of development of energy sector cannot be observed as isolated from the development of overall social-economic development of a country, even out of context of development of international political and economic relations. In that light,energy security is one of the most pronounced risks in the modern world. Unlike the previous period when oil was predominantly considered the factor of energy security, nowadays, the discussion about the energy security takes into account energy sources as a whole. Due to the continuously growing demand for energy (resulting from increased economic activities and raising living standard), on the one hand, and the growing number of uncertainties of different origin that accompany production, transport, distribution, storage, and final energy consumption (environmental, technical, economic, political, security), on the other, energy security has become one of the most important global development goals.

Keywords: Resource /Energy Economics and Policy; Risk and Uncertainty (search for similar items in EconPapers)
Date: 2019
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DOI: 10.22004/ag.econ.290223

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